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A number of healthcare organizations (56) have recently closed medical departments or ended services at facilities to shore up finances.
One, Rumford (Maine) Hospital closed its maternity program March 31 after 97 years in service!!

UChicago Medicine AdventHealth GlenOaks hospital in Glendale Heights, Ill., plans to discontinue its obstetrics services.

Charlotte, N.C.-based StarMed Healthcare announced it was closing two satellite locations July 19.

Many of these could have been avoided by making use of an underpayment recovery program that these hospitals used with all work being performed solely on a contingency basis. How long does it take to complete your analysis audit process?

Minimum facility time is 30 minutes or less to upload 835-electronic billing records through our proprietary encryption platform, which uses the highest HIPAA standards. Once we have received all contracts and data files it typically will take around 14 days to complete the analysis and start the appeals process.

Sample Case Studies:

• 123-bed Texas hospital: $6 million in underpayments through BCBS alone.

• 142-bed Louisiana hospital: $10 million+ in underpayments for top 4 payors.

• Large Pennsylvania Private Hospital: $1.2 million in underpayments from their 4th largest payer. Represents 18% of their collections for the payer.

• A hospital network: $30 million in underpayments from just three facilities.

• A large Ohio physician group: $7 million in underpayments in BCBS professional alone.

• A Tennessee clinic: $1 to $1.5 million in underpayments per payer contract

• Small Texas Community Hospital: $4,048,555.44 in underpayments from BCBS alone.

• A Missouri hospital: Over $20 million in underpayments



Larry

The CEO, Tim Muntz, has blamed the June closure of St. Margaret’s Health Spring Valley (IL) on the Spring Valley City Bank.

Evidently, the bank "swept nearly $7.3 million" in funds despite a "forbearance agreement" that the two parties entered into 6 weeks earlier. The bank's actions left the hospital "no choice" but to close, Mr. Muntz said in a bankruptcy court filing.

Mr. Muntz said that the bank swept the funds on June 5 causing the facility to announce its closure on June 12 and officially ceased operations on June 16.

The hospital filed for bankruptcy Sept 1, while nearby, Peoria, IL-based OSF HealthCare has been attempting to purchase and reopen the closed St. Margaret’s Health Peru (IL) facilities.

It's possible this could have been avoided had the hospital engaged the underpayment recovery program offered by ADHC.

https://www.loom.com/share/484e61ba9ce74e26a134b41ad40ef7c3?sid=18d11780-3093-4d8a-9074-abd0f40a28da

If you would like a direct call with the president/owner, send me an email. Thanks!!

Larry G. Potter
Senior Advisor
Lgpotter33@gmail.com