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Doctor bill format for Engineering

ing to instamed's trends in healthcare payments of 2020 report 71 of consumers find medical bills confusing in other words 3 out of every 10 patients understand what they owe to their doctor and how to pay it that's abysmal and it's a failure by the millions of healthcare practices and organizations out there how are you supposed to pay the amount you owe your doctor if you can't understand how to read its format the answer to that question is simple you can't yet not paying your medical bills won't make anything easier because it's not going anywhere 30 days after you receive it you'll receive another copy with an attached past due letter you'll continue to receive both of these pieces of paper on day 60 and day 90. all that wouldn't happen though if your doctor made your medical bill easy to understand in the first place hi everyone i'm matt from e tactics and today i'm going to teach you how to read a medical bill before we get started though make sure you subscribe to our youtube channel by clicking the button below while you're down there hit that alert bell icon next to it as well so when we post new helpful content you get notified there are seven main sections of a medical bill that i'm going to explain and point out to you in this video service requested type credit card box address information account information dunning message details table and aging buckets all of those are listed by starting at the top of a medical bill and working our way down let's take a look first we have the service requested type section it's the first area we have other than the logo and the address of the healthcare organization that sent you the bill when starting at the top and going from left to right there's a tiny area that often gets unnoticed called the service requested type section this little spot is a postal term that gives directions to the usps this example uses the phrase forward service requested which tells mail deliverers to forward undeliverable as addressed mail to the recipient's new location if they have a change of address request on file there is one other direction that could go in this area called return service requested this directive tells the usps to return the piece of mail if it is undeliverable as addressed free of charge regardless of whether a change of address order is on file or not in other words these directions tell the usps what to do if the mail that they are delivering isn't deliverable as addressed second is the credit card box this is usually the first location where you find summarized information about your visit its overall purpose is to show you how much you owe and capture payment via credit card if you trust that all the charges from your appointment are accurate without feeling the need to check them for yourself you can fill out this section with your credit card information hold up the statement and mail it the third section is the address information section this area is pretty self-explanatory it tells the usps where to send the statement as it will show up perfectly in a windowed envelope the right hand side of this section provides the address of the healthcare organization to serve as a reference in case you decide to pay your statement using a check if you look at this section long enough though you'll notice these weird looking rectangle graphics underneath both addresses these are called intelligent male barcodes or imb imb is a service that the usps provides where each parcel gets a unique code these codes exist for tracking purposes in other words your healthcare provider knows whether or not you received your bill based on its tracking information through its imb code fourth is the account information section at this point we've now pushed past the top permit section of the statement medical bills usually provide a detachable area via perforation that area exists to make it easy for the recipient to detach the portion that contains their payment information slide it into an envelope and mail it there are two types of hermits top and bottom the location of the remit depends on where the credit card box sits on the statement as we move to the fifth section of a medical bill we're now just starting to get into the main area of the piece of paper at the top of the table in this statement example is a deming message although the industry refers to this section as a dunning message it's more like a text box that serves as an area of communication between you and your provider naturally you can't reply but it gives you important information and updates regarding your balance and easier ways to pay if your balance is overdue you'll receive a past due letter included within the envelope with your statement the dunning message area will reiterate the status of your account sixth is the details table the biggest section of a medical bill the official name of this giant table is the details section but it's an itemized list of every charge from your provider in other words if you're planning to take a look at an explanation of your bill and its charges this is the best place to look the last section of a medical bill is at the bottom underneath the giant details section is sometimes an area known as aging buckets aging buckets are commonly used in the financial industry to show what happens to your balance as it gets older in other words it visualizes any late fees that may happen over the lifetime of your bill under that area is the most obvious section of a medical bill we'll call this section the wrap up or call to action this section reiterates where to make checks payable and provides additional information to contact the health care organization that charged you this area also tends to thank you for your business you've done it you now know the technical language and jargon and inner workings of a medical bill in other words you should be able to read and understand them properly so that you're less likely to have a negative impact on your credit score even better having the ability to read your bill makes it easier for you to identify any errors and negotiate any payments doctor's offices have no choice but to send you medical bills it's how they keep their doors open if you received a bill from your doctor that's hard to understand i'm glad you watched this video however you should refer them to e-tactics if you'd like to learn more about medical bills reach out to e-tactics and you already made this far into the video so you might as well like it share it and comment below what are you waiting for subscribe to our youtube channel