Medical Billing and Cash Flow Services for Medical Providers

2,450 views

Published on

Payment Automation Network, Inc. is dedicated to any doctor who is seeking to increase his or her cash flow using new innovations in technology. In this section, you will find solutions for increasing the amount of money—and speeding up the time it takes to collect money—from both insurance companies and your patients. We provide many services beyond medical billing services and electronic medical claims filing. You will also find information on our Patient Well-Care Program that automatically and systematically follows up with your patients and therefore increases patient retention and billings. Please contact us if you have any questions or if we can be of service to you.

•Real-time Electronic Medical Claims Filing and Medical Billing™
•Patient Payment Plan™
•Patient Well Care Plan™
•Profit Recovery Service
•Medicare RAC Baseline Audit Service
•Why We Are Different

www.PaymentAutomation.net

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

No Downloads
Views
Total views
2,450
On SlideShare
0
From Embeds
0
Number of Embeds
58
Actions
Shares
0
Downloads
139
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide

Medical Billing and Cash Flow Services for Medical Providers

  1. 1. Payment Automation Network Inc. Medical Providers Presentation <ul><li>Please click your mouse to continue to the slideshow. You can press the <ESC> key at any time to quit. </li></ul><ul><li>Payment Automation Network </li></ul><ul><li>Providing Cash Flow Solutions </li></ul>Visit us on the web at www.PaymentAutomation.net
  2. 2. 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!
  3. 3. Innovative Services Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  4. 4. Innovative Services Electronic Medical Claims
  5. 5. <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…
  6. 6. 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
  7. 7. 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>
  8. 8. 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>
  9. 9. 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>
  10. 10. Here’s How It Works <ul><li>Patient and Claims data is picked up, faxed or entered by office staff </li></ul>
  11. 11. Step Two <ul><li>Claims are submitted within 24 hours </li></ul>Medicare/Medicaid Insurance Companies
  12. 12. Step Three <ul><li>Payments from insurers are sent directly to you </li></ul>
  13. 13. Final Step <ul><li>You verify claims status online </li></ul><ul><li>We invoice you for claims filed </li></ul>
  14. 14. Innovative Services Patient Payment Plan Electronic Medical Claims
  15. 15. 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>
  16. 16. 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>
  17. 17. 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!
  18. 18. 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>
  19. 19. Patient Payment Plan ™ Testimonial
  20. 20. Innovative Services Patient Payment Plan Electronic Medical Claims Patient Well Care Program
  21. 21. 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>
  22. 22. Examples of Mailers
  23. 23. Innovative Services Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  24. 24. 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>
  25. 25. 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>
  26. 26. Series of Increasingly Demanding Letters Letters from an Attorney sent when there is no response
  27. 27. How Can We Help You? Patient Payment Plan Electronic Medical Claims Profit Recovery Services Patient Well Care Program
  28. 28. We can help improve your cash flow. Contact us today www.PaymentAutomation.net Payment Automation Network, Inc. Email: [email_address] Toll Free: (800) 813-3740

×