Transworld Systems Medical

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We Improve medical practices work flow process as it relates to both patient accounts and claims. We systematically help speed up cash flow with their internal follow up on past due accounts for an average of $10 per account, without the practice giving up control or a percentage of their patient accounts or claims.

Diplomatically Recover More with Transworld's GreenFlag Profit Recovery Services.

Gae Meminger
Medical Accounts Receivable Consultant
909-890-1834 Ext. 30
gae.meminger@transworldsystems.com

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Transworld Systems Medical

  1. 1. Ta ord Syst Inc. r nsw l ems, Making Cas h Flow ® Since 1970
  2. 2. L dingOurIndusty ea r• Trans world S ys te m s h as b e e n in th e b u s ine s s of M king Ca Fowfor a sh l b u s ine s s e s and organizations of all s ize s s ince 1970• We h ave as s is te d ove r 20 ,0 0 clie nts in re s olving $6 b illion in th e 00 p as t d e cad e• We s e rve ove r 20,000 m e d ical p rovid e rs and m ore th an 2,000 financial ins titu tions• We p rovid e local cu s tom e r s e rvice and s u p p ort with 10 office s 0 and ove r 70 Accou nt R e p re s e ntative s 0• O u r C om m itm e nt: “To deliver the most progressive and effective cash-fl tool avail e to our cl ow s abl ients” Making Cash Flow®
  3. 3. Part of the MG MA A dminiS erve® partner Network* HFMA staff and volunteers determined that this product has met specific criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guaranty the use of this product.
  4. 4. L ’s A ee on aF T et gr ew hings:1. Th e old e r an accou nt ge ts , th e h ard e r it is to colle ct2. Th e re is a d iffe re nce b e twe e n a cas u al d e linqu e ncy and a h igh -ris k d e b t3. C ons is te nt and e ffe ctive follow-u p can b e ch alle nging & e xp e ns ive4. Mos t p ractice s wou ld p re fe r to ne ve r h ave to u s e a colle ction age ncy Making Cash Flow®
  5. 5. Chal lenges &Cost Int na F l - s: er l olowUp • “Th e fas te r you m ail an invoice , th e fas te r you will b e p aid . If you r s e rvice d oe s not au tom atically trigge r an invoice and s tate m e nts , e s tab lis h a s e t b illing s ch e d u le , p re fe rab ly we e kly. ” - The Journal of Accountancy • “M os t b u s ine s s e s h ave th e ir accou nts re ce ivab le in s h am b le s b e cau s e th e y cannot m anage th e ir s ale s and b illing on a d aily b as is .” – Smal BusinessZone.com l • “It cos ts b u s ine s s e s ap p roxim ate ly $31 .60 to re cove r a p as t d u e accou nt.” – D artnel ’s Institute of Business l • “53% of s u rve ye d s m all b u s ine s s owne rs s aid th e y are e xp e rie ncing cas h flow p rob le m s .” – D iscover Smal Business l Watch Making Cash Flow®
  6. 6. Opt Y ARPr imize our / ocess M os t p ractice s h ave a two s te p ap p roach to colle ctions : Day 30 Day 60 Day 90 Day 120 Day 150 S tate m e nt S tate m e nt S tate m e nt ($1 .1 0) S tate m e nt ($1 .1 0) S tate m e nt ($1 .1 0) In-Hous e ($1 .1 0) ($1 .1 0) Le tte r #1 ($1 .1 0) Le tte r #2 ($1 .1 0) Le tte r #3 ($1 .1 0) E fforts P h one C alls P h one C alls P h one C alls ($2.96) ($2.96) ($2.96) Day 180 (approx)C ollec tions Inte n s ive te le p h one contact an d / le gal action at a co s t of 25-50% of re cove re d am ou nts . or C h alle nge s with a Trad itional, Two S te p Ap p roach : • D e b tors know th e y owe , b u t d on’t care • D e b tors are le s s like ly to re s p ond as atte m p ts continu e • N o cap on tim e or m one y s p e nt on follow-u p • Bu s ine s s e s s p e nd too m u ch tim e ch as ing accou nts inte rnally d u e to th e h igh cos t of age ncie s and fe ar of alie nating p atie nts • Take s too long to e s tab lis h th e cas u al d e linqu e ncy vs . inte ntional d e linqu e ncy Making Cash Flow®
