THANKSGIVING DAY & BLACK FRIDAY OFFERS

On this Thanksgiving, we are thankful for our providers, patients, and our billing experts We wish you a great holiday season and hope to serve you soon. The pandemic took a toll on many medical professionals and front-line offices. To express our gratitude towards the healthcare organizations we are providing the below offers as a token of our appreciation-

For independent practice or a group of combined organizations, we aid you in bringing all of your finances and reducing your outstanding Accounts Receivable. We are providing offers on the below services.

You can keep monitoring your AR reports that have several pending claims, provider-based rejected claims, insurance-based rejected claims.

• Will receive reports on how many claims are still pending and the total dollar value of claims
• The report will pinpoint provider-based rejection, the number of claims rejected by the insurer, the dollar value of rejected claims, and the reason for a rejection
• For insurance-based rejection, the report will indicate the payer-specific rejection report along with specific payer details, the number of claims rejected by each payer, and the dollar value of the rejected claims. 

Example: If DR.X’s claims are repeatedly rejected for “The procedure/revenue code is inconsistent with the patient’s age”, the provider/biller can be educated on taking appropriate precautions.

Charges and Payments:Reports that have all charges and payments related documents that include patient payments, insurance payments, and adjustments

To move forward, you must first identify which areas require improvement. This report includes information on the count, payment, posted value, and un-posted value of both your insurer and patient payments. Your charges vs. payments report will tell you whether your billing cycle is strong or weak

Being classified as a variety of benefits, including improved performance, increased productivity, and a better ability to deal with stress. Your reputation is determined by how organized you are perceived to be. And, for better or worse, your punctuality, dependability, and conscientiousness can all have an impact on the people you work with.

Healthcare organizations lose significant value on Accounts Receivable if not submitted with the time frame. 

With careful attention, you can reduce your aging AR claims. BillingParadise revenue auditing experts will analyze and categorize your outstanding AR to assist you in making informed decisions. Your AR data are analyzed based on MGMA standards. 

Claims that crossed 90 days are worth only 20% of the original value and 5% of the original when claims cross 120 days. From 0-30 days to 180+ days aging AR is aligned meticulously.

“Based on historical data, we will review both of your billing performance and offer coding advice regularly, and a detailed presentation in PPT format will be provided”.

Providers who are having a tough time evaluating the root cause of lost revenue should evaluate their clinical documentation processes. Health professionals should have a proposal throughout the requirement to guarantee that they can collect payments more rapidly and manage those resources wisely. 

Insurance denials and self-pay failures are two of the most common causes of revenue loss. Other causes include lost charges, missed payments, underpayments, and rework costs. We provide reports on collectible and Non-collectible revenues

Collectables revenue: Understanding how to assess your net collection rate is the first step toward optimizing it. Several steps are required to calculate the net collection rate:

Non-collectible Revenue: Non-collectable AR may be difficult to obtain. However, you can find a way to negotiate with payers about it, such as reimbursing a percentage of the claim alone. In some situations, you may be able to challenge the claim and receive a reduced payment. Ex; Untimely Filing

Short-term work agreements have grown in popularity in developed countries over the last decades. This resource will be provided for a month or less to assist with your smaller projects or cleanup activities in payment posting or AR calling. We analyze your AR with the available documents and metrics which will help you to acquire your finances in a short time. This resource will showcase your complete (Strengths-Weaknesses-Opportunities-Threats) in a structured method.

Let’s say for example, in your office, an AR specialist needs to go on emergency leave and your hospital/clinic is struggling with an unusual workload. You’re already juggling too much, and the stress is mounting, so this temporary resource can help outcome your upcoming financial crisis.

“This will be done freely without any service charges; we will analyze the scope for payers based on their patient demographics and project the right payer mix for participating vs non-participating for a better revenue generation”.

We look and review the credentialing files-

• Licensure-when physicians are licensed in another state, the credentialing office must verify all current licenses and investigate any sanctions in that state.
• Sanctions-request a statement from the state licensing board confirming that the physician is not sanctioned.
• Check to see if the credentialing office contacted the malpractice insurer to inquire about the physician’s malpractice history.
• DEA certification-copy of certificates
• Verify board certification by contacting the certification board. 
• Experience, education, and training are the three pillars of a successful career.
• The number of peers who will assess your competence should be established in the bylaws or credentialing policies and processes.

The goal of this sample audit work program is to analyze and evaluate the current hospital credentialing process, as well as to identify the key controls that govern it. 

We review the department’s policy and protocols as they relate to the physician security framework; interview key departmental personnel in charge of executing the process; identify risks that may arise during the process and examine the design efficiency of current controls designed to mitigate these risks, and identify process holes or flaws and recommend improvements.

Start utilizing the above offers on or before this “Thanksgiving day or Black Friday” to improve your finances.

For more information about the offer click the below link.