Our unique system for monetizing your old data starts with a one-of-a-kind Business Intelligence software.
Your I.T. staff is a precious resource with limited time. This consideration is why we’ve designed our process to be completely independent of your internal resources. We do the heavy lifting, you get the results. With the simple click of the send button, your files are securely delivered to Plan2Account and our hard work begins, enabling you to collect on your trapped assets.
Our powerful analytics engine was designed using extensive knowledge gained from three decades of experience building actuarial systems, payor systems, and provider networks. It’s uniquely able to sync payor, provider, and contract data going back nearly 30 years and can handle more than 100 million claims.
Don’t just dream of recovering trapped assets – MAKE IT A REALITY WITH PLAN2ACCOUNT.
Our REvolutionary Trapped Asset Recovery Process
We take 5+ years of your past data and re-bill every claim exactly as the payor contracts prescribe. As a result, we’re able to capture and identify every problem, or mis-pay, from the payors.
We import your old data going back 5+ years into our unmatched Business Intelligence software.
Plan2Account thoroughly audits your old claims and bills, and searches for issues with each payment. The process is a 100% readjudication of every single claim that the client had, which can be millions of claims for certain hospital systems.
Our Business Intelligence engine readjudicates every claim, automatically recalculating each bill exactly as the hospital’s contract states it should have been paid.
When an issue with a payment is recognized, we log specifics about that bill, such as what type of bill it was, who the payor was, and other necessary details. Each identified mis-pay is assigned a specific issue code.
We also access the benefit code for each past claim. A benefit code is a standard code in a payor’s system that links a variety of data points (i.e. CPT codes, procedures, etc.) and assigns “like” groupings into specific groups. They’re automatically adjudicated and paid without any human oversight. We examine a readjudication from the actual contract and compare the readjudication to what was actually paid. If there is a difference, we uncover the reason for it.
Our Business Intelligence engine effectively links the issue codes to the benefit codes of the payor, and identifies claims paid incorrectly.
OUR COMPREHENSIVE CONTRACT VALUE ANALYSIS (CVA) REPORTS ARE THE KEY TO SUCCESSFUL RECOVERIES
The net cash collection on the 1st CVA is usually equal to 1.5% – 2.0% of the annualized audited claims amount, which is typically equivalent to a full year of operating margins at a hospital, increasing your bottom line now and into the future!
Your CVA reports typically identifies three different types of claim recoveries:
Normal Miss-Pays or Short-Pays: These are claims that were found to be erroneously written off as “zero-balance claims”. These claims are re-submitted to the payor for recovery and payment.
Projects: When we find a large systemic issue (oftentimes in the millions of dollars), hospitals will often prefer to batch these claims together as one project, which leads to a settlement negotiation with the payor.
Over-Collections: If a hospital expected $1,000 and Plan2Account calculates the hospital should have been paid $1,500, Plan2Account will seek to recover the additional $500. When the same mistake has been made on hundred of bills, the funds owed can multiply into the hundreds of thousands over time!
OUR IRREFUTABLE DATA CONVINCES PAYORS TO QUICKLY SETTLE YOUR OLD CLAIMS.
Want more insight into our breakthrough recovery process?
Have a look at our CEO, Mark Bodnar, talking about the Plan2Account Process!
You have trapped assets. It’s time to Unlock Them.
Schedule a free demo for your Hospital
See how our revolutionary technology can help your healthcare business unlock your trapped assets. Join other hospitals around the country who have recovered over $100 Million dollars in trapped assets with Plan2Account.
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Don't just dream of recovering trapped assets. Make it a reality with Plan2Account. Your information is private and only used to contact you with more information.
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