Why most physicians get paid within 60 90 instead of 14 30 days

Why Most Physicians Get Paid Within 60-90 Instead of 14-30 Days?

Presented By

Medical Billers and Coders

Bottom lines for Claims Paid Minimum payment days:

On filing a clean claim the minimum time a physician will be paid differs on the payer: Federal payers - (Medicare/ Medicaid) – pay clean claims within 13-15 days and other commercial payers - pay clean claims within 27 to 30 days

Industry standards:

Claims generally take anywhere between 40 - 169 days to be paid, with an AR cycle of generally 60 90 days

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Why Delay?  Claim may not be for a covered contract benefit  Patient's preexisting condition is not covered or patient coverage has been cancelled  Case is under consideration as Workers' compensation (WC) is involved  Payer considers the physician's procedure experimental  Preauthorization for a procedure or for hospitalization was not obtained  Services were provided prior patient's health insurance contract went into effect  Payers may ask for additional information  Payer has requested information about another carrier for coordination of benefits

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How Get Paid Faster?

Following questions can assist Physician’s in determining cause and also do a maintenance assessment:

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How many claims were submitted in the recent 30 day period?

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Of those claims approximately what percent were denied and most frequent reasons for the denial?

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Of those claims approximately what percent were delayed and most frequent reasons for the delay?

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Does the denied or delayed percent vary between paper and electronic claims?

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Does the billing staff track the percent of claims that are denied on the first submission?

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Is there a policy in place for bad debt collection?

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Getting Paid Faster with the Help of a Billing Service?

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The top 20 outsourcing firms, based on the number of national healthcare clients, reported 13.1% growth from 2010 to 2011

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US Healthcare provider outsourcing is projected to have the highest growth rate of 31.9% from 2011 to 2016 driven by ICD-10 transition implementation

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Reducing your AR days with MBC 

Being specialist in billing services our Medicalbillersandcoders.com experts are constantly looking for avenues to bring down your AR days, some of the procedures we have in place include

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Weekly & monthly reporting

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Review of EOB's

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Reason for denials

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Getting required documentation

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Regular follow-up process

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Dedicated appeals team and studying of contracts before it reaches appeal stage.

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Reducing your AR days with MBC

Medicalbillersandcoders.com the largest consortium of medical billers and coders serving healthcare for over a decade across all US States and varied specialties by applying all the above standards has a past track record of: Reduced Denials: nearly 10-15%

Cleaner claims: 97%

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AR days reduced: 30-40%

1st pass denial rates: less than 3%

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Savings: nearly 32% Enhanced collections: 1015%

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About Medical Billers and Coders Medical Billers and Coders is the largest consortium of Medical Billers and Coders in the united States. Our aim is to help the physician community to reach the right expertise at the right location at the right time.

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