Maximizing Revenue from Workers’ Compensation in Pennsylvania
By Sean P. Audley
Hospital administrators are always challenged to find ways to generate revenue from their hospital. Nearly every function in your facility can generate revenue, yet many are leaving money on the table, particularly when you’re dealing with workers’ compensation. Whether you outsource your workers’ compensation accounts to a vendor or handle them in house, it’s highly likely you are missing out on significant revenue from these accounts.
The payment of work-related medical bills is controlled by the Pennsylvania Workers’ Compensation Act and regulations are enacted under its authority. While most claims are not complicated to resolve, some pose roadblocks to payment. These outlier claims are often high dollar accounts and are often contested by employers. They can take months to resolve, tying up valuable staff time. Not understanding the intricacies of the law regulating these claims can result in missed deadlines or lost opportunities for payment.
As a result, your facility may be writing off accounts or settling for a reimbursement amount that is less than what you are entitled to receive. One way you can be more proactive in trying to maximize the revenue from these accounts is to partner with an experienced attorney well versed in workers’ compensation. This will not only increase your recoveries on these cases, but allow your staff to devote their time to less complicated claims, thereby increasing revenue on those as well. [Read more…]