UNION CITY, N.J.
- July 2, 2014
-- “Show me the money!” The famous phrase uttered by Tom Cruise in his role as Jerry Maguire, the fast talking sports agent in the 1996 hit film, has been echoed countless times. And when it comes to running your medical practice, seeing the money is an absolute necessity. You provide services to your patients, and you need to collect for them.
All too frequently practices pull their aging reports and 30,60,90—even 120 days out, there are unpaid claims. When added together, these claims are costing practices tens of thousands of dollars. On top of recouping these payments, then there is also the extra legwork that goes into denials management.
It’s inevitable that you don’t have a 100% clean claims ratio. It’s virtually impossible due to the fact that claims can be rejected for any number of reasons, ranging from lack of pre-certification or prior authorization, to diagnosis and procedure coding errors and omissions, to complicated workers’ compensation issues. In fact, according to the AARP (http://www.aarp.org/health/medicare-insurance/info-09-200...
), 200 million claims are rejected every year, and 60 percent are never resubmitted, resulting in a financial loss for the practice.Imagine this:- Shorter collection time
- Your staff freed for other office activities
- More money collected
It’s a reality. We can show you the money. Why continue to suffer with the burden of difficult-to-
manage accounts receivable when you can rely on an outsourced staff that is tenacious and will relentlessly work to recoup your hard earned dollars. It costs $25 to $30 for you to manage the average denial, according to the Medical Group Management Association (http://www.mgma.com/billing/
) (MGMA). For a fraction of that cost, a devoted, experienced team can follow-up (http://www.clinicspectrum.com/
on your report. And in the event of the claims denials, our experts won’t stop till they have identified the reason for the denial, helped correct the issue, and gotten you your money—faster.