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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.