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Medical receivables are the amounts owed by third-party payers to healthcare providers. The party owing the money can be commercial insurance companies, HMOs, Medicare and Medicaid, or patients (if there is an outstanding balance after insurance or another payer has paid its portion).
Medical receivables are usually payable 60 to 120 days after service is rendered, though some reimbursements lag further behind, creating cash flow issues for healthcare providers, who typically need to pay expenses in a shorter time frame.
The Columbia Ultimate family of companies, industry leaders in providing clients with revenue maximization solutions for more than 30 years, recently announced a new corporate structure. Each of Columbia Ultimate’s five companies, RevQ, The Intelitech Group, HealthWare, Columbia Ultimate 1st Party and Columbia Ultimate 3rd Party, are now organized into designated strategic entrepreneurial units (SEU).
Value Healthcare Services announces CEO Ezra Zucker will be a featured speaker at the summer meeting of Keystone AAHAM. The event will be held on July 18 at the Penn National Conference Center in Grantville, Pennsylvania. Keystone is one of the 32 local chapters of AAHAM, American Association of Healthcare Administrative Management.
The New York Times ran a feature-length piece Friday on how a prominent credit scoring service is treating collection accounts. The new scoring formula benefits consumers, but it could also present ARM companies with an opportunity and another tool to use in their collection efforts.
It may not be brain surgery, but U.S. businesses, especially in the accounts receivable management industry, can learn a lot of healthy social media habits by emulating hospitals’ use of common social media platforms like Facebook and Twitter.
Can a Medicare beneficiary’s debt be considered uncollectible if it has been referred to a collection agency? George Washington University Hospital says, “Yes, that debt should be considered uncollectible” — probably because if it were collectible, the hospital wouldn’t be sending that debt to a collection agency. So they took their “Yes” to court.
It’s no secret that in recent years, accounts receivable management has changed dramatically for healthcare providers. Payment used to be as simple as submitting a claim to an insurance company and following up to verify the remittance date. But a number of outside forces have made life, ahem, complicated for providers these days. More than [...]
A federal judge in Florida Tuesday granted class certification to a case brought by a consumer against a medical debt collection agency over a message left in the plaintiff’s voicemail. The consumer is seeking damages under the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA).
The case also names the original creditor, a hospital in this case, citing vicarious liability under the TCPA.
Medical Recovery Specialists, LLC (MRS), part of the Receivables Management Partners (RMP) family of companies and a leading provider of accounts receivable management and other outsourced revenue cycle management (RCM) services to the healthcare industry is pleased to announce that Mike Gerlach has joined MRS as General Manager
Insurance reimbursements are down, affecting gross days revenue outstanding — and, more importantly, your healthcare organization’s bottom line. In order to effectively manage receivables, it’s what happens after the claim that matters most. In this webinar, presented by Ontario Systems and insidePatientFinance.com, you’ll learn techniques that will help you reduce gross days revenue outstanding and [...]
HBCS, a leading provider of billing and collection services for healthcare organizations, has appointed Eric Reyes as Vice President of Insurance Operations.