The cost of doing business in the medical industry is not cheap, and it rises with each passing year. Yet it is widely known that reimbursement for medical services is on the decline. In view of this fact, how can physicians collect on non-payment from insurance companies?
Here are some of the steps physicians can take in order to collect outstanding payments from health insurance carriers.
Implement a Payment Policy
Physicians should set up a workable payment policy, to help ensure that they receive reimbursements from insurance companies in a timely manner.
When there are instances of nonpayment, physicians should approach the insurance company for reimbursement promptly, and not delay. Payment delays are often an indication that the company is having financial difficulties. Therefore physicians need to take action early and press for reimbursement, in order to ensure that they are among the first to be paid.
Seek Legal Help
Oftentimes physicians wait so long for reimbursement, they end up not getting paid in the long run. As a result, they have to seek the help of an attorney to recover payment (click here).
Many physicians are finding it increasingly difficult to keep their medical practices viable. Therefore, they should take the necessary steps to ensure that they don’t allow money to which they are entitled, slip through their hands. Keeping a keen eye on reimbursement timelines is therefore important.
This is even more crucial in states like California, where health plans that delegate risk to an Independent Practice Association (IPA), are no longer liable to pay those claims.
If you are a physician in need of advice on how to collect on nonpayment from insurance companies, contact us at Nelson Hardiman, LLP, Los Angeles, CA. Please give us a call at 310-203-2800 to schedule an appointment.