Medical Billing

507 views
462 views

Published on

A Full Service Medical Billing Company

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
507
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Medical Billing

  1. 1. Doctors Have a Big Problem <ul><li>Only have two sources of income: </li></ul><ul><ul><li>Insurance </li></ul></ul><ul><ul><li>Patients </li></ul></ul>And Both Are Usually Slow to Pay… If They Ever Pay at All!
  2. 2. Innovative Services Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  3. 3. Innovative Services Electronic Medical Claims
  4. 4. <ul><li>“ Some doctors spend more time filling out forms than taking care of patients.” </li></ul><ul><ul><ul><ul><li>Dr. C. Everette Koop, Former Surgeon General </li></ul></ul></ul></ul>It’s Not Just You…
  5. 5. Problems with Paper Filing <ul><li>SLOW </li></ul><ul><ul><li>Turn-around up to 58 days </li></ul></ul><ul><li>High Rejection Rate </li></ul><ul><ul><li>National Rejection Rate is 35% </li></ul></ul><ul><li>High Cost </li></ul><ul><ul><li>National Average of $12 per claim* </li></ul></ul>* American Medical Association Survey
  6. 6. The Electronic Solution <ul><li>Reduced Rejection Rate </li></ul><ul><li>Less than 2% </li></ul><ul><li>Lower Billing Costs </li></ul><ul><li>Save up to 50% by outsourcing </li></ul><ul><ul><li>Faster Payment of Claims </li></ul></ul><ul><ul><li>Average of 14 days </li></ul></ul>
  7. 7. You Have Two Options <ul><li>1. Invest thousands of dollars in hardware, software, training and support </li></ul><ul><li> OR </li></ul><ul><li>2. OUTSOURCE IT! </li></ul>
  8. 8. Problems with In-House Electronic Filing <ul><li>Computer Setup is Complex </li></ul><ul><li>Staff Learning-curve is high </li></ul><ul><li>Initial Costs are expensive </li></ul><ul><li>On-going Costs </li></ul><ul><ul><li>New Staff Training </li></ul></ul><ul><ul><li>Constant Updates to Software </li></ul></ul><ul><ul><li>On-going Support </li></ul></ul>
  9. 9. Here’s How It Works <ul><li>Patient and Claims data is picked up, faxed or entered by office staff </li></ul>
  10. 10. Step Two <ul><li>Claims are submitted within 24 hours </li></ul>Medicare/Medicaid Insurance Companies
  11. 11. Step Three <ul><li>Payments from insurers are sent directly to you </li></ul>
  12. 12. Final Step <ul><li>You verify claims status online </li></ul><ul><li>We invoice you for claims filed </li></ul>
  13. 13. Innovative Services Patient Payment Plan Electronic Medical Claims
  14. 14. Collecting from Patients Can be a Nightmare <ul><li>The average healthcare provider only collects 49% of what patients owe </li></ul><ul><li>Even the patients that DO pay are EXTREMELY SLOW! </li></ul>
  15. 15. How Do YOU Deal With Slow-Pays? <ul><li>Collection Agency? </li></ul><ul><ul><li>Up to 50% of whatever they collect </li></ul></ul><ul><ul><li>May damage patient/doctor rapport </li></ul></ul><ul><li>In-house Financing? </li></ul><ul><ul><li>You become a banker! </li></ul></ul><ul><ul><li>Payments trickle in over 60-120 days </li></ul></ul><ul><li>Write it off? </li></ul><ul><ul><li>How much are you losing each year? </li></ul></ul>
  16. 16. Ask Yourself... <ul><li>What would it be worth for you to get the money that you have already earned ... on the same day of the month, every month… without having to send a single invoice? </li></ul>Our clients will tell you… It’s worth thousands!
  17. 17. Patient Payment Plan ™ <ul><li>Benefits to you… </li></ul><ul><ul><li>The ability to to extend credit with assurance of payment </li></ul></ul><ul><ul><li>Filters out bad credit risks </li></ul></ul><ul><ul><li>Staff can concentrate on patient care </li></ul></ul><ul><ul><li>Increases your cash-flow </li></ul></ul><ul><li>Process used by… </li></ul><ul><ul><li>Insurance Companies </li></ul></ul><ul><ul><li>Health Clubs </li></ul></ul><ul><ul><li>Mortgage Companies, etc. </li></ul></ul>
  18. 18. Patient Payment Plan ™ Testimonial
  19. 19. Innovative Services Patient Payment Plan Electronic Medical Claims Patient Well Care Program
  20. 20. We Can Help The Doctor See More Patients <ul><li>Automated Cards and letters can be sent out to remind patients of: </li></ul><ul><ul><ul><li>Appointments </li></ul></ul></ul><ul><ul><ul><li>Physicals </li></ul></ul></ul><ul><ul><ul><li>Mammograms </li></ul></ul></ul><ul><ul><ul><li>Check ups </li></ul></ul></ul><ul><ul><ul><li>Other Well Care Programs </li></ul></ul></ul>
  21. 21. Examples of Mailers
  22. 22. Innovative Services Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  23. 23. We Can Recover Your Lost Profits <ul><li>We use technology to collect your past due accounts </li></ul><ul><li>We are NOT a collection agency </li></ul><ul><li>Collection rate averages 41% of money owed, even after 120 days </li></ul>
  24. 24. Profit Recovery <ul><li>Letters are </li></ul><ul><ul><li>From you, on your letterhead </li></ul></ul><ul><ul><li>Imply Credit Bureau Reporting </li></ul></ul><ul><ul><li>Mention Collection Agency intervention </li></ul></ul><ul><ul><li>Suggest Intensive Attorney intervention </li></ul></ul><ul><li>All payments sent directly to you </li></ul>
  25. 25. Series of Increasingly Demanding Letters Letters from an Attorney sent when there is no response
  26. 26. How Can We Help You? Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  27. 27. 866-777-9042 Thank you

×