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Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
Med Direct Patient Pay Solutions  12 11 09v1 (Printable Version)
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Med Direct Patient Pay Solutions 12 11 09v1 (Printable Version)

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  • We show this slide to provide an overview of our experience and commitment to healthcare.
  • We currently operate in 25 states, with 100 plus offices/locations
  • I want to start by immediately answering perhaps the most important question: What revenue cycle problem does MedDirect address. [click to bring in circles – describe each one]. Explain that these problems have always existed to some degree –-- proceed to next slide
  • Let me explain whey the previous slide creates a business opportunity for MedDirect….with patients responsible for a tiny percentage of a providers revenue, the problems identified on the previous slide could be written off or ignored. Explain this slide…. Today, providers don’t have that luxury – click to next slide
  • Explain this graphic,….In short, MedDirect provides tools that allow healthcare providers to effectively address problems exacerbated by the massive shift in payment responsibility from commercial health insurance companies & governmental health programs to patientsHelpful analogy – think of it as a company with a b2b model having to suddenly live in a b2c world.ADD: Why aren’t there more companies like MedDirect? Because this a new phenomenon. MedDirect is sitting in a part of the revenue cycle that has previous been unoccupied. It was unoccupied not because the tools did not exists, but because there was simply no need. Additionally, providers have never been under more margin pressure by insurance payers – some have described the patient portion of their revenue as their margin.
  • A Fundamental barrier to translating consumer concerns over health-related expenses into sales is a legacy industry mindset that believes consumers make rational benefits decisions when, in fact, they are making complex emotional decisions with the aim of achieving piece of mind.Rethink distribution to focus on consumers’ need for peace of mind by designing a simple, quick process that targets consumers when they are open to act and delivers recommendations.Create an experience that builds trust by consistently delivering on what we promise and avoiding negative moments of truth.
  • A Fundamental barrier to translating consumer concerns over health-related expenses into sales is a legacy industry mindset that believes consumers make rational benefits decisions when, in fact, they are making complex emotional decisions with the aim of achieving piece of mind.Rethink distribution to focus on consumers’ need for peace of mind by designing a simple, quick process that targets consumers when they are open to act and delivers recommendations.Create an experience that builds trust by consistently delivering on what we promise and avoiding negative moments of truth.
  • One of the primary goals of education is to set expectations and obligationsA Fundamental barrier to translating consumer concerns over health-related expenses into sales is a legacy industry mindset that believes consumers make rational benefits decisions when, in fact, they are making complex emotional decisions with the aim of achieving piece of mind.Rethink distribution to focus on consumers’ need for peace of mind by designing a simple, quick process that targets consumers when they are open to act and delivers recommendations.Create an experience that builds trust by consistently delivering on what we promise and avoiding negative moments of truth.
  • Validation – Do I owe this, Is this mine, Should this be covered by insuranceValue Assessment – Did I value this encounter, what was my experience, does the provider deserve to be paidResource Assessment – Am I able to pay the amount due in full – are there payment options to pay over time? A Fundamental barrier to translating consumer concerns over health-related expenses into sales is a legacy industry mindset that believes consumers make rational benefits decisions when, in fact, they are making complex emotional decisions with the aim of achieving piece of mind.Rethink distribution to focus on consumers’ need for peace of mind by designing a simple, quick process that targets consumers when they are open to act and delivers recommendations.Create an experience that builds trust by consistently delivering on what we promise and avoiding negative moments of truth.
  • Patient revenue cycle experience hierarchy is predetermined. The lowest level is patient communication, while the uppermost level is resolution. The higher levels in the hierarchy can only come when the lower levels in the pyramid are accomplished.A Fundamental barrier to translating consumer concerns over health-related expenses into sales is a legacy industry mindset that believes consumers make rational benefits decisions when, in fact, they are making complex emotional decisions with the aim of achieving piece of mind.Rethink distribution to focus on consumers’ need for peace of mind by designing a simple, quick process that targets consumers when they are open to act and delivers recommendations.Create an experience that builds trust by consistently delivering on what we promise and avoiding negative moments of truth.
