A Remit ATM Case Study #2: A Five-Day Delay between Payroll & Reimbursement from Biggest Payer
A full-service eye care center serving its community for over two decades in Gwinnett County, Georgia, is repeatedly subjected to delayed payments from its biggest payer – a situation altogether too common for not only optometrists but all healthcare providers. While the optometrist is constantly working smarter and more efficient – dutifully doing her examinations, diagnosing, and treating injuries, disorders and diseases of the eyes – payer reimbursement times are just the opposite. The stagnant, inefficient, and benchmarked reimbursement process is completely out of sync with the services rendered back at the eye center here in Georgia!
Twice a month, this eye care center receives reimbursement payments from its biggest insurer. However the payments arrive with a five-day delay, often after the eye-care center’s payroll and rent is due (and services have long since been rendered). To compound matters, this problem is not just an unexpected, one-time, out-of-the-blue problem, but it is a perpetual problem twice a month, year round.
Is there anything more frustrating to a small business owner trying to run a business than having to wait to get paid for services already rendered? A day late and dollar short is one thing…but twenty-four times a year?
Enter Provider Web Capital with its innovative Remit ATM product – an early reimbursement tool that generates cash on outstanding invoices. Our Remit ATM patent-pending technology allows our client to get the cash her eye care center needs on the very same day that she submits his invoices for payment from the insurer– not five days later.
Remit ATM, for just a small convenience fee, helps to level the playing field between optometrist clients like ours in Georgia and the outdated reimbursement standards of insurance claim payers. These private payers merely mirror the lengthy processes of the federally administered health care programs. With easy access to working capital and peace of mind, our Remit ATM product allows this optometrist to focus on what she does best: delivering the highest standard of eye care service possible.
Provider Web’s sole focus with our new Remit ATM product is to help our healthcare providers overcome the cash flow challenges created from reimbursement delays by allowing them access to the money they need right when they need it. Remit ATM is fast and flexible. Remit ATM is convenient. Remit ATM is peace of mind. Remit ATM is as easy as taking a withdrawal from the ATM machine.
Call Provider Web Capital today at 855-860-9700 to speak with a Senior Business Advisor to learn more about this innovative solution and how Remit ATM can help your health care business thrive. You can also visit us online at www.providerwebcapital.com.