Office Address

3524 SILVERSIDE RD STE 35B WILMINGTON, DE 19810

Phone Number

+1-302-244-5093

Email Address

siddharth@meddifi.com

Your Solution to Revenue Cycle Management Challenges

When it comes to managing your revenue cycle, coping with staff churn, and collecting outstanding accounts receivable, are you experiencing difficulties? In order to assist you in overcoming obstacles and obtaining appropriate pay for your services, Meddifi Consulting is committed to providing assistance.Meddifi Consulting is committed to providing great outcomes in the area of augmented reality (AR), ensuring that revenue cycle management is optimized, and streamlining collections procedures for your practice. The challenges you are experiencing with your accounts receivable will be addressed by us, and we will aid you in achieving financial success.

Understanding the Impact of Denied Claims

  • It's quite surprising to learn that an unbelievable $262 billion worth of medical claims are initially denied annually. Approximately 63% of denied claims can be recovered, although the process of reprocessing each claim can incur costs ranging from $31.50 to $118 for your practice.
  • Regrettably, numerous claims encounter issues with incorrect payments, denials, or mysteriously disappearing, necessitating thorough follow-up on accounts receivable to resolve underpaid and unpaid claims.

Addressing Revenue Cycle Challenges

  • Denials: Rejected claims can result in substantial financial risk and require an investment of $15-20 per claim to address appeals, corrections, and resubmissions.
  • Long Delays: A significant portion of your accounts receivable are past due, which is consistently affecting the cash flow of your practice.
  • Missed Deadlines: Not meeting payor guidelines for timely filing may lead to claims being denied and not getting paid.
  • Prioritizing: It can be difficult to prioritize claims based on carriers' guidelines for timely filing, which can result in nonpayment if not done correctly.

Meddifi Consulting Accounts Receivable Services

We address your accounts receivable challenges and frustrations, guaranteeing that you receive payment for the services you have rendered. We offer the following options:

  • Comprehensive Reports on Accounts Receivable: Our custom worklists are designed to help you efficiently manage your team's tasks, boost productivity, and set clear goals on a daily and weekly basis.
  • Training for Payor and AR Follow-Up: Our training program offers valuable insights for billers and collectors to enhance their accounts receivable follow-up skills.
  • Personalized Reports: Our team specializes in crafting reports that are customized to meet your unique requirements. Whether it's by practice, financial class, physician, or payor, we ensure that the reports are tailored to your specific needs.
  • Tracking the Revenue Cycle: Our system monitors the status of accounts, collections progress, and any actions taken for these accounts.

Differentiators and Return on Investment

  • Dedicated Team Our skilled team handles AR follow-up, ensures adequate staffing, performs quality control reviews, and assigns worklists tailored to each collector.
  • Training and Tools: We offer a variety of services to assist you in effectively managing underpayments and denials. Our services include third-party payor inquiry systems, collector training, and the use of effective scripts.
  • Productivity Monitoring: We assess the quantity and quality of collector productivity, evaluate accounts with high risk, and monitor write-offs and approvals.

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