Medical and hospital bills often contain errors: data entry mistakes, a procedure that is incorrectly coded, claims that are wrongly priced, or services that are inappropriately unbundled. The MedPic team analyzes and uncovers billing errors by utilizing a proprietary software system that examines all variables of the claim, not just the billing code.
After MedPic reviews a claim and determines that there is a savings opportunity, a MedPic negotiator will contact the providers to negotiate the cost adjustments. MedPic utilizes numerous sources for market-price information which empowers the negotiation process. In addition to negotiating reduced fees for services already provided, MedPic can obtain savings for services that will be provided in the future, such as dialysis or chemotherapy treatments. MedPic is usually able to negotiate a significantly reduced per diem or per treatment rates for the entire course of the patient’s treatment regimen.
Once the negotiation has been finalized, the revised payment information is put into a signed contract between MedPic and the healthcare provider(s). The negotiated settlement is documented in a re-pricing statement sent to our clients.
MedPic often completes the negotiation process in three business days from claim submission. We manage the entire claim negotiation process for you and have a 90% success rate in claim negotiations. When you work with MedPic, you never have to worry about claim reconsiderations. If there is a problem, we will fix it.
Submitting claims to MedPic is easy and secure. You can forward your claims by fax, secured email, FTP site, or EDI.