The Centers for Medicare & Medicaid Services’ Bundled Payments for Care Improvement Advanced (BPCIA) model incentivizes healthcare providers who invest in practice innovation and care redesign to better coordinate care. These measures help to reduce variations in care delivery, while improving the quality of care and lower the cost of care for Medicare beneficiaries – achieving the triple aim – Better Care, Better Outcomes and Lower Costs. It’s a patient centric and concierge model around care redesign and value-based care.
According to Matt Johnson, general manager of Century Ambulance Service, Inc., the company’s business in Florida for the past 20 years has been “pretty much the same – picking up patients and moving them to a new location.” Then came COVID-19, and Johnson admitted, “That kind of created a pause in what we did, and we had to re-evaluate all of our practices.”
By Daniel Casciato
With rising inflation and a shortage of cash, healthcare providers are looking for means of improving cashflow. The obvious but often missed monies are sitting on their books in accounts receivables—monies that health plans and payors have not paid, but the providers are entitled to.
“Healthcare providers are not collection agencies. The health plans and similar payors take advantage of this,” says Ben Assad Mirza, founder of Mirza HealthCare Law Partners. “They either negligently or intentionally do not pay. The economics of selfishness behind health plan’s inaction are in plain view. The COVID-19 virus has led to a ‘Receivables 2020 Virus’ and further exacerbated an already tight financial situation for most providers.”
Finance and revenue cycle management departments are not setup to persistently and consistently pursue claims against payors till their equitable and final determination.
“We work with the finance and revenue cycle management department to help bring in those receivables,” adds Mirza.
Healthcare payors often short providers’ billing based on contractual issues, improper reimbursements standards set by the payors, including failure to pay for services rendered, improper rates, improper deductions, slow payment processing, or an outright failure to respond to the request for payments made by providers. In this era of healthcare, this is a growing and complex problem. The economic motives are plain to see, and most providers feel their arms are tied.
According to Mirza, he has a rare and intense skill set to pursue the monies owed to providers. He is not only a healthcare attorney but has also been a business litigator for more than 15 years out of his 20 year law career. He was formerly a Certified Public Accountant (CPA) and a Certified Healthcare Compliance (CHC) officer. With a Masters of Public Health Administration from Yale, Mirza says that he is, by far, one of the most provider centric-population health advocates in healthcare.
Mirza Healthcare Law Partners supports healthcare providers by helping them recover the cash that is sitting on their books and accounts receivables. The firm charges fees as a percentage of recovery, and only if the provider gets paid. Clients have nothing to lose, only to gain what they are rightfully owed.
The ability for a healthcare organization to maximize its collections and profitability is vital for its survival. Having an efficient Accounts Receivables process in place is integral to the financial health of a medical practice or healthcare organization.
For more information, visit www.MirzaHealthLaw.com.
PRESENTED BY HEALTHCARE LAW PARTNERS, LLC
