In this new environment of the business of medicine, I’ve been asked, “Who is the new payer?” Good question. It seems that the patient is the new payer. With soaring deductibles and rising co-payments it has become more and more difficult to determine your revenue and responsibility. I have spent many hours in discussion with physicians, insurance companies and revenue cycle management organizations to develop a solution to this ever increasing dilemma.
Recovery Specialist, along with others in the business side of medicine have come up with some provocative questions to ask yourself.
How much revenue are you entitled to?
- What is fair and equitable payment for your services and who determines this?
- What does your contract say?
- When did you last negotiate with each insurance company?
- How do you receive this revenue?
- What is your policy on billing and collection?
- Are you compliant with the rules and regulations made by government agencies?
- Are you at risk for penalties and paybacks?
- Do you know how much revenue was lost due to inefficient management of coding and claims submission?
- What about your billing staff? Whether you have in-house billers or outsource to a billing company, how much was “adjusted” (a nice way to say written off) without your permission or knowledge?
This and many more questions can be answered by a short interview with one of our specialists who know how this “new” system works and how to make it work for you! Take a moment to think about this and if you don’t have an answer for every one of these questions, it’s time to think before it is too late. How do you protect yourself from improper denials by the insurance carriers, refund requests, lost revenue? We can help!
Call today! We are waiting to hear from you!