What does anyone really know about RxAssure?

[Anonymous]

Someone is inserting it in every thread here, so they have made me curious.

They claim to insure reimbursement, e.g. they pay "instantly" and then do the processing.

My guess is that to cover Provenge they must charge at least 6%, which means they're taking 40% of what the docs get.

That's a lot given the claims that Medicare pays in 14 days (so I would hope "instantly" means they pay the invoice?) and I gather the codes are simple, you've either "got them" or you don't. A friend in medical claims with United Healthcare says she likes the Provenge claims as they are simple, done well (because the money is high and it's easy) and she has to process XX claims (of any sort) a day.

So, that seems like a lot to cover a float of 14 days and a low rate of getting kicked back, but still, it's medicine and everybody wants to rake a lot.

Anyone know more than these speculations?

 

[Anonymous]

Sounds good in theory. Its like factoring. Problem is the only product they list on their website is Provenge. I'm not sure I'd do business with them given they look very new and probably can't back up their promise with financial strength.

I also believe the majority of reimbursement issues have been resolved.

 

[Anonymous]

I also believe the majority of reimbursement issues have been resolved.

Then you do not understand the issue. The issue is that most practices can not fund 31k or 62k or 93k before getting money back. Hard to do multiple patients siumutaneously. Company is a joke.

 

[Anonymous]

Then you do not understand the issue. The issue is that most practices can not fund 31k or 62k or 93k before getting money back. Hard to do multiple patients siumutaneously. Company is a joke.

Jackass...no need to "fund" the $. With the Q code reimbursement is 14-24 day turnaround. 99.9% of our customers have payment terms = net 120 days. They can sit on the float untl their bill is due.

 

[Anonymous]

There are claims that providers are worried that Medicare could change their reimbursement "retroactively". There are precedents claimed. It seems to be worrying to much to me.

Other than this, I agree that given supplier terms and fast reimbursement, it's just no longer an issue.

 

[Anonymous]

Don't forget, Doctors are idiots and averse to their own risk.

So, when I go to the doc, they tell me that if the insurance doesn't pay, I'm responsible.

If that happen, I'm sure I'd start getting harassed by a collection agency.

I imagine prospective Provenge patients face that and it turns the nonissue of
reimbursement into an issue.

damn shame.