As Medical Billing Service uses the Medicare Eclipse System for the majority of claims, recovery is achieved within 3-5 business days provided it is not a disputed claim. All recoveries are then reconciled with our billing system prior to being disbursed.
Recovered funds, less our processing fee, are disbursed into your nominated bank account twice monthly. Supporting paperwork is mailed to you once the disbursement has occurred. The following documents are included for your reference:
Electronic Funds Transfer (EFT) Remittance Advice – shows the Net Recoveries deposited into your nominated bank account by Medical Billing Service.
Detailed Disbursement Report – shows itemised details of recoveries by patient.
Tax Invoice/Receipt – shows the processing fee deducted for that fortnight inc. GST.
Quarterly BAS Data Sheet – to assist you with preparing your BAS returns.
End of Financial Year Report – to assist you with preparing your Income Tax Return.
Recovery & Disbursement