The assumption that this 10-day factory window would be correct for you in order to get the payment means that you will receive payment in about 12 days. In fact, billing industry averages indicate that electronic billing typically generates a cheque in 15 days. By participating in such an agreement, you have therefore accepted a discount of 19% per day (about $60 per day) for this accelerated manipulation. Ouch — it is not mathematics. In conclusion, repricing agreements are not a fraud, but I am reluctant to encourage someone to sign anything. Call us at 877-684-4376 if you have any questions! Second, I think it could almost be considered blackmail. It`s a strong statement, but listen to me. Because these agreements are sent, does it increase the payment period set by state law? No, that is not the case. The receivables must be paid in a timely manner, regardless of this request. However, I have found that if these documents are sent and the doctor does not agree or respond, the claims are not paid on time and do not contain the applicable interest or penalties that the laws prescribe. If the claims are followed, the airlines hide by claiming that they were not paid on time because they did not respond to the proposed agreement. It`s going to get worse. In addition to the bad mathematics illustrated above, the fine print of these agreements generally say that “this is not a guarantee of payment.” In other words, they can delay your claim anyway, despite the fact that you signed the “accelerated” agreement, the medical necessity to take notes, just about everything.
Worse, you accepted the discount, even if the payment is late. These companies offer their services to each insurer or TPA for each claim, but they focus on invoices received by network providers. If a provider files an invoice totalling $1,500 to a company with an average negotiated pricing plan for the same services is $900.00, it is reluctant to pay the full $1,500 or calculate the full amount to the patient`s deductible. You hire the repricer to send a fax to the provider that offers to “settle the claim within ten days” if the provider agrees to accept $900.00 as a full payment for the Service. The agreement is ad hoc and therefore applies to only one claim. I could go on with a dozen other examples of the various scammers who are attacking our business from every angle. The quintessence is: Be very careful. Don`t sign agreements that you don`t really understand.
Beware of networks you`ve never heard of. And we have to be concerned about these proposals, which will only be received by fax. Most legitimate requests from payers, Medicare or any other entity will all be processed by mail, not through a medium such as fax or email, which spammers and other fraudsters frequently access to send 1000 at the touch of a button, at no cost.