Prompt payment compliance is a critical component in the reliability of America’s healthcare delivery system, and your ability to practice medicine is the direct result of cash flow.
America’s system of prompt payment laws exist to protect your cash flow. These protections regulate payment patterns and practices, but they also include deterrents such as interest penalties for late payment.
The timeframe for reimbursement on your claim has elapsed and the payor has not remitted payment, it is important to collect interest not only to protect your cash flow, but also to enforce prompt payment compliance and the integrity of the healthcare industry.
RevAssurance Online includes Interest Calculators to assist you in this process.
If your claim falls under VA or Medicare Advantage jurisdictions, click HERE to calculate the interest owed on your late claim.
For all other jurisdictions, become a member today!