3 BestPaying Insurance Companies in 2006Annual Chiropractic Office Billing Performance Index

3 Best-Paying Insurance Companies in 2006-Annual Chiropractic Office Billing Performance Index
By Yuval Lirov

A monthly Billing Precision Index lists ten best paying insurance companies for chiropractic CPT codes in the past month. Participation in the index is driven by multiple criteria starting with necessary minimum of submitted claims and including the all important billing performance measure, which is the percent of accounts receivable beyond 120 days.

While showing a low percent of accounts receivable beyond 120 days is critical to be included in the billing index, the frequency of participation in the index is a more robust performance measure as it also serves to measure billing performance consistency over longer time period.

For the annual performance review, index participation frequency table shows both the range of monthly index and its stability over time. Since Billing Precision started posting its index only in June 2006, the highest possible frequency earned by an insurance company on 2006 is 7.

Seven times:

United Healthcare: billing index between 5 and 12

Medicare New Jersey: billing index between 11 and 17

Cigna: billing index between 12 and 18

Five times:

Horizon: billing index between 3 and 18

Aetna: billing index between 5 and 20

Medicare Wisconsin: billing index between 18 and 42

Four times:

Blue Cross Blue Shield Illinois: billing index between 5 and 15

Blue Cross Blue Shield New Jersey: billing index between 16 and 22

Three times:

Blue Cross Blue Shield Wisconsin: billing index between 3 and 7

Blue Cross Blue Shield Florida: billing index between 5 and 55

Oxford: billing index between 6 and 15

Twice:

Blue Cross Blue Shield Texas: billing index between 2 and 33

Medicare Florida: billing index between 6 and 17

Medicare Virginia: billing index between 10 and 15

Health EOS: billing index between 12 and 20

Once:

Medicare West Virginia: billing index 1

Triad: billing index 3.5

Benesight: billing index 5

Care First NCA: billing index 7

Liberty Mutual: billing index 12

Medicare Alabama: billing index 12

Blue Cross Blue Shield Alabama: billing index 24

Florida 1st: billing index 24

Yuval Lirov, PhD, author of Mission Critical Systems Management (Prentice Hall), inventor of patents in Artificial intelligence and Computer Security, and CEO of Vericle.net Billing Technologies and Services. Vericle unites hundreds of billing services across the nation. Its electronic medical billing software tracks payer performance from a single point of control and shares compliance rules globally. Yuval invites you to register to the next webinar on audit risk at BillingPrecision.com.

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