MGMA and other industry studies conclude the following:
- Accounts Receivable Days are increasing (52 day average) leading to cash flow concerns for Medical Practices
- Bad Debt and write-offs are becoming increasingly frequent and can represent 5% or more of billings
- 90% of denials are preventable while 67% are recoverable
- Missed Revenue Opportunities continue to be a large problem for practices
- Skyrocketing claim costs with over24% of medical practice and revenue uncollected
Xponent MD (XMD) offers results oriented solutions for today’s Medical Practice that include:
- Zero defects approach to claims handling that substantially decreases denials while reducing A/R days to less than 20 in most cases.
- Connection to eligibility systems to dramatically reduce bad debts and write-offs
- Clean and complete claims virtually eliminate the need for claims re-submission
- No more lost transactions, duplicate batches and mundane redundancies in your claims management operations
- Optimized turnaround time in cash payment receipts (especially when combined with our electronic funds transfer offering)
- Improves cash predictability, claims-on-hand and payment cycle days with the most innovative workflow management system
- Reduces operating costs and improves scalability with lower per claim filing costs
- Rapid deployment in just 9 days
Xponent MD has partnered with industry leader GHN-Online to revolutionize your billing process.