As the New Year dawns, it's time to reflect and recalibrate. In the dynamic world of Emergency Medical Services (EMS), 2023 presented us with unique challenges and learning experiences. Particularly, four issues stood out that require our undivided attention as we step into 2024.
The Quest for 'Found Money' in EMS
The concept of 'Found Money' is pivotal in EMS. It's money that's rightfully yours but often goes unnoticed or unclaimed. Think about it: Are you confident that your service is capturing every possible dollar? What if you could boost your revenue by 5% this year?
Four Key Challenges Faced in 2023
Insurance Follow-up Rigor: Dealing with insurance claims is not just about billing; it's warfare. With a staggering 52-70% of claims over 90 days being written off, the financial impact is considerable. The intricate dance of managing confusing and arbitrary denials adds to the complexity.
Underpayments: A prevalent but often overlooked issue in EMS. The flawed system of rate setting by insurance companies, coupled with limitations in billing tools, has led to significant underpayments, a challenge further exacerbated by legal constraints and policy exclusions.
Facility Follow-up: This is a delicate balancing act. It's about maintaining healthy referral relationships while ensuring that payments are received in a timely manner. The challenge lies in navigating high turnover, lack of accountability, and complex tracking systems.
Benchmarking for Better Performance: Knowing your performance metrics is just the start. The real power lies in understanding how you rank in the industry and what you can achieve with the right insights and actions.
RVNU EMS: Your Partner in Revenue Optimization
This is where RVNU EMS steps in. With a decade of experience in revenue cycle and financial operations in the EMS space, we understand the nuances and complexities of this industry. We're not just about underpayment services; we're about offering a partnership that helps you benchmark your billing performance against industry standards.
Why Choose RVNU EMS?
Expertise in Insurance Follow-up: We provide the expertise needed to combat the challenges of insurance follow-ups, ensuring every claim is actioned.
Strategies to Combat Underpayments: Our approach to underpayments isn't just about identifying them; it's about deploying effective strategies, including pre-legal and legal solutions, to ensure you're paid what you deserve.
Facility Follow-up Excellence: We know the art of being persistent yet respectful in collections, ensuring your relationships with facilities remain strong while your finances flourish.
Benchmarking Brilliance: With RVNU EMS, you get more than a service; you get a partner who helps you understand where you stand and how to achieve your financial goals.
Looking Ahead: Embrace the Opportunities
As we bid farewell to 2023 and welcome 2024, it's time to focus on turning challenges into opportunities. Working with RVNU EMS means embracing a partner who understands your needs, challenges, and the intricate dynamics of EMS billing and collections.
Your Invitation
We invite you to reach out to us. Let's explore how we can work together to uncover the 'Found Money' in your operations and set a new benchmark for your EMS billing performance.
In Conclusion
Remember, the journey to financial optimization in EMS is continuous. With RVNU EMS, you're not just getting a service provider; you're gaining a partner committed to your growth and success. As we step into a new year, let's turn challenges into opportunities and revenue into reality.
RVNU EMS: The end of underpayments
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