  7. 7. T F R he our ecommended St ges a CLIENT Making Cash Flow®
  8. 8. Pl cingA s is E sy a ccount aIt’s e as y to s u b m it accou nts : • Log on to ou r s e cu re O nline C lie nt P ortal (O C P ) and s u b m it accou nts for any of ou r s e rvice s , 24/7 • U p load accou nts one b y one or in a b atch u p load form at • Vie w accou nts , s top accou nts , re p ort p aym e nts and p u ll p e rform ance re p orts all from one e as y to u s e p ortal • You re m ain in com p le te control Making Cash Flow®
  9. 9. C ontac t 2: Diplomatic ReminderC ontac t 1: C allDiplomatic Reminder Letter Automated Reminder Call : H e llo. Th is is not a te le m arke ting call. Th is is Affiliate s Im aging calling re gard ing you r accou nt and a le tte r we re ce ntly s e nt you on Ju ne 1 , 201 1 . Th is m e s s age is for Joe S m ith . P le as e contact u s at you r e arlie s t conve nie nce at 51 0.658.5645 and re fe re nce you r accou nt nu m b e r 1 356. Again, th at’s Affiliate s Im aging at 51 0.658.5645. Th ank you for you r im m e d iate atte ntion to th is m atte r. * C lick b e low to h e ar a s am p le of th is m e s s age . M M ixed edia Cr t Ur eae gency Making Cash Flow®
  10. 10. C ontac t 4:C ontac t 3: Diplomatic ReminderDiplomatic C all Reminder Letter Automated Reminder Call : H e llo. Th is is not a te le m arke ting call. Th is is Affiliate s Im aging calling for th e s e cond tim e re gard ing you r accou nt and a le tte r we re ce ntly s e nt you o n Ju ne 1 ,201 1 . Th is m e s s age is for Joe S m ith . P le as e contact u s at you r e arlie s t conve nie nce at 51 0. 658.5645 and re fe re nce you r accou nt nu m b e r 1 356. Again, th at’s Affiliate s Im aging at 51 0.658.5645. Th ank you for you r im m e d iate atte ntion to th is m atte r * C lick b e low to h e ar a s am p le of th is m e s s age . L er ging ev a Technol ogy Making Cash Flow®
  11. 11. C ontac t 5: Final Warning Letter Outs ourced In Hous e E fforts – in Your Name Making Cash Flow®
  12. 12. Y W lbe Infor ofPr ess ou il med ogr Making Cash Flow®
  13. 13. T F R he our ecommended St ges a CLIENT Making Cash Flow®
  14. 14. GeenFa Pr R er r l g ofit ecov y F or accou nts th at are n’t colle cte d in G re e nF lag Acce le rator, ou r G re e nF lag P rofit R e cove ry s e rvice inclu d e s : • E arly th ird p arty colle ction age ncy inte rve ntion at a controlle d cos t (fixe d -fe e , no p e rce ntage s ) • C olle ction d e m and s with cons is te ntly incre as ing inte ns ity, at th is p oint d e b tors ne e d to u nd e rs tand th e cons e qu e nce s of not p aying • We ins tru ct p arty to p ay you d ire ctly • You ch oos e th e ap p roach – d ip lom atic or firm • You s tay in com p le te control th rou gh th e e ntire p roce s s • G u arante e d re s u lts • Local th ird p arty im p act from one of ou r 1 00 office s Making Cash Flow®
  15. 15. Demand 1 – 4 Y r ofPr en 0 eas ovDiplomatic, SuccessIntens ive or B ad C heck Options Pre- C ollec tion 3rd Party Demands Making Cash Flow®
