MediRevv Service Spotlight: Insurance Extended Business Office Services
Here is the second in the MediRevv Services Spotlight series. (Previously: self pay.)
There is an age-old trade-off in patient accounting: If you spread your team thin trying to collect from every aging category of A/R, or if you are not appropriately staffed, your overall efficiency and therefore overall collections will typically be less than dazzling. Conversely, if your team concentrates on the most collectible A/R balances, you will inevitably leave money on the table in the hard-to-collect aging categories.
Nowhere is this trade-off more evident than in insurance collections. Simply put, insurance collections are long and involved, encompassing patient registration, insurance eligibility and benefit verification, charge capture and claims processing. Errors introduced at any point during a patient’s care continuum will result in soaring claim-denial rates. (Did you know that the best practice benchmark is 4% or less for claim-denial at first submission? Where do you stand?)
And, do you “speak” insurance? We’re sure you have noticed it has a language all its own!
At MediRevv, we not only speak and understand the language, we have broad experience navigating the internal intricacies of insurance organizations, and we employ specific methods for documentation and follow-up, moving claims forward quickly and correctly. In essence, we pick up where provider resources simply cannot be efficiently deployed, leaving you to focus on more collectible A/R balances.
Specifically, our Insurance Service Offerings include:
- Ongoing Insurance Resolution
- Defined Insurance Resolution Projects (by age date or payer)
- Denials Management Solutions
- A/R Liquidation and Conversion Projects
- Eligibility Services
- Key Performance Indicator (KPI) Reporting Solutions
When MediRevv handles your insurance business, our highly trained staff becomes an extension of your organization: professional, accurate and transparent. Ask us about Bon Secours Charity Health System and St. Joseph Heritage Healthcare, two long-standing provider partners for whom we handle insurance.