The most significant medical billing form today.
If you’re in a medical office position, typically, insurance reimbursements come from submissions of specific forms. There are so many that they can become downright confusing. In most offices, the HCFA CMS 1500 form is the most widely used document submitted for reimbursement.
The form was previously known as the HCFA 1500 but has since been named CMS 1500. The name change came as a result of the Centers for Medicare and Medicaid Services. Most medical offices use this form to bill some of the Medicaid State Agencies.
Usually used by non-hospital patient care providers and medical suppliers.
The rule is that you must file the form with the payer within 365 days of providing the service to your patient. Cms 1500 Claim forms can only be used if they are printed with a specific ink. This makes getting downloaded or photocopied copies of the form unusable for turning in claims. The forms are scanned using a specific technology called Optical Character Recognition.
Scanning errors happen – often.
Almost 100% of the time, if the ink is not the needed quality on the form, scanning errors result. It’s critical that you have the form with the exact ink and information on it to have a successful form submission. You can ensure your form submissions are accepted by using the latest form edition, along with the correct ink color and quality. Omit these 2 simple guidelines, and it could result in form rejections, and delayed reimbursements. Obviously, you should only buy cms 1500 version 02/12 forms from a source with a reputation for quality products.
A chance you could not get paid at all.
What’s worse is that if you wait too long to re-send the corrected form, there’s a chance you may not be paid at all. So make sure when purchasing this form, you are buying from a company that is reliable, and has the exact ink that is needed. The result of this diligence is a stream on timely insurance payments for your services rendered. The alternative to using the paper format of this is to use 1500 claim form software. It’s typically more expensive, but for large companies, it can save a great deal of time and money.