In addition, the two bills in the House and Senate will adopt financial penalties for insurance companies that do not make claim payments within 45 days and prohibit companies to suspend payments on receivables. In return, applications include precise definitions of what information is necessary for health care providers to submit to insurance companies to receive payment.
The bill is the result of administrative headaches between healthcare providers and health insurance companies in Missouri. Hospitals and medical clinics have complained significant gaps in time between when the services are provided until they receive payment. But health insurance companies argue that the process would be accelerated if health care providers insured all claims were valid, well presented and contain all required information.
Really there, the bill is a beautiful thing.
The Associated Press and the Kansas City Star, Missouri Department of Insurance, Financial Institutions and Professional Registration issued a statement last report one month more than $ 500 million in unpaid debts 69 hospitals in Missouri. A quarter of these claims were aged 0 days.
The report sparked a bipartisan action between politicians and the bill received absolutely no opposition. Sometimes everything works in the world of politics. (Insert sarcastic smile.)
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