Another day in the healthcare world. Medical providers are in a type of panic on getting paid less than their cost of doing business. In our world, there is no other type of business that expects their business owners to work for less than their costs.
Patients are concerned when they receive their explanation of payment in the mail and see their doctor was paid so little from their actual charges. And the kicker is that these doctors have to fight to get in network status in most cases, fight for a fee increase, and get paid a third of their fees and have to write off the rest.
When contracts are submitted to insurance carriers for doctors to participate in their network so many times it takes 6 months for carriers to approve or disapprove. and then when claims are filed, it takes up to 60 days for the medical providers to get paid. In what other business, does the business owner have to wait so long to be paid a third less of what they charge? Doesn’t seem right. So what will healthcare reform do for this situation? We will all have to wait and see.
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About Michele: Michele Graham is the CEO of Professional Healthcare Management, a leading provider of medical business management services. Professional Healthcare Management started in 2003 and offers services to all medical professionals for credentialing and insurance contracting. We have performed services for over 3000 providers and multiple hospitals, surgical centers and wound care centers. Our fees are competitive and our staff is comprised of experienced professionals with years of experience in the healthcare industry. Michele has over 40 years experience in healthcare and we welcome anyone having issues getting contracted or getting paid. We try and negotiate better reimbursements for each and every provider....call for more information! |
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