Remark code N571 indicates that payment will be made quarterly by a different payer or contractor, affecting claim processing.
Remark code N571 indicates: Alert: Payment will be issued quarterly by another payer/contractor.
Common causes of code N571 (Alert: Payment will be issued quarterly by another payer/contractor) are:
1. The claim has been identified for quarterly payment processing by another payer or contractor, often due to the specific contractual agreements between the healthcare provider and the payer.
2. The services billed fall under a category that is subject to quarterly, rather than immediate, reimbursement as per the payer's policies or a special payment schedule agreed upon.
3. The claim submission coincides with the end of a payment cycle, and the payer processes such claims on a quarterly basis.
4. There may be a coordination of benefits issue where the primary payer has determined that another payer is responsible for the claim, and that payer disburses payments quarterly.
5. The claim involves a pilot program, special project, or trial service that is subject to non-standard payment schedules, including quarterly payments.
6. Incorrect billing or coding might have inadvertently flagged the claim for quarterly payment processing.
7. The healthcare provider is enrolled in a specific program or contract with the payer that stipulates quarterly payments for certain services or under certain conditions.
Ways to mitigate code N571 include implementing a robust tracking system to monitor and manage payments from multiple payers. This involves setting up alerts for quarterly payment schedules and ensuring that your billing team is aware of and prepared for these unique payment timelines. Regularly updating payer contract details in your RCM system can also help in identifying and adapting to payer-specific payment schedules. Additionally, establishing a direct line of communication with the payer in question can facilitate smoother coordination and potentially expedite the payment process. Training your billing staff on the nuances of dealing with various payer contracts and their specific payment issuance schedules will further minimize the impact of this code on your revenue cycle.
The steps to address code N571 involve a multi-faceted approach to ensure that your healthcare organization manages and anticipates the quarterly payment schedule effectively. First, update your billing system to flag any claims associated with this code, ensuring that your accounts receivable team is aware of the delayed payment timeline. This will help in accurately forecasting cash flow and managing expectations internally.
Next, communicate with the other payer or contractor to confirm the specific dates or weeks when the payments will be issued each quarter. This information should be documented and shared with the relevant departments, such as finance and accounting, to adjust financial planning accordingly.
Additionally, it's crucial to review any contracts or agreements with the payer that mentions this quarterly payment arrangement. Understanding the terms can provide insights into whether this payment schedule can be negotiated or if there are any conditions that might lead to more favorable terms for your organization.
Implement a follow-up procedure to check on the status of these payments a few weeks before they are due. This proactive approach can help identify any potential issues or delays early on, allowing for timely resolution and maintaining a steady cash flow.
Lastly, consider setting up a separate ledger or account in your financial management system specifically for tracking these quarterly payments. This will simplify reconciliation and ensure that any discrepancies are quickly identified and addressed, keeping your revenue cycle management smooth and efficient.
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