How do you help healthcare organizations navigate the biggest challenges in healthcare?
MRA|Revecore provides hospitals with a comprehensive, single-source solution for managing motor vehicle and workers’ compensation accident claims. When handled correctly, these complex claims yield the highest reimbursement rate of any financial class. Considering the revenue challenges hospitals face today, capturing these dollars, and doing so compliantly, is becoming more and more critical. Unfortunately, for most hospital billing offices, managing accident claims is an extremely manual, time-consuming process, and because of the relatively small volume, these claims often do not get the attention they require. That’s where AcciClaim (MRA|Revecore’s accident claims management technology) and our skilled team of attorneys and claims processors come in.
Along with our tenured team, AcciClaim brings much needed automation, near real-time insurance identification, workflow processes and clearinghouse billing to most of the current property and casualty payer market. Our motor vehicle and workers’ compensation service offering eliminates the administrative burden for in-house staff, while quickly resolving every accident claim with maximum reimbursement, compliantly. By streamlining complex billing and follow-up activities with our specialized claims management solution, we can generate an average ROI of 350% for our clients.
What advice would you offer to healthcare leaders when choosing among vendors?
Revenue cycle executives should forge partnerships with vendors that can demonstrate proven results, which will directly impact and improve financial outcomes. Hospital leaders should consider a claims management vendor that offers a robust technology platform. This solution should be able to manage a large volume of claims with relatively short notice, be customizable, offer a seamless provider interface and deliver quick recoveries.
The vendor should also have extensive legal expertise, broad U.S. client coverage and provide comprehensive reporting on lift performance as well as reimbursement summaries across all payers. Providers should expect to see the vendors’ technology prior to commitment and be wary of vendors that overly rely on manual, outdated methodologies that tend to age receivables and leave gaps in insurance discovery. Additionally, providers should expect their vendors to have at least a 95% or better client retention rate and an equally high employee retention rate.
What is some advice you can give providers for a successful implementation of a new product or service?
Ensure the vendor partner has an explicitly defined implementation process to determine project scope, resources and timelines for each phase. The provider needs to be realistic about their commitment to resources and the timeline to keep things on track. Providers should also be open to the vendor’s suggested best practices and rely on its expertise.
- Number of years on the Short List: 7 years
- 100% of clients agree/strongly agree that MRA|Revecore’s Accident Claims Management service meets expectations
- 96% of clients agree/strongly agree they would recommend the MRA|Revecore’s Accident Claims Management service to their colleagues
- 100% of clients agree/strongly agree that the MRA|Revecore’s Accident Claims Management service satisfies a need in the healthcare industry
Medical Reimbursements of America, now MRA|Revecore, has been exclusively focused on improving reimbursements for health systems and hospitals since 1999. Our industry knowledge combined with a best-in-class, technology-driven platform and the most talented team in our industry have enabled us to collect more than $3.5 billion dollars for hospitals across the U.S.
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