EOBs and Physician Practices

Boosting Revenue: Fixing Managed Care Contract Issues

When I negotiate managed care contracts on behalf of clients, one part of the process is to take a practice's top 20 CPT codes and then pull the most recent EOBs from that payer showing these codes. An excel spreadsheet is then created showing the payer's allowable for each of the 20 codes and a comparison to current Medicare rates (More on this subject later).

When looking at these EOBs, I still find sometimes (like this week!!) billed charges that are approved 100% for payment by the payer. THIS MEANS THE PRACTICE FEE IS TOO LOW AND THE PRACTICE IS LOSING REVENUE!!! Posters should be instructed that any EOB that comes across their desk where the billed charge is approved for payment in its entirety, that this EOB should immediately be copied and given to the practice administrator for review and a related fee adjustment.

I just wish medical practice's would quick losing money simply as a result of poor internal processes and oversight management.

If you’re tired of leaving money on the table due to poor internal processes and oversight management, let REED TINSLEY, CPA help you ensure that your practice's fees are optimized and that you're maximizing your revenue. Contact us today to review your managed care contracts and start capturing the revenue you're missing out on!