THE “BUSINESS” OF MEDICINE IS UNDER ASSAULT!
The speed of turning claims into cash is directly proportional to a healthcare Providers ability to survive!
Currently, the industry’s primary focus is expediting a high volume of claims, quickly! However, many times this results in claims not being paid in their entirety. Combine that fact with the insurance companies “planned” non-payment program and the national average reimbursement on contracted fees by hospitals is in the +/- 50% range. There are a number of issues which complicate the above referenced process and its solution:
- Ever-changing government regulations and compliance issues requiring an ongoing re-training of personnel
- Complex coding requirements vary with each insurance provider
- Insurance service/in network contracts are biased, limiting the insurers financial accountability
According to American Hospital Association’s January 2016 Fact Sheet, since fiscal year 2000 “hospitals of all types provided more than $538 Billion in uncompensated care…”*
*Source: Fact Sheet – AMERICAN HOSPITAL ASSOCIATION (2016, January). Retrieved May 30, 2017, from http://www.aha.org/content/16/uncompensatedcarefactsheet.pdf
WHAT IS THE SOLUTION?
Click on the file to the right to download the “FREE” Med X/S Recovery, white paper entitled, “The Med X/S Recovery Approach”
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