This retrospective audit is an analysis of all closed managed care claims for Medical Center; and it is the core service that Health Check Incorporated (HCI) provides to its clients. The table below represents results from the 2nd quarter of FY09, the FYTD (10/01/08 through 03/31/09), and the historical performance of HCI for Medical Center.
During the 2nd quarter auditing work for Medical Center, HCI identified $584,202 in underpayments, recovered $177,204 in underpayments, and continues to pursue $985,302 in additional revenue.
HCI has collected more underpayment dollars during the 2nd quarter for Medical Center than any other comparable period during our contract. This significant increase can be mostly attributed to the receipt of three additional logins and the cooperation of Medical Center.
Collections during the 2nd quarter totaled $177,204. This is a $177,204 increase over the previous quarter FY09.
The average collection amount by HCI for Medical Center during the 2nd quarter was $8,438. Of the collected dollars during this quarter, 71% of the accounts were collected in full or by 98% or greater.
HCI collected the most dollars during the 2nd quarter from Insurance Company A on two accounts for a total of $41,669. Both accounts that were collected from Insurance Company A were identified at the beginning of February and collected at an average of 28 days. The leading collected underpayment reason during the 2nd quarter was for accounts underpaid due to not paying the Base Rate X Weight; and that total collected was $53,959. The collected dollars during the 2nd quarter for from the 8th most collected underpayment reason to the 3rd for HCI historically.
The chart below shows the Top 5 Collection Payors at Medical Center for the first two quarters of FY09.
The chart below shows the Top 5 Collected Underpayment Reasons at Medical Center for the two quarters of FY09.
