System and method for improved medical billing, payment, record keeping and patient care

A computerized time clock system for medical billing comprising:

• a.) a patient electronic card input;
• b.) a physician electronic security key input;
• c.) a billing timer that is activated when both a valid patient electronic card input and a valid physician electronic security key input are received by the computerized time clock system;
• d.) a hold function to temporarily stop and restart the billing timer;
• e.) a soft signal to alert a medical practitioner and a patient to passage of a pre-programmed time interval;
• f) a means for stopping the billing timer upon completion of a patient visit;
• and
• g.) a means for transferring billing information collected by the computerized time clock system to a medical billing system.

A method of billing for medical services comprising the steps of:

• a.) Preparing pay scale data that contains pay scales for various medical practitioners;
• b.) Recording a total billing time for medical services given by a medical practitioner to a patient on a specific time and date;
• c.) Establishing a base time and a base charge for medical services given by the medical practitiorier from the pay scale data;
• d.) Determining a variable time for medical services by subtracting the base time from the total billing time;
• e.) Determining a variable charge for medical services by multiplying the variable time by pay scale data for the medical practitioner;
• f) Determining a total charge for medical services by adding the base charge to the variable charge;
• and
• g.) Sending the total charge for medical services to a medical billing system for use in producing an invoice for medical services.

A method of determining a medical copayment comprising the steps of:

• a.) Preparing copayment data that contains a base charge time, a base copayment, and an additional copayment rate;
• b.) determining a copayment time by subtracting a total billing time for medical services given by a medical practitioner to a patient on a specific time and date from the base charge time;
• c.) determining a variable copayment by multiplying the copayment time by the additional copayment rate;
• d.) determining a total copayment by adding the base copayment to the variable copayment;
• and
• e.) Sending the total copayment to a medical billing system for use in producing an invoice for medical services.

A method of billing for medical services comprising the steps of:

• a.) determining a total billing amount by adding a total charge to a total copayment;
• b.) issuing a payment for the total billing amount by an insurance company to a medical practitioner;
• and
• c.) billing of the total billing amount by an insurance company to a patient of the medical practitioner.

A patient electronic card for improved medical billing, payment, record keeping and patient care comprising:

• a.) an insurance information module that contains medical insurance information;
• b.) memory for storing the medical insurance information;
• and
• c.) a security identification element operatively coupled to said patient electronic card.