Texas Medical Providers Are Owed Approximately $8 Billion by Health Insurance Companies: Texas Prompt Pay Act Offers Help to Medical Providers Against Health Insurance Companies That Delay and Deny Payments for Clean Claims by Texas Prompt Payment Act Lawyer Jason Coomer
It is estimated that insurance companies have wrongfully denied and delay payments of approximately $8 Billion dollars to Texas Medical Providers. These delayed and denied payments have allowed some insurance companies to make large profits at the expense of hard working medical providers. In response to these unethical insurance practices, Texas has enacted the Texas Prompt Payment Act that allows medical providers including hospitals, pharmacies, clinics, and physicians to seek payments, attorney's fees, and penalties from insurance companies that wrongfully deny and delay payments.
Texas Lawyers Are Seeking Prompt Payment From Insurance Carriers For Medical Providers
Insurance carriers that violate Texas prompt pay laws and miss the deadlines for paying or responding to health care provider claims may be held liable for penalties for being late. For hospitals and physicians, the late penalties can begin within 45 days of receipt of a clean claim submitted non-electronically and within 30 days of receipt of a claim submitted electronically. For pharmacies, the late penalties can begin within 18 days of electronically submitted bills.
The penalties for late payments include a fifty percent (50%) penalty of the difference between the provider's billed rate versus its contracted rate if the payment is 1 to 45 days late and a one-hundred percent (100%) penalty of the difference if the payment is 46 to 90 days late. There are also provisions that allow an eighteen percent 18% late fee and attorneys fees to be collected on any late-paid bill.
Texas Prompt Payment Lawyer, Jason S. Coomer, is a Texas business litigation lawyer that works with other powerful business litigation lawyers to represent medical providers in seeking prompt payments from insurance companies. For more information on this topic, please contact Texas Prompt Payment Medical Provider Lawyer Jason Coomer via e-mail or go to the following web page: Texas Prompt Payment for Medical Providers.