Are you aware that CMS is recommending practices have 3-6 months of liquid assets on hand to remain financially viable financially during ICD-10 conversion? Let Quantum Practice Management, Inc. help offset this remarkably steep funding by reviewing and collecting on your open aging accounts. By taking advantage of our Collections Project services, Quantum Practice Management, Inc., will take your aging accounts and collect on them, freeing your staff to complete their the ICD-10 training.
At some point, ICD-10 deficiencies will may begin to impact your collections and create a losses on your incompletely coded claims. We have the trained staff available to maximize collections and collect on past debts, both health plan and private patient collections.
ICD-10 will impact your office workflow far into the future. Let the experts at Quantum Practice Management, Inc. help that restructuring feel effortless to your staff.
The #1 reason for slow pay or nonpayment for services is lack of maintaining your accounts receivable. Reimbursing vendors require additional information and contractual edits are just two of the many reasons payments can be delayed. Quantum offers our clients 1:1 scheduled A/R reviews with 24/7 access to financial reports. Having that control and knowledge of your practices A/R will empower your practice advancements.
Claim rejections, partial payments, complete denials can slowly bury a practices account receivables. Contractual timely filing for those requests are essential in maintaining a clean AR. Quantum has the trained personnel to recognize and combat all levels of appeal, from basic request for additional information to supporting Administrative Law Judge hearings. Having this skill set to negotiate in favor of our client and appeal for the highest eligible reimbursement sets us apart from our competitors.
If your Accounts Receivable balances over 120 days old is more than 7% of the total open items, contact Quantum Practice Management.