Business manAs a business owner, your goal is to provide a service and receive payment for it. However, there are instances in which you may be unable to make a full claim for the costs you’ve incurred due to factors out of your control. In some cases, you may provide thousands of dollars’ worth of service only to find that you cannot charge anyone for those fees. If you are a medical provider, for example, this is becoming more common. Billing errors insurance may help to defray some of those costs.

What Can This Business Insurance Do for You?

Billing errors and omission insurance provides some protection for companies who fail to or are unable to invoice for services provided for one reason or another. A very common instance in which this occurs is within a medical or dental practice. For example, let’s say you are providing services to a patient. Your office bills Medicare or Medicaid for those services. But, a mistake is made during the billing process. Months later, an auditor from Medicaid or Medicare calls your office and wants to dispute these claims. Now, you could face thousands (if not more) in claims against the fees you’ve billed for.

You don’t have to be a bad company to make such mistakes. In these situations, billing errors are sometimes common due to the wrong code being used or simple miscommunication. Nevertheless, you could face significant fees in these instances. When you have billing errors insurance, though, you minimize the financial risk to your company. The policy can help to cover these fees in many cases. In addition, they can help you to defend yourself against third party organizations and government organizations making such claims. This can prove to be very valuable to you.

Who Needs It?

This form of business insurance is ideal for anyone that bills for government claims or any Medicare, Medicaid, or other organization. It is very common for these organizations to take extensive steps to find such billing errors and the cost of doing so can be very hard to overcome by your organization. With this insurance, you gain a bit more protection and more peace of mind when creating such invoices.

We’ll help protect the interests of your practice. Call Joseph A. Britton Agency at (800) 462-3401 for more information on New Jersey billing errors and omission insurance.
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016

View Mobile Version
Count on us to provide you the information and coverage you need.
  • Affordable, dependable medical malpractice insurance
  • General liability insurance
  • Workers’ compensation coverage
  • Directors’ and officers’ liability insurance
  • Employment practice liability coverage
  • Cyber liability coverage
  • Billing errors and omissions insurance
  • HIPAA liability insurance
  • Umbrella liability coverage
  • Property insurance
  • Commercial flood and inland marine coverage
  • High quality disability insurance
Contact an Agent to discuss your coverage options in detail. Request a Quote Call 800.462.3401
  • The Hartford
  • Princeton Insurance
  • MedPro Group
  • Coverys
  • MD Advantage
  • Conventus
  • Physicians' Reciprocal Insurers
© Copyright. All rights reserved.
Powered by Insurance Website Builder