IS YOUR BILLING CRITICALLY ILL?

According to national statistics, 32% of all medical claims are rejected and half of those are never re-filed. That leaves 16% of all medical claims in the United States unpaid, or money left on the table. While this may or may not be the case with every office, it’s a large number to be walking away from. For example, if as little as 5% of the claims that are rejected are never re-filed, then offices are potentially losing as much as $15,000 or more per physician, per year. Most of the money lost in medical practices is due to the lack of follow-up on denied claims. Upon close examination, most denials are not 100% accurate and can be easily fixed for an approval and subsequent payment.

Is this what is happening in your practice? Don’t let the lack of follow-up on denials cost you money. According to the Medical Group Management Journal, the collection rate for internal billing departments is a dismal 55%, taking an average of 93 days to collect payment. Premiere Medical Billing Services, LLC proudly achieves a 95-98% collection rate with a turnaround time of 30 to 45 days for claims and payments. We provide a hands-on approach with individualized consulting and account management by our skilled professionals who have decades of experience. You can take comfort in knowing your highly responsive account manager, personally. Contact us today to learn how we can improve your billing management and claim collections.