  • This is what we are starting to do with our existing customers – MedDirect acting as a information, payment, processing, and customer service hub and consolidating the entire patient responsibility segment.
  • This is an example of a customer service process. It is typically based on the needs of the customer and is driven by a variety of factors including payer mix, average balance, volume, etc.
  • Transcript

    • 1. Patient Pay Solutions
      1
    • 2. Who We Are
      2
      MedDirect is a patient-centric healthcare service company focused exclusively on delivering comprehensive revenue cycle services to physicians and hospitals; increasing patient pay revenue while also enhancing the overall patient experience.
    • 3. 3
      What We Do
      Third-Party Insurance Process
      Front-End Software Tools
      Submission of charge
      Delivery of Care
      Collection Agency
      • Statement Processing
      • 4. Customer Service
      • 5. Cash Management
      • 6. Acct Servicing & Administration
      • 7. Reporting & Analytics
      Pre-Care
      Point of Care
      Day 1
      Day 120
      > 120 Days
    • 8. Leadership/Advisors
      MANAGEMENT
      Kenneth Bloem, M.S., Chairman & CEO
      • CEO, Stanford University Hospital
      • 9. CEO, Georgetown University Medical Center
      • 10. COO, University of Chicago Hospitals & Clinics
      • 11. CEO, The Advisory Board Company
      • 12. Former Director, Allegiance, SoftMed, etc.
      • 13. Current Director, American Telecare, METI
      • 14. Senior Advisory Board, MedAssets
      Eric Becker, COO
      • CFO & VP Administration, Davidson Instruments
      • 15. COO, ProteEx, Inc.
      • 16. COO & VP, Avreo, Inc.
      • 17. Microsoft
      • 18. The Advisory Board Company
      Spencer Galloway, CFO
      • COO & CFO, Grand Automotive Family
      • 19. CFO, MTS Transportation Systems and Bay Logistics Group
      • 20. President, Price Industries, Inc.
      • 21. President, Great Lakes Fasteners & Supply Company
      Gregory VandenBosch, President
      • Founder of MedDirect
      • 22. President, ES Financial
      • 23. Founder, INSTAR Group
      • 24. Co-founder AVG Companies
      SENIOR ADVISORS
      • Lance Piccolo, Former Chairman & CEO Caremark
      • 25. Robert Kocher, MD, Partner, McKinsey & Co.
      • 26. Breaux Castleman, former CEO, Scripps Clinic & Kelsey-Seybold
      • 27. Michael Davenport, CEO/Dir. Consumer Lending Compl., US Bank
      • 28. Ralph Muller, CEO/President, University of Penn Health System
      • 29. Scott Addison, MD, Co-founder, MedDirect
      • 30. Randy Moore, MD, Chairman & CEO, American Telecare
      • 31. Brian Gould, MD, SVP, Navimedix
      • 32. Drew Rogers, President, NetGain
      • 33. James Yee, EVP, CIO, Union Bank of California
      • 34. Julie Adelson, JD, J. Craig Venter Institute
      • 35. Steve Kett, Executive Director, The Advisory Board Co., Inc.
      4
    • 36. Where We Work
      5
    • 37. What Revenue Cycle Problems Does MedDirect Address?
      6
      COMPLEX REIMBURSEMENT SYSTEM
      LACK OF EDUCATION & OPTIONS
      Patients
      FINANCIAL RISKS / THREATS
      LACK OF PATIENT-CENTRIC TOOLS & SERVICES
      Providers
    • 38. The Market We Knew
      SITUATION: Since Medicare era, patients pay a tiny fraction of reimbursements to healthcare organizations.
      OBJECTIVE: Extract maximum reimbursements from 5 to 7 major health payers (e.g. Blue Cross, Wellpoint, Medicare, Medicaid, United Health, etc.).
      INSURANCE
      ±97%
      REQUIRED: Effective business to business processes that were documentation oriented and included tight integration between healthcare organizations and payers.