  16. 16. Demand 1 – 4 Y r ofPr en 0 eas ovDiplomatic, SuccessIntens ive or B ad C heck Options Pre- C ollec tion 3rd Party Demands Making Cash Flow®
  17. 17. Or C hoos e A C all:Demand Automated Call: 2 H e llo . Th is is an im p o rtant m e s s age from Trans world S ys te m s , a d e b t colle ction com p any. Th is is an atte m p t to co lle ct a d e b t and any inform atio n ob taine d will b e u s e d for th at p u rp os e . We are calling in re fe re nce to a le tte r we s e n t you on < D ate > re gard in g o u r clie nt < TS I C lie nt N am e > . P le as e re tu rn th e call to < TS I C lie n t N am e > at < P h one > . Again, th at’s < TS I C lie nt N am e > at < P h on e > . Wh e n calling p le as e re fe r to you r id cod e < Accou n t> . Trans world S ys te m s is a d e b t colle ction com p any and any inform ation ob taine d will b e u s e d for th at p u rp os e . Th an k you . * C lick b e lo w to h e ar a s am p le of th is m e s s age . Making Cash Flow®
  18. 18. Demand 3 Driving Urgency Pre- C ollec tion 3rd Party Demands Making Cash Flow®
  19. 19. Or C hoos e A C allDemand Automated Call: 4 H e llo. Th is is an im p o rtant m e s s age from Trans world S ys te m s , a d e b t colle ction com p any. Th is is an atte m p t to colle ct a d e b t and any in form ation ob tain e d will b e u s e d for th at p u rp os e . We are callin g in re fe re nce to a le tte r we s e nt you o n < D ate > re gard ing ou r clie nt < TS I C lie nt N am e > . P le as e re tu rn th e call to < TS I C lie nt N am e > at < P h on e > . Again, th at’s < TS I C lie nt N am e > at < P h one > . Wh e n calling p le as e re fe r to you r id cod e < Accou n t> . Trans world S ys te m s is a d e b t co lle ction com p any and any inform ation ob taine d will b e u s e d for th at p u rp os e . Th an k you . * C lick b e lo w to h e ar a s am p le of th is m e s s age . Making Cash Flow®
  20. 20. 40 Years ofDemand 5 Proven Success Pre- C ollec tion 3rd Party Demands Making Cash Flow®
  21. 21. OptionalThank You Thank YouLetter Letter Pre- C ollec tion 3rd Party Demands Making Cash Flow®
  22. 22. Confidential
  23. 23. L ’s Cust et omize Y Sol ion our ut Making Cash Flow®
  24. 24. M APer ma R t GM for nce epor MG MA E nhancedPerformance Report: A ll C lients Making Cash Flow®
  25. 25. Officia M M Pr M hl Usa l G A ice- ont y ge
  26. 26. T F R he our ecommended St ges a CLIENT Making Cash Flow®
  27. 27. Ta ord Colect r nsw l l ions F or th e ve ry fe w h igh ris k accou nts th at go u ncolle cte d : • We h ave a nationwid e te am of colle ction e xp e rts wh o work th e s e ove rd u e accou nts • Th e Trans world S ys te m s C olle ctions s e rvice is continge ncy b as e d • You p ay only for wh at is re cove re d on th e s e h igh -ris k accou nts • You can s u b m it th e accou nts and p u ll re p orting d ire ctly from th e O nline C lie nt P ortal Making Cash Flow®
  28. 28. W tha ha ppens ifpaient don’tpa a ert r e t dema t s y ft hey eceiv he nds?• You d e cid e th e ne xt s te p : O p tion= Ve rb al D e m and s C olle ction - P h as e II• S e am le s s flow from in-h ou s e e fforts to a continge ncy age ncy• You r p ractice b e ne fits from a p rofe s s ional te am of we ll- traine d colle ctors u s ing ind u s try-le ad ing te ch nology from te le p h one ce nte rs th rou gh ou t th e cou ntry.
