U.S. Physical Therapy, Inc.’s Post

Tired of denied claims draining your practice's revenue? Dive into a world of financial resilience with our expert Denial Management in Medical Billing! Uncover the numbers: Practices utilizing our Denial Management services have experienced a staggering 25% reduction in claim denials and a 20% increase in successful reimbursement. Don't let denied claims hinder your financial success – take control today! Revolutionize your revenue stream with our specialized Denial Management. We identify root causes, implement strategic solutions, and ensure your claims are processed smoothly. Recover what's rightfully yours and fortify your practice against financial setbacks. Contact Details: Reach out to us at : (213) 457 3458 email us at : info@sptbc.us https://bit.ly/40MD5MN #DenialManagement #MedicalBilling #RevenueRecovery #FinancialResilience

How to Deal With the Hidden Problem of Insurer Underpayments When insurers pay less than the rate specified in a practice's contract, it can drain revenue without physicians even realizing it. As much as 3% of a typical practice's expected revenue is lost to underpayments, according to one estimate. To win back underpayments, billing staff must first root them out and then try to collect the correct amount from the insurer. Both tasks can be challenging — and most practices don't do them in any kind of systematic way, according to Taya Gordon, a practice management consultant with the Medical Group Management Association. https://lnkd.in/e3PVkzh6

We are thrilled to share the remarkable success of the Nobility AR Project, which began in August 2023. Intending to recover the clogged old AR, our dedicated team of 6 AR representatives tackled this challenge head-on and recovered a major sum out of potentially lost revenue. 💡 Key Outcomes: 1. Recovered 22% of the total AR 2. Enhanced claims processing efficiency 3. Accelerated payments 4. Improved financial health of the medical facility 5. Achieved this with an expense of only 10% of the recovered amount #HealthcareFinance #RevenueCycleManagement #MedicalBilling #ARRecovery #FinancialHealth #HealthcareSuccess #RCM #ARManagement #MedicalFinance #OperationalEfficiency #ClientSuccess

Does your collection agency’s performance decline a few months after placement of patient receivables? We believe providers and patients deserve more than “place and forget”. Visit pendrickgroup.com to learn how our optimized managed collection services deliver sustained returns up to 30% higher than a traditional collection agency. #revenuecyclemanagement #healthcarereceivablemanagement #collectionservicing #medicaldebtcollection

The new on-demand technology platforms offer a path out of this quandary. When linked to taxi and NEMTAC that time stamp and GPS stamp every pick up and drop off, and except links through APIs, you can have a variety a ride providers that take a variety of funding sources and enable people to share rides to get the most rides per budgetary allocation.

Facing denied family practice claims? It's time to tackle legacy AR head-on! Here are the top strategies to boost your practice’s financial health. 1️⃣ Conduct Regular Audits Recover up to 20% of overlooked revenue by identifying and correcting billing errors. 2️⃣ Improve Documentation Accuracy Proper coding and detailed documentation enhance claim approvals. 3️⃣ Streamline Billing Processes Automate claims and ERA processing to accelerate reimbursements and avoid denials. 4️⃣ Proactive Follow-Up Establish follow-up teams to track unpaid claims and reduce financial strain. 5️⃣ Engage Patients Educate patients on their financial responsibilities to improve revenue recovery. 6️⃣ Outsource Billing Let Billing Buddies handle your billing tasks for optimized reimbursements and reduced claim denials. Focus on patient care while we handle the rest. Contact us today: https://bit.ly/3Vm4vWQ #billingbuddies #medicalbilling #contracting #credentialing #practicemanagement #hHealthcarefinance

Navigate the complexities of medical billing effortlessly with Medical Billing Wholesalers! Uncover our services, covering claims submission, work edits, and rejection management. Simplify and optimize your practice. https://lnkd.in/gZtmgdp #MedicalBillingSimplified #HealthcareEfficiency #BillingOptimization #HealthcareSupport #MBW

The recent #SCOTUS decision eliminating the #ChevronDoctrine of agency deference has sent the regulatory landscape back 40 years. Here is how it may affect your reimbursement audits and appeals. Polsinelli

By carefully considering your options and devising a solid plan, you can optimize your cash flow and ensure timely payments by improving your medical claims billing with these expert tips. Read more here: https://bit.ly/42CKzRD #medicalbilling #medicalclaims

“Crowe research has found that self-pay-after-insurance patients (the deductible amount and/ or the residual amount due from the patient after insurance payment) represented nearly 60% of patient bad debt in 2021, a five-fold increase in just three years.” If benefit consultants and HR leaders are making plan design and financing decisions, why are they not factoring “out of pocket” member costs as a variable of the total plan financing? And why are they electing networks that are so costly that they expect employees to bear such a high percentage of the financial liability? And why aren’t plan fiduciaries understanding the impact this has on their liability? Most of the groups I have at HST - A MultiPlan Company are $1k deductibles or less, with a sizable amount being $0 or $500 deductibles.