What is Averde Health?
Averde is a new provider network founded by senior managed care executives who pioneered consumer-driven health plans. Consumer-driven plans have saved employers a lot of money, but Averde wants to make these plans work better for consumers and providers as well.
What is Complete Care Financing?
With Complete Care Financing, Averde pays you "More, Better, and Faster":
- More money: Providers get paid 100% of contracted rates and we collect from members ourselves. You increase your revenue by avoiding collections costs, writeoffs, and delays.
- Better payment: Clear, streamlined contracts means more accurate payment and lower costs for both of us.
- Faster payment: Prompt payment of complete claims – because we can't collect from our members until we've paid you.
How does it work?
When you see an eligible member for a covered service, and submit a complete claim within 60 days, our plans pay you 100% of the contracted rate within 30 days (excluding office-visit copays, which you continue to collect).
We then collect any deductible or co-insurance amounts from the plan member ourselves. You avoid a lengthy patient collection process and associated costs.
In addition to the benefits to your practice, plan members like this system because they get a single monthly statement from Averde instead of a blizzard of paperwork after every visit.
How do providers benefit?
Complete Care Financing increases physician net revenue by reducing patient write-offs and collections costs.
That means that physicians can devote more resources to patient care, improving patient health as well as the health of their practice.
How do Averde's rates compare to my current payers?
Averde's rates increase your practice’s cash receipts, while accounting for the consumer bad debt risk we are taking on your behalf.
For example, your largest payer might be giving you 110% of Medicare for a given service. However, for members in higher-deductible plans (Averde's target market), you might only collect 100% of Medicare once you account for collections costs and eventual write-offs.
In this case, Averde's rate might be 105% of Medicare, substantially increasing your cash collected while providing Averde a margin to account for our own bad debt losses.
Note: The figures cited above are examples. Actual rates will vary by specialty and geography, as well as other factors.
What if my bad debt is already low?
Congratulations. You have likely invested substantial resources in staffing, systems and management time to improve your collections processes and achieve these results.
However, your higher-deductible patients are still costing you the most time and effort, and generating the most write-offs. Averde offers you the opportunity to completely eliminate the burden of collecting from these highest-cost patients.
How do I sign up?
Have an Averde representative contact you. We'll send you a contract and data request with instructions for returning it to us. Once our credentialing process is complete, we will notify you that you are an Averde Participating Provider.
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