AmerAssist’s Insurance Resolution Program
The most valuable asset on most healthcare balance sheets is the accounts receivable portfolio. The core business of AmerAssist’s Healthcare Division is the management of non-performing patient accounts. However, often it is the 3rd party payer receivables that have the biggest impact on slow cash flow.
Simply put, this program is designed to expedite the reimbursement of slow pay claims from your commercial insurance companies.
AmerAssist’s Insurance Resolution Program (IRP) is designed to expedite the reimbursement of slow pay insurance claims to hospitals, clinics, surgery centers and medical practices from insurance companies. This easy-to-use Revenue Cycle Management tool is cost-efficient (averaging less than 7 cents per dollar recovered), allowing this service to be utilized on claims as early as 30 to 45 days past due so funds previously spent on in-house efforts can be redirected to improve the bottom line. AmerAssist standardizes the accounts receivable management process on delayed claims. Our sophisticated third party demands process doesn’t just re-file claims, it prioritizes them, resulting in faster and more accurate claims resolutions.
The first contact is a diplomatic request for a prompt resolution, followed by 4 additional, progressively stronger, resolution demands. These demands are personalized by state with reference to the applicable statutes of the Unfair Claims Settlement Practices Act (UCSPA) to assure a prompt, fair and equitable claim settlement.
AmerAssist’s proven third-party insurance claim specific process delivers:
- Our sophisticated third party demands process doesn’t just re-file claims; it prioritizes them, resulting in faster and more accurate claims resolutions.
- Submitted insurance carriers will call your staff, effectively reversing the line of communication and eliminating expensive staff hold time.
- This diplomatic program expedites a resolution for claims delayed due to incorrect information, missing codes or signature, money applied to a deductible, insurance checks released to patients, claims never received and claims held in review.
- Insurance carrier by-laws and internal policies typically require an immediate response to our licensed 3rd party contacts within 30 days and move the responsibility for a claim from a clerk to a supervisor or manager, where claims are settled more quickly.
Our Insurance Resolution Program will resolve 70% to 90% of claims submitted through us within 45 days. As a result, Clients will experience:
- Faster claims resolutions
- Reduced workload
- Improved cash flow
Reducing the response time reduces the age of the overall receivables portfolio.
Claims you can submit for AmerAssist’s 3rd party demands include Commercial Insurance, Managed Care Plans, HMOs, PPOs and POSs.
This online system is a paperless solution that is cost-efficient and effective. Whether you seek an improved DRO or a reduction in FTE expenses, this program will accomplish your objectives and satisfy the need for profit improvement.