How does billing work with Fay?
Fay manages the entire billing workflow on your behalf, including submitting claims, tracking their status, and following up with insurance companies as needed. Insurance companies can take weeks or months to process claims, but as long as you follow Fay's reimbursement and documentation process, you will be paid on a monthly basis at the rates outlined in your rate table. Even if an insurance claim is delayed or denied, Fay is responsible for your payment.
What do I need to do to bill for my appointments?
To bill for your appointments, make sure your chart notes are complete, accurate, and signed in compliance with documentation standards. Once chart notes are signed, Fay automatically handles claim submission and billing with insurance, as well as collecting any patient responsibility after processing, such as co-pays, co-insurance, or deductibles.
How does my documentation impact billing and patient coverage?
Fay’s billing team can only submit claims based on what is documented in the chart note. To support accurate billing and maximize the likelihood of insurance coverage, providers should include all relevant clinical details in each note. When applicable, this includes the patient’s current weight, diagnosis, and any other medically necessary information. Incomplete documentation may impact how services are billed and can affect a patient’s coverage or out-of-pocket cost.
How is insurance billed?
Insurance reimbursement is limited to direct, one-on-one patient care. Insurance billing follows CMS guidelines, including billing in 15-minute increments and the 8-minute rule. These guidelines are a core element of compliant care delivery across the industry.
What does Fay charge insurance?
Fay charges insurance companies at a higher hourly rate to reflect the value of your time and help maximize your reimbursement, while minimizing what the patient owes. Insurance companies rarely reimburse the full billed amount, and your patient will not owe that amount. If there is any remaining balance after insurance processes the claim, Fay will communicate directly with the patient about what is owed.
I received a notification that my patient does not have a valid credit card on file. What does this mean?
A notification that your patient does not have a valid credit card on file means either their card is not working or a valid card was not added to their account. This notification is a warning that your patient's account is at risk of being suspended if their payment information is not updated before their next appointment.
Note: Your patient can update their payment information by navigating to the Settings section of their Fay account, accessible by clicking the settings icon next to their name in the bottom-left corner of their screen.
Is Fay billing through a group?
Fay bills through a group NPI. Providers are credentialed with payers through Fay, and claims are submitted under Fay’s group NPI.