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    Medical Billing News From ClaimCare

    Clean up your old AR with ClaimCare’s new AR Clean-Up and Denial Management service

    Posted by Carl Mays on Thu, May 20, 2010 @ 01:03 AM

    Tags: medical billing, medical billing companies, improving medical billing, denial management, medical billing resources

    AR clean up denial managementClaimCare is proud to announce a new service offering for Practices who do their billing in-house  - Old AR Clean-Up and Denial Management.  This new service will enable Practices who do not want to outsource their entire billing (or who are temporarily short-handed) to capitalize on ClaimCare's deep expertise with insurance follow-up, patient collections and billing processes.  

    "This is a great way for a Practice whose billing process is fundamentally sound but has room for improvement to quickly capture the collections that are tied up in old AR, receive targeted and actionable feedback on their billing process, and potentially gain concrete, lasting insights and improvements in their billing," stated Carl Mays II, President of ClaimCare, in a recent interview.

    With ClaimCare's AR Clean-Up and Denial Management service, Practices will receive:

    1. A seasoned insurance and patient follow-up team to work all of their AR over 60 days old - this frees the Practice's staff to focus on the current billing instead of getting bogged down with working the old AR;
    2. Feedback on the Practice's coding;
    3. Feedback on the Practice's adjustments (i.e., are charges being adjusted off that are actually payable);
    4. Feedback on the Practice's overall billing processes (e.g., poor insurance verification that leads to significant delays or denials, pin-pointing codes that are consistently denied, solving pre-authorization problems, etc); and (if you choose).....
    5. A series of dashboard reports for the Practice that will provide an on-going, easy to use reporting mechanism for the Office Manager to more effectively oversee the Practice's AR.

    "The reason that we call this a ‘denial management service' as well as Old AR Clean-Up, is because of the long-term improvements that ClaimCare's feedback and coaching will provide to the Practice," Mr. Mays explained recently.  He went on to say, "This program really provides the Practice with the best combination of AR recover and expert consulting - but "hands-on" consulting from a team who is actually working your old AR --- not just spending a few hours or a couple of days reviewing a sample of your charges or AR."

    To learn more about this innovative program, visit the Old AR Clean Up and Denial Management page of ClaimCare's website, email sales@claimcare.net, or call (877) 440-3044.

    About ClaimCare, Inc.

    ClaimCare Medical Billing Services stands out from the crowd of medical billing companies. ClaimCare offers a complete medical billing solution, has the only service level guarantee in the industry, offers best-of-breed technology, an air tight medical billing process, actionable reporting and broad experience.   For more information contact ClaimCare Medical Billing Services by email at sales@claimcare.net , by phone at (877) 440-3044 or visit the ClaimCare Medical Billing Company website.  ###

    ClaimCare’s Patient Collection Tool Maximizes Patient Collections

    Posted by Carl Mays on Thu, Jul 23, 2009 @ 08:45 PM

    Tags: improving medical billing, patient collections

    Patient CollectionsA recent survey of 1,279 physician practices, medical billers and billing offices released June 15, 2009 by NaviNet Inc., found that 49% were unable to estimate the amount due at the time of care, other than predetermined co-pay.  As a result according to McKinsey & Co. doctors collect only about half of the balance due from patients and that this translates to $14 billion to $30 billion in bad debt annually.

    Collecting at the time of care is growing in importance as even insured patients are increasingly on the hook for an ever-larger share of costs. In 2008 the average patient deductible grew by approximately 10 percent. In 2009 the deductibles grew by 15 percent. This is a trend that physicians cannot ignore. They need a way to economically and reliable collect the money patients owe.

    The good news is that such a tool is available.  ClaimCare provides its clients with a patient collection tool that can attack the root of the problem - not knowing before the patient leaves the office how much the patients will owe for the service provided.  In addition, this tool provides enhanced payment options to collect the money owed.

    Our clients indicated that in many cases it has doubled or tripled their front desk collections. This patient collection tool can:

    1. Confirm the patient's eligibility coverage and benefits, including YTD out of pocket status before the patient is seen; 
    2. Provide accurate estimates of patient out-of-pocket expenses for specific services (your selected CPTs) against a provider's contracted rates for the particular plan;
    3. Generate a detailed, patient-friendly statement on the spot that shows the amount the patient will owe once the claim adjudicates; and
    4. Set up automated payment plan for patients that cannot afford the full amount due.

    This means that your office can know how much a patient should pay before they ever leave the office and collect the money when the value you have provided is fresh in the patient's mind.

    For the average practice, 20 percent of the money they are owed is due from patients. If you are currently leaving 50 percent uncollected (like most practices) then a tool like this can increase your practice's revenue by 10 percent.

    About ClaimCare Inc

    ClaimCare Medical Billing Services stands out from the crowd of medical billing companies. ClaimCare offers a complete medical billing solution, has the only service level guarantee in the industry, offers best-of-breed technology, an air tight medical billing process, actionable reporting and broad experience.   For more information contact ClaimCare Medical Billing Services by email at sales@claimcare.net , by phone at (877) 440-3044 or visit the ClaimCare Medical Billing Company website.  ###

    MGMA Survey: Medical Billing Companies Produce Strong Results

    Posted by Carl Mays on Fri, Jun 12, 2009 @ 08:11 PM

    Tags: medical billing companies, medical billing services, improving medical billing

    medical billing companiesA recent Medical Group Management Association survey showed that medical practices utilizing medical billing companies typical see improved performance across multiple dimensions. The survey focused on practices that used medical billing companies instead of in-house billing solutions. The survey found that for practices switching from in-house billing to a medical billing company:

    • 73 percent saw a reduction in their AR;
    • 73 percent realized higher collections;
    • 59 percent decreased the volume of lost/denied claims;
    • 59 percent enjoyed significantly better reporting and practice performance insights; and
    • 46 percent achieved higher staff productivity.

    The breadth of the performance improvements uncovered by the MGMA survey (with three quarters of all practices seeing significant performance improvements) adds fact-based credibility to the notion that a well selected and qualified medical billing company provides significant performance improvement for medical practices. The results of the survey were no surprise to ClaimCare. Our average clients enjoys a 15 to 25 percent increase in collections and see their days in AR drop below 35.

    A copy of the survey is available from the MGMA's website.

    About ClaimCare Inc

    ClaimCare Medical Billing Services stands out from the crowd of medical billing companies. ClaimCare offers a complete medical billing solution, has the only service level guarantee in the industry, offers best-of-breed technology, an air tight medical billing process, actionable reporting and broad experience.   For more information contact ClaimCare Medical Billing Services by email at sales@claimcare.net , by phone at (877) 440-3044 or visit the ClaimCare Medical Billing Company website.  ###

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