Healthcare systems are slowly recovering from the financial pressures of COVID-19. Though margins are moving in the right direction, they still remain slim.
The Good News
Most hospitals with Medicare claims are missing more than $1 million in revenue that is owed to them and waiting to be retrieved. Though Medicare provides reimbursement for $3.5 billion per year for Medicare bad debts, hospitals typically underreport those debts by 4% – 7% every year. That’s earned cash not hitting the bottom line.
Claiming the Gold
This seems like low-hanging fruit, so why are those critical dollars being missed? Hospitals just don’t have the staff to chase the data, identify unreported detail and then file the amended paperwork to retrieve those dollars.
This is why Meduit has developed the Meduit Government Reimbursement solution. Here’s how it works:
- Our team engages leading-edge analytics technology using data hospitals already have.
- We validate that data and then run proprietary technology to uncover every missed dollar.
- We file the paperwork to get reimbursements to the hospital.
The Meduit Government Reimbursement team has helped over 250 hospitals, and our success rate is 100% in identifying unrealized revenue.