Health Insurance Reimbursement

Health Insurance Reimbursement
Name
Institution
Course Code and Title
Instructor
Date
Health Insurance Reimbursement
1 Slides 4 and 9 Analysis
Conclusions from A/R Reports
The A/R report illustrates how various insurance companies pay their invoices, with a significant illustration on the duration that the companies take to pay. It is evident that the insurance companies have the free will to make the payment any day after the invoices have been submitted. For instance, some companies such as AETNA pay their invoices within 31 to 60 days while others such as Federated Insurance keep their customers waiting until 151 to 180 days (Connell, 2019). In addition, the structure of payment is entirely up to the insurance company. Companies such as AETNA remit their payments in one payment while BCBS Texas PPO distribute their payment across the given days. The two factors, payment structure and days after which payment is made, influence the choice upon which customers can select an insurance company.
The distribution of A/R illustrates how insurance companies make companies in regards to the health department. The companies are quick to make payments in family medicine and delays payments in orthopedic. In addition, the distribution of A/R illustrates that the companies have a tendency to distribute their payments across different days.
Insurance Company Paying the Fastest
AETNA insurance company makes its payments the fastest, where according to the A/R report the company remits its full payments 31 to 60 days after it receives the invoices. Other companies such as AETNS Open Access remit their payments within this days, but does not make full payments. Making payments the fastest among insurance companies indicate that the company is efficient in meeting their obligations, thus showing that customers would highly prefer AETNA for its quick payments.
Insurance Company Paying the Slowest
Federated Insurance makes its payments the slowest. The company waits until the 151 to 180 days to remit the payments. The slow payments may reduce customer p[reference to the company since the wait of over 150 days is too long. However, despite the slowest payment, the company makes its payment in one batch, indicating reliability in payment.
Department Getting Paid Fastest
The family medicine department gets paid the fastest with an initial payment of 72.88% done before thirty days and only 4.73% remaining after one hundred and twenty days (Connell, 2019).
Department Getting Paid Slowest
Orthopedic department gets paid the slowest with only 50.28% payments done in thirty days and 17.19% remaining after one hundred and twenty days (Connell, 2019).
2 Review of Benchmarks in Slides 8 and 12
The benchmark...