Insurance Write offs vs lowering rate for insurance?
I would love information on this as well. What exactly is an insurance write off? I don't think we can write off the difference between the insurance companies payment to us and our hourly rate. Are we talking about a tax write off? Uncollectable debt would not fit this scenario. Is it a business loss? Confused here, can anyone help me understand?
I am also not sure about determining the billed amount. If my stated rate for a 60 minute session (53 clinical minutes) is $150 and the client pays a $25 copayment, then I should ethically only bill $125, correct? Otherwise I am billing more than my stated rate. But, I am told by a colleague with insurance billing experience that, regardless of what I bill, the insurance company will pay the allowed amount for that service (based on IPC code) whether it is more than or less than what I have billed. Again, I am confused and would appreciate any wisdom.
Finally, could SimplePractice please make the forum easier to access? Maybe an icon on our dashboard? It is hard to find and hard to get to. It is an awesome idea and could be a great support to your clients, but we need to know it is here and be able to get to it easily.
Blessings to all!
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