“FIRM RCM simplifies the billing and follow-up on our Workers Compensation claims. Workers compensation is one of our most labor intensive financial classes and our staff have been redirected to higher ROI functions since we hired FIRM RCM”
Privatization of the Workers Compensation industry, caused an influx of insurance carriers, in response to employers searching for new and cheaper coverage. This resulted in significant confusion about which payers are responsible for paying which claims. Patients are not provided with identification cards and do not know who their carrier should be. Worse yet, neither do a majority of the employers. Without this information, admissions staff is unable to input the correct insurance information, or bill the proper carrier.
To accelerate payment of workers compensation claims, facilities can assign accounts at the time of admission, or as soon as practical, so that FIRM RCM’s staff may initiate the process of obtaining the authorization and maximizing payments. All claims will be verified, claim numbers obtained, and adjustors identified before the claim is billed.
If your front end is functioning at a high level and you would prefer more of a safety-net program, FIRM RCM offers 30, 60, and 90 day follow-up programs to ensure timely follow-up and accelerated cash collections. All payments are verified against applicable contracts and fee schedules to ensure correct payment. Any denials or short payments are appealed for additional reimbursement.