Princeton, NJ - Expeditive, a leading provider of interim revenue cycle staffing has announced it will assist hospitals accelerate Medicaid cash payments
March 26, 2011 (PRLEAP.COM) Health NewsMarch 26, 2011 - James Yarsinsky, president of the revenue cycle staffing firm, made the announcement this week (March 24, 2011).
The federal stimulus law and a later extension provided states an extra $80 billion in 2009 and 2010 for Medicaid.
This bargain rate declines slightly April 1, 2011 and expires completely July 1, 2011. That means the average state responsibility on a $1,000 Medicaid bill will rise from $280 today to $400 July 1 — a 43% increase.
Mr. Yarsinsky said, "We will be able to provide needed staff to our clients to submit backlog claims to Medicaid before the bargain rate expires".
"Some states are asking hospitals to sumbit claims as quickly as possible before the drop-off dates approach".
Yarsinsky said, "the bonus federal matching rate depends on when the bill is paid, not when the service is provided or when the bill is received. Hospitals should take advantage of this opportunity to be paid for their Medicaid claims on an accelerated basis".
Expeditive provides experienced interim revenue cycle personnel for healthcare facilities nationwide. Its clients are hospitals, provider groups, medical billing offices, healthcare outsourcing firms, collection agencies and revenue cycle consulting groups.