steps to submitting a third party claim

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Step 8

Balance due statement sent to patient

Step 7

Bank deposit and unpaid claims followed up

Step 4

Claim is transmitted

Step 9

Full payment received and financial records retained

Step 3

Insurance claim is electronically created

Step 1

Medical services performed and encounter for is completed

Step 6

Payer processing - payment received with explanation of benefits document and electronically posted

Step 5

Track pending insurance claims via practice management software

Step 2

patient's financial data posted and patient is checked out


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AC 516 Chapter 3 - Fundamental Concepts: Materiality, Audit Risk and Risk Assessment

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