I am working with a small company that is considering entering a line of business that involves insurance and/or Medicare/Medicaid reimbursement. We know that there are many pitfalls of the reimbursement systems and I'm wondering if anyone has detailed information (good or bad) on their own experience with:
- slow cash flow due to reimbursement cycle (what are you averaging?)
- Broker type repricing houses, for 10%~30% fee they'll do collections on your behalf (Do they really pay in 30 days? Is the appeals process a bear for charges kicked out of insurance system?)
- Preferred Payer programs, giving up at least 10% retail price. How fast (Slow??) do they actually pay?
- ***Medicare / Medicaid - deep discounts because Medicare "just won't pay" -- I've heard a rumor that accepting Medicare reimbursement with deep discounts preempts you from being able to use supplemental or other insurance methods? Has anyone experienced this? Also, does the deep discounting affect your pricing for non-Medicare transactions?? (*** This one greatly concerns me.)
Any information is greatly appreciated!
Best, Andria