A healthy revenue cycle encompasses effective front-end procedures complimented with back-end due diligence. speroMD ensures medical claims are processed quickly and physicians are accurately compensated for their services with revenue cycle processes geared toward achieving a maximized financial return in the shortest amount of time.
One of the best ways to ensure a healthy revenue cycle is to submit complete, accurate claims the first time around. Our expert claims workers employ procedures to accomplish this goal and boost key performance indicators.
Monitoring open claims and performing follow-ups with insurance companies is critical to collecting all payments due to physicians. With speroMD, time periods are determined for each payer. If we do not hear back from insurance companies we will troubleshoot and collect your payment. We do not have a dollar threshold used for write-offs.
Denied claims threaten the cash flow of any office. speroMD works diligently to eliminate denials, and works fast to turn them to into payments when they occur. Thorough reviews of the original submission are conducted and necessary corrections, if any, are made. We vigorously work the appeals process for denied claims.
Denied claims are more than just refusals to pay a bill – any incorrect contractual reimbursement will be treated by us as a partial denial of payment. speroMD reviews payer payment to ensure they are consistent with the fee schedule and contractual agreement.
Your practice runs smoother when payments are processed and posted in a timely manner. With speroMD you payments will be out of A/R in 20 days and posted by us within 24 hours.
speroMD handles patient statements and patient balance follow-up. The collection processes will be developed with practice leadership. We will provide template letters and financial policies for your consideration, and work with your staff to determine the best approach in collecting balances from your patients. Oftentimes patients do not understand why they have a balance or expect their insurance to pay. We review their benefits with them and explain why part, or all, of the service they received is not covered by their insurance.