      PATIENTS
      ±3%
      7
    • 39. Emerging Market Reality
      SITUATION: Patients are projected to pay, or influence, as much as one third of reimbursements to healthcare organizations by 2012.
      OBJECTIVE: Optimize payments from tens of thousands of individual patients, while continuing to extract maximum reimbursements from health plans.
      INSURANCE
      ±70%
      PATIENTS
      ±30%
      REQUIRED: A new approach.
      8
    • 40. 9
      MedDirect’s Approach
      MedDirect patient-pay hierarchy
    • 41. 10
      MedDirect’s Approach
      Resolution
      Patient-Centric Software Platform
      Automated Statement Processing
      Combined Statement Capability
      Advanced Call-Center Technology
      Service-oriented focus on the patient
    • 42. 11
      MedDirect’s Approach
      Resolution
      Call-Center Staffed with Patient-Pay Experts
      Multi-Lingual Call Center w/Extended Hours
      Advanced Patient Web Portal & Other Education tools
      Multiple Payment Options
      Service-oriented focus on the patient
    • 43. 12
      MedDirect’s Approach
      Resolution
      Validation
      Value Assessment
      Resource Assessment
      Service-oriented focus on the patient
    • 44. 13
      MedDirect’s Approach
      Resolution
      Increased Revenue
      Increased Patient Satisfaction
      Improved Operations
      Service-oriented focus on the patient
    • 45. Value Proposition
      Improved Operations
      • Improved Productivity & Focus on Core Competencies
      (Reduce interruptions & patient billing calls)
      • Streamline Front-End Patient Processing
      (Structured patient payment program offering with Web portal to manage accounts)
      • Improve and Ensure Patient Compliance
      (Strict guidelines for adherence to changing government/ patient responsibility and HIPAA regulations)
      • Enhanced Reporting & Business Intelligence
      (Benchmark internal and external results)
      • Improved Competitive Advantage(Patient Retention & Satisfaction)
      14
      Increased Patient Satisfaction
      • Increased Payment Options
      (Includes ACH, credit cards, Web payments, checks, and payment arrangements)
      • Greater Clarity, Education & Communication
      (For patient pay responsibility & process)
      • Timely & Flexible Communication
      (Communication with patients through phone, Web, mail, email)
      • U.S. Based Multi-Lingual Call Center
      Increased Revenues
      • Increased Direct Recoveries & Payments in Full
      (Consistently greater than 30% and as much as 200%)
      • Discovery of Updated or Additional Insurance
      (Up to 30% of accounts placed)
      • Construction & Management of Payment Plans
      (Up to 25% of accounts placed)
      • Accelerated Cash Flow
      (Collection of funds sooner through proactive patient phone contact and early insurance identification)
      Decreased Expenses
      • Reduction in Collection Agency Payments
      (Fee reduction as much as 80%)
      • Reduction in Supplies, Statement & Postage Expenses
      • 46. Labor Reallocation/ Reduction Opportunities
      (Up to 25% of billing and follow up staff and patient services staff in practice offices)
    • 47. The MedDirect Hub
      15
      Technology and service allows MedDirect to become a information, processing and customer service hub - - consolidating the entire back-office process and the patient experience
      Urgent Care Center
      Lab
      Primary Care Pro-Fee
      Facility Fee
      Radiology
      Surgery Fee
    • 48. PPS Process
      *PRAI=Patient Responsibility After Insurance
      16
    • 49. Customer Service Process
      17
    • 50. Cash Mgmt. Process
      18
    • 51. Patient Portal Samples
      19
    • 52. Administrative Portal
      20
    • 53. Reporting & Analytics
      21
    • 54. Contact MedDirect
      For questions or inquiries, please contact:
      MedDirect, Inc.
      3200 Broadmoor SE
      Grand Rapids, MI 49512
      616.940.0500 phone
      866.575.6436 toll free
      616.954.2800 fax
      www.meddirect.net
      22

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