Veteran Access to Private Care Is Increasing
American Veterans have experienced increasing access to private medical care over recent years. However, procuring reimbursement for veteran care has historically been a slow, laborious process for the providers. Combined with declining resources, many healthcare finance professionals have been forced to focus their efforts on collecting revenue from claims that offer a greater ROI. The result has been an increase in VA claims A/R balances and aging for private providers across the country.
Difficult Recovery
Whether TriCare, VA Community Care or traditional VA Medical Center, all Veteran related claims are unique and have specific requirements that must be met to effectively procure reimbursement. Unfortunately, even when those requirements are met, it most often requires persistent, follow-up efforts to reach claim resolution. Without the resources to dedicate to such a typically small percentage of their total patient revenue, Veteran claims begin to have a big impact on a private provider’s overall average days A/R.
More Revenue
Faster Reimbursement
Faster Reimbursement
Due to the difficulties associated with procuring reimbursement for Veteran care, most private healthcare providers recover a low percentage of the potential revenue. At VCP, we implement our Proprietary Process to increase Veteran claim recovery rates, increasing cash collections 50-300%.
Faster Reimbursement
Faster Reimbursement
Faster Reimbursement
As Veteran claims balances have continued to grow, so has the aging of the receivables. It is common for a private provider to have Veteran claims aged two years and greater. VCP helps our clients expedite recovery of both aged and new Veteran claims, helping to reduce average aging of the entire A/R, averaging 20 days to collect from discharge to cash posting.
Reduced Denials
Faster Reimbursement
Reduced Denials
Denied claims remain one of the biggest challenges providers face, leading to delayed reimbursement. With multiple VA programs, each with unique submission requirents, Veteran claims are some of the most problematic. VCP's processes ensure accurate first-time billing, resulting in clean claim rates as high as 99%.