A common concern expressed by medical practitioners of all types is the potential disruption that Medical Accounts Receivable (MAR) funding may have on the billing and coding process currently in use by the facility. Medical professionals do not want to interfere with these processes since changes usually cause interruption of payments, possible audits by regulatory bodies and minimally a further delay in receiving payments.
What the medical provider must understand is that MAR funding occurs once the billing process has taken place. It is difficult sometimes for doctors, DME’s, home healthcare providers and even hospital administrators to initially understand the difference the difference between billing / collections, and a MAR financing facility. Since this financial strategy involves the medical claims, it is very often mistaken for a billing and collections service. MAR funding is a means by which the provider’s reimbursement process is accelerated through the sale of the claims already submitted to the carriers, but still await payment. The reality is, that the provider can bill and submit claims to the carriers and be paid within a 48 hour period through MAR funding. No other financing vehicle works as quickly, requires no other collateral aside from A/R (claims) and is virtually limitless in volume as long as valid claims are available for funding.
So, to directly answer the concern “Will MAR Funding Disrupt My Billing Procedures? Absolutely not! MAR funding will accelerate your cash flow, provide an instant cash infusion and allow the medical practitioner to run and efficient and worry free business……..without disrupting the normal administrative activities performed by member of your staff.
What the medical provider must understand is that MAR funding occurs once the billing process has taken place. It is difficult sometimes for doctors, DME’s, home healthcare providers and even hospital administrators to initially understand the difference the difference between billing / collections, and a MAR financing facility. Since this financial strategy involves the medical claims, it is very often mistaken for a billing and collections service. MAR funding is a means by which the provider’s reimbursement process is accelerated through the sale of the claims already submitted to the carriers, but still await payment. The reality is, that the provider can bill and submit claims to the carriers and be paid within a 48 hour period through MAR funding. No other financing vehicle works as quickly, requires no other collateral aside from A/R (claims) and is virtually limitless in volume as long as valid claims are available for funding.
So, to directly answer the concern “Will MAR Funding Disrupt My Billing Procedures? Absolutely not! MAR funding will accelerate your cash flow, provide an instant cash infusion and allow the medical practitioner to run and efficient and worry free business……..without disrupting the normal administrative activities performed by member of your staff.
No comments:
Post a Comment