“Many emergency room visits and hospitalizations stemming from personal injury cases involve uninsured patients, which delay timely payment for services.”
Successful revenue cycle management focuses on two things: solving cash flow problems and generating the most amount of net revenue possible. Accounting for a small percentage of most medical facilities’ overall receivables, complex claims related to personal injury cases can add in a layer of complexity to revenue cycle management.
81% of hospitals state they lack the specialized talent to resolve very difficult claims according to Black Book’s 2016 RCM Survey.
Sometimes, these claims are so tricky to navigate that medical practices often give up on collecting on them entirely resulting in lost revenue.