MedXPrime Revenue Recovery is also known as “mr2”. mr2 means we always strive to deliver our services to the highest power. We go to the greatest lengths and expend our greatest efforts, multiplying our resources to ensure our clients’ full satisfaction. These are not mere words; we have developed this as a culture within the MedXPrime family of services since the inception of our company.
Our Managing Director offers 30+ Years of experience in the very complex world of Revenue Cycle Management and Recovery. She has a BS in Healthcare Management, is a certified coder (CPC) as well as being certified in Hematology and Oncology (CHONC), Radiation Oncology (ROCC) and Cardiology (CCC) coding. She is also an active member of the American Academy of Professional Coders (AAPC).
Her specialized experience in the medical billing industry, serving multiple provider types including acute hospital inpatient and outpatient services, physician offices, skilled nursing services and labs is what you need working behind the scenes to collect your money.
Humbly… she brings experience that is hard to match!
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%*.
Beyond that, she has some big wins with her previous clients. Here are a few examples:
- Collected over $2.8 million of $3 million in lost revenue due to improper protocol
- Reduced the coding error rate by 99% which increased revenue by $4 million
- Record reduction of DSO; numbers went from 120 to 30 days
- Reduced bad debt from 40% to 5%
- Increased clean claim rate from 50% to 98%
Need we say more?
Many companies tout their successes but can they deliver on projects with a high success rate?
Our team works with the bulldog tenacity necessary to get your A/R cleaned up, and to keep it from growing out of hand in the future.
Our team’s experIENCE includes:
- All medical specialties as well as Dialysis Centers, Outpatient Rehabilitation Therapy Centers, home health facilities, hospitals and laboratories.
- Medicare/Medicaid Revenue Cycle Management, as well as most Commercial insurances
- Managing commercial appeals, Medicare appeals, ADRs, RAC Audits, MAC redeterminations, ALJ hearings, as well as Medicaid appeals nationwide
- Specialty A/R collections such as Third-Party Liability, Workers Compensation and Medicare Secondary Payer claims
- Analyzing accounts receivable to formulate effective plans of action for A/R clean-up projects
- Reading, interpreting and negotiating Insurance Contracts and Fee Schedules to ensure physicians are fully paid for services provided.
Why do most medical billing companies choose not to focus on insurance A/R?
It is extremely time intensive and complex; very few billing companies have the knowledge and experience to analyze and recover the unpaid A/R. This is a major differentiator between MedXPrime Revenue Recovery and other companies.
A recent study by the American Medical Association found that medical practices spend almost $15,000 annually on phone calls, investigative work, and claims appeals associated with reworking claims, only to be unsuccessful in maintaining satisfactory collections. This is in addition to the millions of dollars left on the table every single year due to under-reimbursement.
Why are we so successful in collecting on old claims?
We understand the issues that cause denials:
- Incomplete or incorrect coding, bundled services, pre-authorizations or referral not obtained, demographic errors on claims, failure to prove medical necessity, missed timely filing deadlines.
mr2 has a solid understanding of corrective actions to take regardless of the denial reason given. Our team’s track record and experience in this area are what set us apart from the competition.
We can not only potentially collect on old claims but the information we share helps the client in reducing denials in the future.
*For these major clients, she and her team worked in the same system with the same specialties, had in-house coders, used a lock box, controlled all incoming payments and managed the practice’s front desk procedures.