  29. 29. Insur nce R ut a esol ion• 80% of all re ve nu e for m os t h os p itals and m e d ical p ractice s com e s from ins u rance claim s file d e le ctronically or m anu ally.• D e lays in p aym e nt cau s e fru s tration and re s trict cas h -flow.• G re e nF lag S M Ins u rance R e s olu tion is a re volu tionary tool to as s is t in th e rap id re s olu tion of th e s e claim s .Time is Not on Your Sid e
  30. 30. Sympt Del yin Cl im R ut om: a a esol ionPos s ible caus es :• Incorre ct inform ation• M is s ing cod e s , s ignatu re , e tc.• M one y ap p lie d to d e d u ctib le• Ins u rance ch e cks re le as e d to p atie nts• Ins u rance com p anie s s im p ly h old ing on to you r m one y as long as p os s ib le• “C laim s ne ve r re ce ive d ”• C laim s h e ld in “R e vie w”
  31. 31. Consider t aions• R is ing inte rnal re cove ry cos ts and F TE e xp e ns e s• C ontinu e d d e p re ciation of old claim s• C oord ination of b e ne fits with p rim ary or s e cond ary p rovid e r• Billing s taff te nd e ncy toward s conce ntration on cu rre nt claim s afte r nu m e rou s atte m p ts to re cove r old e r claim s h ave faile d• C ontinu e d re s triction of cas h flow
  32. 32. T lIn- ypica House A ch pproa Internal C os t$20-$27/C laim Day 1- 31-60 61-90 91-120 121-150 151-180 181-210 30 HCFA Telephone Telephone Telephone Telephone Telephone Telephone 1500 Calls Calls Calls Calls Calls Calls OR OR OR OR OR OR OR UB04 Send Send Send Send Send Send Sent Tracers Tracers Tracers Tracers Tracers Tracers $0.50 $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 $1.25 $1.25 $1.25 $1.25 $1.25 $1.25
  33. 33. Costof“On- d” Time Hol
  34. 34. Two-S tep A pproach
  35. 35. Insur nce R ut a esol ion• Low, fixe d fe e s of $1 0* p e r claim allows you to u tilize th is s e rvice on claim s as e arly as 45-60 d ays p as t-d u e• Incre as e cas h flow, wh ile re d u cing inte rnal cos ts• E xp e d ite s re s p ons e from ins u rance carrie r• Ins u rance carrie rs by-laws and inte rnal p olicie s typ ically re qu ire im m e d iate re s p ons e to ou r lice ns e d th ird p arty contacts• O u r th ird p arty d e m and m ove s th e claim from a cle rk to a s u p e rvis or, wh o in tu rn s e ttle s th e claim• S tand ard ize s ins u rance follow-u p p roce s s C laims you can s ubmit: • C om m e rcial Ins u rance • P P O ’s • M anage d C are Plans • M e d icare • H M O ’s • Worke rs C om p e ns ation
  36. 36. Ins uranceRes olution Demand S ample
  37. 37. T R t Sa itAl he esuls y l! • A s u rgical h os p ital s u b m itte d 265 claim s totaling $622,000. In 60 d ays , G re e nF lag Ins u rance R e s olu tion re cove re d m ore th an $400,000 at a total cos t of $2,1 20. • A large , non-p rofit h os p ital s u b m itte d 1 20-p lu s d ay-old claim s totaling $584,000 th rou gh G re e nF lag Ins u rance R e s olu tion. G re e nF lag re cove re d m ore th an $385,000 in 75 d ays .
  38. 38. T R t Sa itAl he esuls y l!“S ince Ju ly 2001 , Trans world h as colle cte d ove r $2.6 m illion for ou roffice in d e linqu e nt ins u rance claim s with th e ir Ins u rance R e s olu tionp rogram . Th e colle ction cos t was a m e re .08% ! We ’re now als o u s ingTrans world on ou r p rivate p ay accou nts and ge tting 53% re cove ry at3.4% colle ction cos t!” – Ruby D ust, Ad ministrator,Surgery, Inc.“R e -d ire cting fu nd s p re viou s ly s p e nt on in-h ou s e colle ction le tte rs ande fforts im p rove d ou r b ottom line b y incre as ing re ve nu e and d e cre as ingove rh e ad .” – D avid Kirk, Ad ministrator, IntermountainO rthoped ics
  39. 39. Insur nce R ut a esol ion PutGreenFl g Insur nce R ut t w k foryou a SM a esol ion o or t y! oda
  40. 40. Ta ord Syst Inc. r nsw l ems, Making Cas h Flow ® Since 1970

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