Insurance A/R Recovery

If you feel the insurance companies should keep your money, don’t read any further. . .

If you are like many offices you have thousands of dollars in Insurance Accounts Receivables (A/R). This issue has become a major headache across the medical community. Most billing companies do not have the skill set, and frankly don’t want to put the effort into collecting aged Insurance A/R because it’s very tedious and time consuming.

We can help minimize your loss.

With bulldog tenacity one of our specialists collected over $1 million for ER Room charges that were previously being written off. All because of her dogged determination to find 5 little words in the Medi-Cal Billing Manual that would get those claims paid. And, this prevented future loss of revenue for the hospital! That is the kind of tenacity we can put to work for you!

Our “WOW Report” has the answers:

  • In 48 hours we invest extensive time and labor to prepare a no-cost, detailed sample analysis explaining why you have thousands of dollars in outstanding insurance A/R. These efforts will validate our expertise to earn your business.
  • Our “WOW Report” shows you where your billing company or staff missed the mark. We provide a specific road map to potentially recover significant amounts of lost revenue.
  • One of your most valuable but frustrating assets is your insurance accounts receivable. We help doctors/clients just like you to potentially recover thousands of dollars in lost A/R.
  • We turn aged accounts into real bottom line assets. We put money in your bank that was not there before and was very likely never going to be.

Our Name:

MedXPrime Revenue Recovery is known as “mr2” as a means to express that 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 Team:

  • Our Managing Partner offers 39 Years of Experience in the very complex world of Revenue Cycle Management and Recovery
    • 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
    • Most companies do not have nearly this level of expertise. She and her team can help get your practice back on sound financial footing

    Humbly… she brings experience that is hard to match!

  • Our Managing Partner recently led her team to recover $200 million on a $360 million A/R project for a national hospital group – Need we say more?
    • Many companies tout their successes but few can deliver on a project of this magnitude with such 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 expertise includes:

  • Experts in all medical specialties as well as Dialysis Centers, Outpatient Rehabilitation Therapy Centers, home health facilities, hospitals, and laboratories
  • Subject Matter Experts in Medicare/Medicaid Revenue Cycle Management, as well as most Commercial insurances
  • Subject Matter Experts in Managed Medicare/Medicaid Revenue Cycle Management
  • Expert in managing commercial appeals, Medicare appeals, ADRs, RAC Audits, MAC redeterminations, ALJ hearings, as well as Medicaid appeals nationwide
  • Highly experienced in specialty A/R collections such as Third-Party Liability, Workers Compensation, and Medicare Secondary Payer claims
  • Experts at analyzing accounts receivable to formulate effective plans of action for A/R clean-up projects
  • Highly experienced with 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 expertise available 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 referrals not obtained, demographic errors on claims, failure to prove medical necessity, missed timely filing deadlines and more.

mr2 has a solid understanding of corrective actions to take regardless of the denial reason given. Our history (collecting $200 million on a $360 million project) and expertise in this area are what set us apart from the competition.
We not only collect on old claims but the information we share tremendously helps our clients in reducing denials in the future.

WOW Report: Initial sample no-cost analysis of your Accounts Receivable

The “Wow Report” is a no-cost detailed sample analysis of aged accounts receivable that causes doctors to say “WOW” continually as we review it with them on our follow-up online presentation. This analysis is delivered to the doctor within 48 hours after we get the green light to prepare the report. The first call to explain the “WOW Report” typically takes 15 minutes. Then during the follow-up online review, we share information that frankly has not been shared with the doctor by their current biller. We often hear multiple “WOWS” during the review from the doctor; hence, we coined the phrase, “WOW Report”.

We’ll tell you exactly why your claims are unpaid and precisely what needs to be done to correct the claims to try to get you paid. This is a very costly investment of our time and resources that we happily provide to you to earn your confidence and trust in our capabilities.

We’ll show you things that your current billing staff or billing company haven’t shared with you. You will learn if your people are doing a good job or, more importantly, you will know if they’re not.

Easy Preparation for the “WOW Report”… We ask for a simple Detailed Aged Accounts Receivable report, along with the claims information either in the form of a Patient Demographic report or copies of the claim forms to give us the necessary claim information. We will also need the Physicians’ Tax ID numbers, NPIs and Medicare PTAN (if you bill Medicare).

U.S. Based Pros . Many companies outsource to companies overseas where much of the work is done by inexperienced personnel. We take pride in being a 100% US based company with all personnel located in America. When you call us, you can feel comfortable knowing you are speaking with a highly skilled representative right here in the USA.