The CEO of Survival Strategies, Inc., Craig Ferreira, having just completed an in-depth study, announced the results of their Effective Reimbursements Program as quite spectacular!
The inception of their ERM program came about due to a large number of their client base in all 50 states reporting great difficulty in collecting money owed from insurance companies for services rendered. These difficulties include lost claims, large amounts of required documentation, and general slowness in claims processing. After thorough research of the insurance industry, Mr. Ferreira collaborated with two colleagues and found that most practices did have a workable software program for insurance billing, but there was a definite missing ingredient – the Know-How and ability to collect and deal with every barrier possibly encountered which could slow down reimbursements. As there was no such program on the market, they worked to fully codify, test and implement the needed training and administrative system required to efficiently and effectively handle collections.
A study was done on a cross section of clients from 17 different states who had completed their Effective Reimbursements Program; CA, PA, WY, IA, NY, TX, UT, KS, CO, AZ, MO, AL, WA, TX, LA, IL, AR, and included practices with a broad spectrum of disciplines such as Physical Therapy, Audiology, Occupational Therapy, Certified Hand Therapy and Pediatric Therapy. All were engaged in this study to ensure the system’s workability in any private practice or business with the task of collecting insurance reimbursement money.
Once completing this analysis, Mr. Ferreira was pleased to find the overall average increase in statistics to be extremely impressive. Here are the results:
- 22% increase in collections; some even as high as 49%!
- Practice return on investment averaging $99,152; some as high as $350,000!
- Overall percentage of return on investment averaged 46%.
In response Mr. Ferreira said,“We are really proud that we have developed a system that effectively works to increase cash flow and insurance reimbursement collections of this magnitude. This is really big! We are now ready to export this program to other types of business with similar needs of collecting insurance reimbursements.”
Survival Strategies, Inc. guarantees a return on investment with this program for clients who fully apply themselves, and they do whatever it takes to ensure their clients do in fact achieve this.
One particular client had this to say about the program:
"I decided to work with Survival Strategies on the Effective Reimbursements Program as I had an Accounts Receivable which was huge and out of control. After 8 years in business, I was finally able to confront the fact that our billings and collections needed help. We needed a system.
"We signed up for this program at the end of June and my billings and collections staff were trained in early July. After implementing the program for only one month, our collections increased by $30,000.00. Since that time we have collected from $10,000.00 to $40,000.00 more per month than we ever had collected in our ‘best month’.
"To date, in the past year, with this system in place we have collected over $350,000.00 more than we did over the last year at this time. Better yet, our accounts receivable is now under control . In retrospect, I can only say I should have done this program immediately when it was offered. My advice to any practice owner that is frustrated in not collecting money that he or she has earned is to do this program immediately.” - S.B., Practice Owner, WI, USA.
About Survival Strategies, Inc.
Survival Strategies, Inc. (survivalstrategies.com) is a training and consulting firm to healthcare professions including Physical Therapy, Occupational Therapy, Speech Therapy, Audiology, Dental and Medical as well as Accounting and CPA Firms. They are located in Burbank, California with clients throughout the United States, Canada and Barbados. Founded by Craig Ferreira and his late partner Harvey Schmiedeke, they have helped private practices expand for more than 25 years.