Why is our “WOW” report critical to your practice?
- In 48 hours we invest extensive time and labor to prepare a no-cost, detailed sample analysis explaining why you have thousands of dollars in outstanding insurance A/R. These efforts will validate our knowledge and experience to earn your business.
- Our ‘WOW’ report shows you where your billing company missed the mark. We provide a specific road map to recover significant amounts of lost revenue.
- One of your most valuable but frustrating assets is your insurance accounts receivable. We help doctors just like you recover thousands of dollars in lost A/R.
- We turn aged accounts into real bottom line assets. We put money in your bank that was not there before and was very likely never going to be.
Time is of the Essence
- Insurance A/R is subject to very strict timely filing deadlines. Every day you delay, visualize your claims falling off a cliff, lost forever. With prompt action, we can minimize your loss.
- A/R Recovery is time-intensive and is not something most billers are willing or able to accomplish. We have a team of bulldogs that clamp down and don’t give up the fight.
- We are NOT a collection agency but a team of highly skilled forensic recovery specialists that thoroughly understand claims, coding, and most importantly, we can deliver for you.
- Lost insurance revenue has become a financial crisis and a management headache for so many practices. Let us get you back on track!
Our Billing Director Offers 30+ Years of Experience.
We are a specialized team in revenue cycle management:
Bulldog tenacity to recover every dollar you deserve
Labor intensive analysis identifying root causes for current A/R issues
Experienced in managing all types of payer claims, denials and appeals
Current with regulatory changes and best practices for maximized reimbursement and compliance
Why it makes good financial sense to outsource to MedXPrime Revenue Recovery:
A 2016 Black Book survey revealed that medical business office outsourcing was slated to increase 30 percent in the next year among practices with 25 physicians or fewer because of declining reimbursement rates and value-based care models.
The survey further reported that 59 percent of medical providers and 86 percent of hospitals said that their organizations plan to eliminate medical billing processes that are resource-intensive, error prone, manual, and back-end. These providers pinpointed five factors other than declining reimbursement that caused their organizations to consider revenue cycle management and medical billing outsourcing, including:
- Inefficient billing processes
- High staff turnover rates*
- Lack of health IT know-how
- Stress of financial and staff management
- Declines in direct patient care time
Claim processing is the economic life blood of a practice and a new or replacement employee in the billing department inevitably leads to slowdown in the processing of claims, which means a slowdown in receiving your money.
82% of practices that elected to outsource business office services in the third quarter of 2015 experienced a decline in the number of rejected claims and the time it takes to collect payments from payers during the first two months after outsourcing implementation.
*According to the US Department of Labor and Statistics, employee turnover can cost a business up to 33% of each employee’s total compensation including both salary and benefits. 97% of independent groups and solo practices reported high business staff turnover rates and 83% of hospital-based physicians said they had difficulties recruiting business office personnel that had experience with ICD-10, value-based care, risk contracting, and MACRA.
Prior to joining mr2, over an 8 year period, our Managing Director led a team that billed $3 billion for a major cardiology and oncology practice with a collection rate of 97%.
WHAT COULD WE DO FOR YOU?