ClaimTECH Blog - MVA Claims Resolution & Beyond

Are Hospital Hiring Budgets Wasted on Revenue Cycle Management?

Posted by ClaimTECH on Jun 2, 2017 8:38:58 AM

Hospitals are losing their workers, and they need to start being extra careful about preserving their hiring budget.

A recent 2017 survey from Leaders For Today (LFT) examined the state of employment in the healthcare industry, and found that hospitals have one of the most aggressive turnover rates across industries. That churn isn’t limited to specific departments, either; from C-level administrative staff to front desk registrars, there’s a revolving door to be found.

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Leveraging Digitalization in the Disruption of the MVA Claims Process

Posted by ClaimTECH on Apr 27, 2017 7:44:53 AM

 

The insurance industry is an archaic, multi-billion dollar industry ripe for disruption. There is practically no end to the opportunity to increase efficiency within the industry, and considering insurance is already a wildly-profitable segment of the market, any efficiency injected into the current process can do nothing but improve the customer experience and bottom line profits of the insurers.  Even though some carriers are still conducting aspects of their business, like claims processing, in a traditional context, the operational and customer demand for faster cycle times, lower expenses, and an improved customer experience are driving a variety of automations within the industry as a whole.

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Topics: Automation

Revenue Cycle Solutions: How to Settle Claims and Decrease Litigation

Posted by ClaimTECH on Apr 17, 2017 9:39:26 AM

 


Settling MVA claims often requires unnecessary litigation and involvement of plaintiff attorneys and revenue cycle management companies; ultimately creating a lengthy, expensive, litigious collections process. But why? With the exorbitant amount of cloud-based technology we have at our disposal, why isn’t there a platform for healthcare providers to skip the middlemen and settle claims directly with insurance carriers, saving time and money in the process? The following outlines how a revenue cycle solution can be aimed at doing just that.

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Topics: MVA Claims, Revenue Cycle Solutions

Revenue Cycle Solutions: Who Deserves the Money?

Posted by ClaimTECH on Mar 16, 2017 10:45:20 AM

When looking for fair revenue cycle solutions and dealing with complex MVA claims resolution, oftentimes the two primary questions are:

  • Who deserves the money?
  • Who really gets paid?

Today, we’re going to dive into these two questions and shed some light on who wins and who loses in the current MVA claims process.

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Topics: Revenue Cycle Solutions

7 Insurance Industry Trends to Watch For

Posted by ClaimTECH on Feb 23, 2017 11:37:10 AM

New insurance industry trends will be affecting millions of people as we move deeper into the digital era. From economic and labor tendencies to innovative technology, new insurance industry trends are something to keep an eye on. Here’s 7 trends in the insurance industry to watch for:

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Topics: Insurance Carriers, MVA Claims, Insurance Industry Trends

How to Increase Your Medical Claims Processing Reimbursement Rates

Posted by ClaimTECH on Feb 16, 2017 12:18:17 PM

The current medical claims processing rate rarely allows for healthcare providers to receive 100% reimbursement for their services from the insurance carrier. That means the doctors and hospitals that provide the medical treatments to care for injured motor vehicle patients will never receive their full payment.

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Topics: MVA Claims, Healthcare Providers, Medical Claims, Reimbursement Rates

RCM Technology Collaboration for the Benefit of Healthcare Providers

Posted by ClaimTECH on Feb 9, 2017 11:22:46 AM

We have written a few articles about the broken claims settling system and occasionally we’ve put the blame on the “middlemen.” We’ve found that one solution to the MVA claims process is not to disregard the current industry, it’s to find ways to work Revenue Cycle Management (RCM) technology into the process!

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Topics: RCM Technology, Revenue Cycle Management, Third Party MVA Claims

The Value of Automation in Third Party MVA Claims Management

Posted by ClaimTECH on Jan 12, 2017 5:28:13 PM

Claims automation sounds fast. It sounds worthy of 2017. But it sounds like a fantasy when you think of the current third party MVA claims resolution process.

Today, most third party MVA claims are settled manually. They begin with a motor vehicle accident patient’s information being either typed into a computer or scribbled onto a sheet somewhere. Then Risk Managers in the healthcare industry begin the exhausting process of trying to track down the responsible party, file liens and negotiate reimbursements for their hospital’s medical services.

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Topics: MVA Claims, Relationships, Communications, Automation

Dollars and Sense: Motor Vehicle Accident Medical Claims in a State of Confusion

Posted by ClaimTECH on Jan 9, 2017 11:01:11 AM

Why third party liability MVA medical claims are financially eating hospitals and auto insurance carriers alive.

No one saw it coming...Who could have guessed that third party liability MVA medical claims would become increasingly problematic and woefully expensive for the hospitals that treat accident victims and the national auto insurers that pay for it?

Medical costs are rising significantly, and this is particularly true for hospital trauma centers. MVA medical claims range from $500 to $50,000, even for simple, low impact accidents, a.k.a “fender-benders.”

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Topics: Insurance Carriers, MVA Claims, Healthcare Providers

How to Settle Higher Reimbursements: The Missing Link Is to Leverage Relationships

Posted by ClaimTECH on Dec 22, 2016 9:54:55 AM

In our experience, the claims industry lacks a crucial aspect of business: Relationships. Healthcare providers rarely speak directly with insurance carriers, and when they do, a sense of cooperation seems to be missing. There is simply too much ‘distance’ in between healthcare providers and insurance carriers.

To imagine providers and carriers building a relationship together is a bit farfetched. At the core of the exchange is a negotiation. Both sides try to settle the claim to the benefit of their respective employers, so from the beginning there is a barrier. Plus, due to size of the industry, rarely does the same adjuster work with the same claims representative on more than one claims resolution.
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Topics: MVA Claims, Relationships