If you are new to the private practice insurance game, whether you are already an in-network provider, or still working towards your credentialing, it’s always a good idea to know the insurance jargon so you can sound professional when you start taking your clients’ insurance. Today, we’re breaking down copayments.
What’s a Copay?
I’m sure you’ve heard it before and are familiar with them, at least from the client’s side of things. Copays (or Copayments) are the fixed amount paid for an insurance-covered service.
Copays can be dependent on whether or not the insured client has reached their deductible, so be sure to familiarize yourself with each company’s individual policies and how copays change from plan to plan. You can learn how the cost of your client’s copay through the insurance company. It will vary from company to company.
At Healthie, you can keep track of the copays you collect right in the same system you put together your CMS 1500! Healthie makes taking insurance easy, keeping you organized for every step of the way. Track copays right alongside all of your other collected payments – all inside our system. Go the next step and create a new CMS 1500 form in minutes with our autofill functions to make filing a claim a breeze!
Looking for more private practice insurance tips? Let us know at firstname.lastname@example.org.