The history of the CMS 1500 form.
If you’re in a medical office position, typically, insurance reimbursements come from submissions of specific forms. Confusion can often result from the myriad of options. The CMS 1500 form is one of the most critical when working in professional medical offices when requesting payment. Initially the form was named the HCFA 1500. However, it was re-dubbed the CMS 1500 afterward. The form got its name after the center for medicaid & medicare service, which implemented the standard.
Generally, this form is required to request payment from some Medicaid State Agencies.
The form is mostly used by non-hospital providers and suppliers in the medical industry. The standard guideline is that it should be submitted within one year of providing the service for insurance payment. Since the form is printed using a certain kind of ink, you can’t simply download or copy it.
If the form is not exact it will not be read correctly.
The forms are scanned using a specific technology called Optical Character Recognition. Successful form submissions only happen when you use the exact form, with the correct information. When you go to submit your claims, verify that you have the most recent cms1500 claim form, and double-check it has the correct ink. As a precaution, speak with your supply order person. Verify that they clearly buy cms 1500 version 02/12 forms from an industry leader.
Failure to follow these 2 basic rules will result in rejections and delayed reimbursement.
On top of this, waiting too long to re-send the corrected document could result in no payment at all. The point is – when using this form, get it from a reliable supplier. This will ensure on-time insurance payments, keeping your cash-flow where it should be. Large corporate suppliers can consider using 1500 claim form software, instead of using paper forms. The software makes it easier to submit at the press of a button, and the recordkeeping is easier as well.