Why has CareMedic invested in developing a solution targeted solely to secondary claims – a source of revenue that most providers rank as a lower priority and will typically write-off a good portion?
SS. The economies of scale have not been there for providers to pursue the high volume and low numbers associated with secondary claims. We foresee a time, however, when providers can no longer afford the luxury of ignoring secondary claims. Secondary insurance is most prevalent with Medicare beneficiaries. Aging baby boomers on Medicare will start entering into hospitals’ revenue streams in the next few years. At the same time Medicare reimbursements are shrinking. Those two factors will make hospitals more vulnerable to secondary payers’ denial and underpayment strategies. Hospitals have underinvested in revenue cycle solutions and are not prepared – both in budgets and staffing – to recoup secondary claims effectively. They will need to look for overarching technology and service solutions that can supplement their legacy systems and staff. What we’re offering is a combined services and technology outsourcing solution requiring no upfront or overhead costs that can help to realize m
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