OUR MEDICAL BILLING SERVICES WILL IMPROVE YOUR CASH FLOW! Because no two medical practices are alike, our service offerings are tailored to meet our clients’ specific business requirements.
Beyond the realm of technology and electronic billing, one of the most significant contribution to our clients is in dealing with insurance carriers. Our efforts include appealing claims improperly adjudicated, and consistent follow-up. Said another way, we fight the nasty battles with insurance carriers on behalf of our clients. These services are part of our full-service plan and constitute no additional cost to clients. Please visit the FAQ page for more details on our services.
- Up to 24 cents out of every dollar (or in excess of $6 billion annually) are wasted on administrative and billing cost.
- The average doctor has more than $150,000 in outstanding accounts receivables.
- Coding errors cost doctors over $6 billion annually.
- Only 70% of all insurance claims initially submitted on paper are ever paid by insurance carriers.
- Six billion insurance claims are filed each year or around 500 million claims per month.
- Insurance carriers spend in excess of $19 billion annually processing paper claims.
- Less than 1% of electronic claims are rejected.
- Most electronic claims are processed for payment by carriers within 24 hours.
- Electronic claims are paid within 7-21 days.
- Healthcare providers spend more than $7 billion annually just submitting claims to carriers.
- According to the New England Journal of Medicine, the U.S. Healthcare System wastes up to 24 cents out of every dollar on administrative and billing costs, or in excess of $6 billion annually.
- 30 to 35% of all paper claims are rejected due to typo’s, errors and omissions.