Accelerate your healthcare receivables and increase Net Revenues at little or no cost
At RevenueXL, we believe that effective Account Receivables Follow-up and A/R Management are extremely important activities to ensure optimum revenue recovery. The average profit margin of US hospitals is less than 2% of Net Revenue, and lost revenue due to denials averages between 6% and 10% of net revenue nationwide.
Compelling reasons for proactive A/R Follow-up and Management
Consider the following facts:
- 14% of all claims submitted to payers are denied and have to be resubmitted, appealed or written off by Providers.
- 50% of denied claims are never re-filed.
- 90% of denials are preventable.
- 50-70% of denied claims are recoverable.
Every year practices lose thousands of dollars that simply get left behind and fall off the desk. Then making matters worse, physicians end up emploring additional resources causing additional expense associated with reprocessing denied claims.
Contact us today to discuss your A/R managements concerns and we would be delighted, at no cost to you, to assess your A/R and then prepare a proposal for you to review to see how we can minimize and accelerate your cash flow. You can bank on it!
RevenueXL's secret recipe for successful A/R Follow-up and Management
We use technology and people skills to follow up with the payers to identify, address and rectify the identified problem.
- Identify accounts that require AR follow-up with the Payers
- Account Receivables analysis with respect to aging and filing/appeal limits of the various payers
- Focus on those low-value, low-margin accounts that make it difficult for you to profitably recover your revenues.
- Define strategy and process to maximize recovery. This includes identification of difficult accounts and transferring ownership of those select accounts to a specialized team of experts.
- Use all suitable channels of communication for follow-up. This includes web, phone, email and fax.
Even if you and / or your current billing company have written off large amounts of Insurance AR (Account Receivable) balances as unrecoverable, contact us today to determine how RevenueXL can help you to recover lost revenues.
Outcome:
- Accelerate revenue cycle
- Improve cash flow
- Reduce receivables
- Increase Collection ratios