Remark code N84 indicates that additional installment payments are expected to be made for the claim in question. This code informs the healthcare provider that the current payment is part of a series, and that they should anticipate receiving further payments toward the total amount due for the services rendered.
Common causes of code N84 are:
1. The claim has been processed and payment is being made in installments rather than a lump sum.
2. The payer has a policy of releasing funds incrementally for certain types of services or over a specified period.
3. The total payment exceeds a threshold that triggers installment payments as per the payer's guidelines.
4. The provider has previously agreed to a payment plan with the payer for services rendered.
5. The installment payment approach may be part of a negotiated contract between the provider and the insurance company for high-cost services or procedures.
6. There may be regulatory or administrative reasons specific to the payer that necessitate installment payments.
7. The claim includes services that are commonly reimbursed over time to manage the payer's cash flow or financial risk.
Ways to mitigate code N84 include ensuring that your billing department is aware of the payment plan agreed upon with the payer. It's important to maintain accurate records of each installment received and to reconcile these payments with the patient's account promptly. Regularly reviewing accounts receivable can help identify any discrepancies between the expected installment payments and the actual payments received. Additionally, communication with the payer should be maintained to confirm the schedule of forthcoming payments and to address any issues that may arise, such as delayed or missed installments. By staying vigilant and proactive in tracking installment payments, healthcare providers can effectively manage their revenue cycle and avoid complications associated with code N84.
The steps to address code N84 involve reviewing the patient's account to ensure that the installment payment plan is accurately documented and that the payment schedule aligns with the expected future payments. It's important to verify the dates and amounts of the forthcoming installments and update the patient's billing record accordingly. Additionally, communicate with the patient to confirm their awareness of the upcoming payments and to address any potential issues that could affect timely payment, such as changes in financial status or insurance coverage. Keep a close eye on the account to ensure that each installment is received as expected, and if a payment is missed, reach out to the patient promptly to resolve the issue. It's also essential to maintain clear and consistent documentation of all communications and transactions related to the installment payments for accurate tracking and reporting.