TAMPA, Fla., Jan. 25, 2019 /PRNewswire/ -- Emergency Recovery Inc. (ERI — https://www.4eri.com/) recently published an article in the Rev Cycle Quarterly that fully explicated the need for third-party liability (TPL) coverage for most U.S. based hospitals. Citing dramatically increased costs and concurrent drops in insurance reimbursement, ERI founder Bobbie Celler Esq. describes the genesis of a perfect financial storm.
TPL reimbursements can recoup as much as 100 percent of charges levied, if handled correctly. Additionally, TPLs pay double commercial rates and more than triple governmental plan rates. It is an alternate reimbursement stream that would seem to be a bulwark against bankruptcy and financial ruin.
Mr. Celler notes that despite the broad nature of TPL coverage, however, it is not the same as traditional insurance. TPL coverage is notoriously nuanced and complicated, specifically requiring both a legal education and experience working in the field to successfully navigate the system.
TPL coverage is rapidly becoming more popular with hospitals, but a lack of expert TPL representation can quickly cost those same hospitals even more revenue. Considering the amount of time and consult fees wasted with non-experts, and subsequent legal fees from possible lawsuits, hospitals cannot afford mistakes.
"It's no wonder why hospitals are always being sued for balance-billing issues. Most of the 'MVA specialist' vendors they use are really just glorified billing companies. They are not attorneys who understand how to navigate these complex insurance matters, which must be handled with both a white glove and an iron fist," said founder and attorney Bobbie Celler
Across the nation, missing revenue from internal processes, venders, adjustments and write-offs can easily reach into the billions of dollars annually for hospitals and other reimbursement seekers. It is an unaffordable and unsustainable model. Hospitals accepting TPL claims must have the right partners who can identify and maximize those claims on their behalf.
TPL insurance can cover virtually any type of accident, from health to Motor Vehicle Accidents (MVA), as well as "slip-and-fall" accidents and Workers' Compensation claims. To learn more, visit: www.4ERI.com.
About Emergency Recovery Inc. (ERI) & Rev Cycle GPO
Through its headquarters in Tampa, Florida, ERI and Rev Cycle GPO were both created by Third-Party Liability (TPL) and complex insurance attorney Bobbie Celler. Mr. Celler was the legal host on the nationally syndicated CW Network. He has contracted with over 400 hospitals and medical providers across the country since 2010 and earned approximately half a billion dollars in found revenue from complex TPL claims on behalf of his clients. Learn more at: www.4ERI.com and www.TheRevCycleGPO.com.
SOURCE Emergency Recovery Inc. (ERI) & Rev Cycle GPO