Financing Your First Business

Hiring Healthcare Underpayment Revenue Recovery Solutions

11 December 2020

Jimmie Holland

Most patients choose primary care providers and facilities for healthcare because they are accepted by their health plan. Established patients are counting on their care being affordable. Hospitals, clinics, and providers' offices do not always catch billing errors or underpayments of claims. Here are a few benefits of working with healthcare underpayment revenue recovery solutions.

Patients often first try to reach out regarding bills that they feel are incorrect over the telephone. Many physician offices are no longer fully staffed due to the pandemic. Once the patient reaches a person they may not have access to view the bill or the insurance claim the caller is concerned about. The call may be directed to a voice mail system of someone who does not call back. Calls that are returned are often by individuals who are not able to answer their questions.

Disgruntled patients who still do not have a remedy for their billing issue will call the insurance company. The claim in question may have been partially paid or denied. Some providers may still be accepting patients that they do not accept insurance for. Annual renewal contracts that slip through the cracks can cause thousands of dollars in bills for the patient where services are billed without any insurance. Cash flow problems often occur when the practice is short on thousands of dollars from unpaid claims.

Having dedicated help to sort through which insurances are accepted, active, and paying at a profitable rate of pay is important. Hiring healthcare underpayment revenue recovery professionals is a great way to always have a second set of eyes for billing issues. The outsourced staff members will be able to follow through with resubmitting claims and ensuring that claims sent into insurance providers are actually being paid as agreed. If more than one claim resubmission or paperwork is needed the office staff does not have to stop their duties.

The healthcare underpayment recovery team can provide assistance by providing updated billing codes. These codes can be implemented into current software to improve the chances of claims being paid correctly the first time. When patients call the provider's office with billing questions they can be transferred or given a direct number for help. Reports can be requested to confirm how much income has been recovered through the efforts of the healthcare underpayment recovery team.

Increasing the profit in a busy practice can be done by hiring professional help to track claims and incoming insurance payments. Use these tips when improving accounting systems with healthcare underpayment recovery solutions. 

Share

Search