Medical Account Receivables Solutions
A significant asset of all healthcare providers is their medical account receivables. Outsourcing medical account receivables solutions is a favorable option, as you can have a streamlined system of control to accurately manage your accounts receivables and recovery. Accounts receivables includes the management of many reports dealing with insurance, collection analysis, write offs, bad debt reviews and ratio analysis. It includes the analysis of insurance contracts to ensure that healthcare providers are being reimbursed correctly. Outstanding claims and delayed collections often place added administrative strain on healthcare organizations. More often than not, insurance companies often deny claims or refuse to pay. Additionally, federal regulations have become increasingly more stringent. This increases the pressure on healthcare organizations to follow up on denied or appealed claims. The main reasons for claims denials are incorrect/incomplete data entry and incorrect medical coding.
Medcare Solutions has a comprehensive medical accounts receivables solutions and financial management solutions for clients, designed specifically to address the problems that undermine the effectiveness and efficiency of revenue cycle management. Our medical account receivables solutions services helps clients turn their medical accounts receivables into positive cash. Designed around proven industry best practices, we can help you free up your time & get cash to assist in the growth of your practice.
We realizes that a successful healthcare practice depends as much upon effective financial management as it does on quality care. For this reason, an increasing number of healthcare providers are looking for finance companies that can help them handle their cash flow requirements with a medical accounts receivables solutions. Medcare Solutions can facilitate financial funding of medical account receivables and has a well seasoned staff that was created specifically to handle this unique financial niche.
The long delay between the time you perform a medical service and the time you are ultimately paid, coupled with a bureaucratic and very cumbersome third-party billing structure has resulted in diminishing your business cash flow. We provide capital to a nationwide network of healthcare providers including, but not limited to sole practice physicians, group practice physicians, nursing homes, hospitals, home healthcare companies, rehabilitation -physical therapy companies, durable medical equipment providers, MRI, radiology centers, ambulance service providers and laboratories. While many industries are very familiar with the use of accounts receivable financing or medical account receivables solutions to improve the consistency of their cash flow and increase their bottom line, the overwhelming majority of health care providers have never heard about this service, and do not realize what accounts receivable financing can do for them.