Author: EM Squared

Writing off bad debt doesn’t have to be your final answer.

Today, more medical claims are denied than ever before with nearly an 80% increase in the last few years. Hospitals and health systems face the decision to write-off tens of millions in bad debt every year, potentially leaving behind millions in recoverable cash. Health insurance claims that are too small, too old – or both – are left on the table, leaving accounts receivable teams to focus only on what seems the most likely to be recovered.

Chasing even a 90-day old account can seem like a big strain on resources with too little potential payback. And pursuing highly-aged accounts can typically be a very low priority. Having a robust accounts receivable strategy can help your hospital collect claims deemed “uncollectable.” The results – increased cash flow and decreased bad debt reserves caused by aging accounts.

How can you recover the cash that you thought was too old to catch? How can you collect every insurance dollar owed to you…whether it’s 100, 200 or even 300 days old? Download our whitepaper on highly-aged claim recovery and learn how writing off health insurance bad debt doesn’t have to be your final answer.

Isolating legacy AR can provide the safest path to EHR conversion success.

Many health systems have seen EHR conversions turn into catastrophes that end up costing millions of dollars. Operating losses, bond downgrades, and cash flow interruptions don’t have to be the “cost” of a new EHR system.

Our whitepaper discusses how to minimize the disruption of an EHR conversion while maximizing AR collections. Learn how to develop a roadmap for a successful conversion by:

• Allowing your staff to focus on the new system to ensure successful implementation
• Leveraging our experience with successful implementations to minimize risk and avoid common pitfalls

Download our whitepaper to learn how to keep your legacy AR powered up while your old system powers down.

How can we help?

ParaRev is a leader in accounts receivable recovery and resolution. The company works as a virtual extension of your hospital’s central billing office to help resolve and collect more of your insurance accounts receivables faster while improving operating margins through a seamless partnership with your internal team.

Resolve Your Denial Dilemma and Accelerate Your Cashflow

Sometimes an age-old problem needs a revolutionary approach. At HFRI, we’ve developed a 6-step solution to AR recovery – combining intelligent automation, robotic processes and good old human ingenuity to help health systems accelerate cash flow and claim more of their denied, delayed and written-off claims than ever before. Each step optimizes the challenging AR recovery process and gets you on the road faster to a lower AR balance with increased cash flow.

Download our whitepaper “6 Steps for Deploying Intelligent Automation Solutions in Denial Management” to learn how intelligent automation can improve your AR processes for accelerated and increased cash flow.

How can we help?

ParaRev is a leader in accounts receivable recovery and resolution. The company works as a virtual extension of your hospital’s central billing office to help resolve and collect more of your insurance accounts receivables faster while improving operating margins through a seamless partnership with your internal team.

Get to the root of your AR challenges.

With denials at an all-time high, many hospital systems are desperate to stem the tide. Combining lost revenue with the administrative costs of recovery and rework leaves almost every hospital wondering how to get to the bottom of the problem.

What has helped hospitals across the country is a valuable partnership. Having a trusted partner that can work every claim, no matter the age or size, every day can mean the difference between ballooning denials and an accounts receivable (AR) ledger that’s manageable.

ParaRev, an industry leading AR follow-up, recovery and resolution management firm, has helped hospital systems around the country manage denials and address their aging receivables.

We can help you

With ParaRev as an extension of your back office, you can count on our expertise and knowledge to improve cash flow, lower administrative costs and reduce write-offs. Download our whitepaper analyzing the root causes of delays and denials and learn 7 key strategies for improving your AR today.