Financial Resource Group Announces Two Cash Acceleration Services
Posted on: Tuesday, 24 June 2008, 09:03 CDT
Financial Resource Group (FRG), a leading Dallas-based healthcare consulting company, is pleased to announce two new services known as "Clean Claims" and "Prompt Pay." These services allow hospitals and physician groups to recover underpaid claims when these claims were not paid promptly or properly by Third Party Administrators (TPAs) and insurance companies. FRG analyzes patient discharge and billing data for the last four years to identify amounts that were not paid on time or were paid with inappropriate discounts. FRG then works with its strategic partners to pursue collection of these amounts. These accounts can represent millions of dollars in lost revenue for the hospital or healthcare system.
"We step in and make sure that our clients are able to receive the money they deserve," said Ted Shaw, FRG partner.
The Prompt Pay service stems from the terms of existing contracts between healthcare providers and Insurance companies as well as Texas law mandating the timely payment of claims. The Clean Claims service seeks to recover amounts not paid timely by TPAs. Both services are offered at no out of pocket costs to providers.
FRG works closely with two legal firms with expertise in this area - Burford & Ryburn, L.L.P. (Dallas, Texas) for the Prompt Pay claims and Broome Bobo LLP (Irving, Texas) for the Clean Claims accounts. If a settlement cannot be reached between the parties, then the law firms will assist in filing suit or pursuing an arbitrated settlement.
"FRG along with either Burford & Ryburn or Broome Bobo, work together to collect these outstanding claims for our clients," said Ted Shaw. "The hospitals and healthcare systems we work with can be rewarded with a great financial outcome for very little or no investment up front."
Broome Bobo partners are joining FRG at their booth, Number 1666, at ANI.
About Financial Resource Group, LLC
Financial Resource Group is a Dallas-based healthcare consulting company dedicated to putting the client in control of its financial future by providing services that meet the client's needs. They assist clients in developing sustainable performance improvements that increase the client's opportunities for financial success. For additional information about FRG, please visit their website at www.frgroup.net.
Source: Business Wire
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