Healtthcare Underpayment Revenue Recovery Solutions

17 September 2020
 Categories: Finance & Money, Blog

Staying healthy and mobile is always a priority for all members of the community. Established providers have earned a level of trust within the community. Finances are not always at the forefront of the office staff when doing their daily work. Staff members often are hired under the expectation of a specific job description. When additional duties are added, it can lead to a slowdown in the flow of the office. Secretaries and even other in-office staff members who handle prior authorization requests or billing may not have time to handle additional questions. These financial concerns regarding billing issues may come in from current patients or vendors who provide services to patients and are not getting paid on time. When multiple local vendors and specialists are not being paid on time, it is only a matter of time before they may refuse service or referrals.  Here are a few ways to benefit from healthcare underpayment revenue recovery solutions. 

The copayment amount the patient pays is an extremely small portion of revenue expected from that date of service. It can take several weeks for the claim to process and the business to receive payment. It is common for healthcare providers to not know what the statute of limitations is regarding each type of claim. Staff members may know about outstanding claims but might not be sure which steps to take next. 

Hire healthcare underpayment revenue recovery solutions to have a dedicated experienced team see exactly where the underpayments are occurring. It is a waste of in-office resources to sort through paperwork, claims, and overdue bills to seek out solutions. Repricing according to current rules with the health plan is important when resubmitting claims. Healthcare underpayment revenue already has access to the technology that can quickly obtain the correct repricing amount and resubmit the claims. 

 After carefully reviewing the office procedures regarding billing and how claims are submitted, the healthcare underpayment revenue recovery service will provide a new system. This new system will provide clear steps for each member of the office to drastically increase cash flow. It often takes a few months for the medical provider to see exactly how the changes implemented have increased business revenue. 

Underpayments can drastically cut into the operating budget for a medical practice of any size. Act today and obtain healthcare underpayment revenue recovery services to feel confident that there will be enough revenue based on the services provided to keep all expenses current. 

To learn more, contact a resource that provides healthcare underpayment revenue recovery solutions.