The HCFA CMS 1500 form: One of the most important insurance payment request forms.
Medical billing typically requires the use of several forms, for different purposes. Confusion can often result from the myriad of options. One of the most important insurance payment request forms is the HCFA CMS 1500 form. When the form was created originally, it was labelled the HCFA 1500. Nowadays, it’s called the CMS 1500. The name change came as a result of the Centers for Medicare and Medicaid Services. Some of the Medicaid State Agencies require this form to process billing.
The standard CMS 1500 form is used to claim by suppliers and non-hospital providers.
These forms must be submitted within a year from the date of service. Since the form is printed using a certain kind of ink, you can’t simply download or copy it. For the sake of speed and efficiency, the payers typically use Optical Character Recognition technology to scan the information, and process the requests for payment.
If the form is not exact it will not be read correctly.
Get your forms submitted without error requires using the exact form – ink as well – and the right information. When you go to submit your claim forms, make sure that you have the most current CMS 1500 form, and make sure it has the correct ink. Failure to follow these 2 simple rules could result in form rejections and delayed reimbursements.
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. This will ensure that your medical office receives a smooth stream of reimbursements from its form submissions.