Did you know the HMO idea came from the Nixon Administration? The HMO concept came on the scene to address the rising cost of health care services. Dr. Paul Elwood proposed the HMO idea during the 1960s in the “Health Maintenance Strategy.” Today, people are wondering how the new healthcare laws will affect their existing coverage. Furthermore, it is becoming increasingly difficult for doctors and hospitals to deal with revenue recovery. Therefore, it should not be a surprise that doctors and hospitals outsource their revenue recovery needs to payment compliance companies. Finding a revenue recovery company is a process that requires some research online.
Point of Service (POS) plans provide people the option to choose a HMO or a Ppo, every single time they need healthcare services. These plans give people more control over how they can receive the proper care. However, there still is a large number of people who are not paying their medical bills for various reasons. A financial problem is the number one reason why people are struggling with their medical bills. Revenue recovery services basically address this problem, as well as many other issues that will cause difficulties on doctors and hospitals. By hiring a contractor for payment reviews, a doctor or a hospital is able to recover a certain percentage of non payments and late payments as well.
Health insurance plans, such as managed care plans, involve contracting with health care providers and medical facilities. Members receive discounts and reduced costs on medical care. A significant amount of managed health plans come from for profit companies. Even with these programs in place, doctors and hospitals may find it difficult to come up with the proper resources to take care of contract compliance issues, revenue recovery and other financial details involved with managed care plans. Currently there is a debate among proponents and critics on the issue of managed care.
Both proponents and critics are undergoing a long debate on how managed care will impact the quality of health care delivery in the United States. Regardless of these debates, it is increasingly becoming difficult for people to afford healthcare services. While looking for revenue recovery services, be sure to get familiar with what payment compliance companies focus on. For example, revenue recovery companies will focus on commercial payments, contract compliance audits, managed care plans, payment audits and accounts receivable. Doctors already have enough work on their hands to the point they are unable to deal with payment compliance issues or revenue recovery.