First and Foremost: Medical Necessity
At Precipio, we recognize that we are a member, and corporate citizen of the healthcare community, and as such we play a role in ensuring the reduction of the payment burden within the system. Therefore, we take strict measures to ensure that only testing that is medically- necessary, is conducted. Our tests follow strict guidelines and protocols established to exclude medically-unnecessary tests, to ensure that the costs passed on to payers, are minimized.
Our billing policies and procedures are outlined below. These policies and procedures may vary based on the payer type, and may also be updated periodically. For the most updated information, physicians and their patients may contact us at 203.787.7888.
1. Medicare/Gov’t-based insurance
Precipio is an approved Medicare provider and accepts Medicare reimbursement based on payment codes published by CMS.
Precipio will follow Medicare collection guidelines in terms of billing Medicare and supplementary/secondary insurer.
2. Commercial Payers – In Network
For those patients where Precipio is in-network with their insurance providers, Precipio will bill those payers according to the contracted rates.
Patients will be responsible for any co-pays and deductible charges as per their own policy.
3. Commercial Payers – Out of Network
For those patients where Precipio is out-of-network with their insurance providers, Precipio will bill the insurance company as per Precipio’s customary rates, and make every attempt to collect payment from the insurer. In the event that the insurer does not reimburse Precipio, Precipio will make the necessary attempts as required by law, to get paid. These attempts will include sending three letters to the patient outlining their payment responsibilities. In the event that the insurer declines to pay Precipio, we will work with the patient toward an affordable patient balance.
We strive to reach every patient in need of our expertise, regardless of financial status. Please refer to the Patient Financial Assistance Form