Everyone likes to be paid the money they're owed. Paying bills late, or not paying them at all, has dire consequences. A credit rating can plummet, a home can be lost, or a family can find itself out on the street. But if you're a managed-care payor in the U.S., you can reimburse late for claims with impunity. In some instances, you can elect to simply not pay at all.
Dear Imaging Center Insider,
Everyone likes to be paid the money they're owed. Paying bills late, or not paying them at all, has dire consequences. A credit rating can plummet, a home can be lost, or a family can find itself out on the street. But if you're a managed-care payor in the U.S., you can reimburse late for claims with impunity. In some instances, you can elect to simply not pay at all.
A retrospective study of three months of clean radiology claims to six New Jersey payors came up with some disturbing data. Dr. Lawrence Swayne of Morristown Memorial Hospital in Morristown, NJ, and colleagues crunched the numbers and determined that unpaid claims are fiscally more damaging than delayed claims.
Although this study examined claims reimbursement for approximately 15% of the practicing radiologists in New Jersey, the authors believe that the data can be extrapolated across the U.S. and across medicine as a whole. The total amount pocketed by managed-care payors for unpaid claims at the expense of U.S. physicians is in the billions -- to learn more, click here. As an AuntMinnie.com Imaging Center Insider, you have access to this story days before the rest of our members can access it.
In related news, AuntMinnie.com, the Medical Group Management Association, and the American Society of Radiologic Technologists have partnered to create a survey of freestanding diagnostic imaging centers. The goal is to set a standard for comparison, and help you create targets to improve your imaging center's bottom line.
If you're interested in contributing to this effort, just click here. What's in it for you? All survey participants will get a free copy of the report, which will sell for $465. The deadline for responses is August 30, 2004.
Finally, be sure to stop by our site each day this week, as we'll be featuring the latest news from the 32nd annual meeting of the American Healthcare Radiology Administrators (AHRA) at the Hynes Convention Center in historic Boston.
