How To Fix Remark Code M972 (RARC) | Common Reasons, Next Steps & How To Avoid It

Remark Code N774 means that there is an alert regarding fees associated with a specific payment type. This code is used to notify healthcare providers to refer to their Third Party Processor Agreement for detailed information on the fees related to this payment type.

1. Description

Remark Code N774 serves as an alert to healthcare providers regarding fees associated with a specific payment type. The official description states: ‘Alert: Refer to your Third Party Processor Agreement for specific information on fees associated with this payment type.’ This code is designed to ensure transparency and provide healthcare providers with the necessary information to understand the financial implications of the payment they receive.

2. Common Reasons

1. Lack of knowledge about specific payment type fees: Healthcare providers may be unaware of the fees associated with a particular payment type, leading to confusion and potential financial challenges.
2. Inadequate understanding of the Third Party Processor Agreement: Providers may not fully comprehend the terms and conditions outlined in their agreement, including the details of the fees.
3. Failure to review the Third Party Processor Agreement: Providers may overlook the importance of regularly reviewing their agreement, resulting in a lack of awareness regarding fees.

3. Next Steps

1. Refer to the Third Party Processor Agreement: Healthcare providers should carefully review their agreement to gain a comprehensive understanding of the fees associated with the specific payment type.
2. Contact the Third Party Processor: If there are any questions or concerns regarding the fees, providers should reach out to the Third Party Processor for clarification.
3. Update internal processes and systems: Providers should ensure that their internal processes and systems are aligned with the fees outlined in the Third Party Processor Agreement.

4. How To Avoid It

1. Thoroughly review the Third Party Processor Agreement: Healthcare providers should carefully read and understand the terms and conditions of their agreement, including the details of the fees associated with different payment types.
2. Maintain open communication with the Third Party Processor: Regularly communicate with the Third Party Processor to stay informed about any updates or changes to the fees.
3. Implement effective internal processes: Establish internal processes and systems that ensure compliance with the fees outlined in the Third Party Processor Agreement.

5. Example Cases

1. Case 1: A healthcare provider receives a payment and is unsure about the fees associated with the payment type. By referring to their Third Party Processor Agreement, they are able to gain clarity on the fees and understand the financial implications.
2. Case 2: A healthcare provider fails to review their Third Party Processor Agreement and is surprised by unexpected fees associated with a specific payment type. This highlights the importance of regularly reviewing the agreement to avoid any financial surprises.

Source: Remittance Advice Remark Codes