Press Release

MEDICAL PRACTICES FINALLY CAN LEVEL THE PLAYING FIELD: Say “NO” to Discounted Medical Claims

 

USA, 12/12/2022 – Most medical practices we speak to believe they don’t have a collection problem.  The reality is they do.  The average practice is owed hundreds of thousands to millions of dollars in open or closed medical claims against the insurance companies, and they don’t even realize it.

Have you ever looked at your patient’s bills and seen reductions of charges that your practice charged, and the insurance company significantly adjusted the claim and paid it?  Is that legal?  The reality would surprise you.  

 

Our collective approach is the only company we know of aggressively going after insurance companies to get what is rightfully yours in a legal, painless, and fast process that works. Let us work for you, as we will go back up to 4 years and find those claims that were written off, reduced, or just flat out not paid, and get you the money your practice has earned.  In many cases, we are talking hundreds of thousands and, in larger practices, millions of dollars in collectible claims.  

 

The average practice is owed $600k, and we are typically

able to recover at least half of that*

Don’t miss out on claiming the money you’re owed.

 

 

We have a different, extremely effective approach that provides prompt payments and produces tangible results, putting your practice at a huge advantage.  

 

Here are the typical ways Doctors, hospitals, and medical practices collect on their 90+ late insurance claims:

  • Settle for a claim reduction 
  • Internally Write it off
  • Closed claims 
  • Hire an attorney 
  • Turn over to a collection company 

 

Most medical practices have NO IDEA that they can go back up to 4 years or longer 

and get paid what they are owed by the insurance company even if the claim 

was already paid but was significantly reduced.

 

Don’t hire an attorney or bill collector to collect from the insurance companies. Medical professionals struggle to recover money from insurance companies promptly. Although some insurers consistently processed claims within 30 days, other insurers might take as long as 120 days to pay claims. This unpredictability in the reimbursement process caused numerous healthcare providers to experience cash flow difficulties and other operational problems.

Medical insurance claims submitted by doctors, dentists, and hospitals with proper documentation must be paid within set time limits or face penalties and other sanctions. These are called “prompt-pay statutes” and primarily apply to the healthcare industry.

Once the insurance company is contacted by a third-party biller on behalf of a healthcare provider, they are reminded of their duty to pay claims promptly. Failure to resolve medical insurance claims on time may violate state law.

These laws and pay-out periods vary from state to state in operation, complexity, and severity. Still, they share the goal of compelling insurers to promptly and fully pay all legitimate claims. These issues are expected to grow significantly in the next ten years.

 

Contact Information: David Bynum, Claim Procurement Specialist