Medical Insurance Resolution & Patient Responsibility Services


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Presentation describing our unique flat fee service for Healthcare Providers.

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Medical Insurance Resolution & Patient Responsibility Services

  1. 1. And Full Service Collection Agency Endorsed by the: Presented by: Sara Postlethwaite Account Consultant 1866.844.4341x23
  2. 2. <ul><li>Creditors have better memories </li></ul><ul><li>than debtors. </li></ul><ul><li>— Benjamin Franklin </li></ul>
  3. 3. <ul><li>How would your business change if your patients suddenly “remembered” to pay </li></ul><ul><li>what they owed you? </li></ul>
  4. 4. <ul><li>We understand debtors and how to ensure they’ll pay you . </li></ul><ul><li>Since 1970 we’ve led the industry in profit recovery. </li></ul><ul><li>We know what motivates patients to pay their bills. </li></ul><ul><li>We develop and test our services for maximum response. </li></ul><ul><li>We have an organized, proven system that works. </li></ul><ul><li>We combine best practices with leading-edge technologies for superior results. </li></ul>
  5. 5. That’s why Transworld Systems has the best debt recovery rates in the industry. In fact, Transworld’s recovery rate is consistently four times higher than the National Collections Industry average.
  6. 6. Listen to the Experts <ul><li>“ Transworld gets credit for the highest recovery rate in the industry.” </li></ul><ul><li>— Barron’s </li></ul>
  7. 7. <ul><ul><li>Transworld Systems </li></ul></ul><ul><ul><li>recovered in excess of </li></ul></ul><ul><ul><li>$700 million for more than </li></ul></ul><ul><ul><li>60,000 clients in 2007, including </li></ul></ul><ul><ul><li>many Fortune 500 companies </li></ul></ul>
  8. 8. <ul><li>How much of that $700 million was yours? </li></ul>
  9. 9. About Transworld Systems <ul><li>OUR MISSION </li></ul><ul><li>Transworld Systems will </li></ul><ul><li>consistently provide clients with </li></ul><ul><li>the industry-leading receivables recovery rate , through a relentless pursuit of quality, </li></ul><ul><li>supported by innovative technologies. </li></ul>
  10. 10. Traditional Approach <ul><li>Most companies take a two step </li></ul><ul><li>traditional approach: </li></ul>STEP ONE: In-House Efforts STEP TWO: Percentage Collection Agencies 1 2
  11. 11. Traditional Approach <ul><li>STEP ONE: In-House Efforts </li></ul><ul><li>You mail invoices out in a timely manner. The second notice goes out 30 days later. </li></ul><ul><li>Then what? </li></ul><ul><li>Chasing after accounts… hours on the phone tracking down patients… unsuccessful efforts continue 90, 120 even 160 days. </li></ul><ul><li>Chances of recovery get slimmer and slimmer. </li></ul>
  12. 12. <ul><li>In fact, at 12 months, </li></ul><ul><li>only 1 in 100 patients will pay you! </li></ul>
  13. 13. Traditional Approach <ul><li>STEP TWO: Percentage Collection Agency </li></ul><ul><li>You submit delinquent accounts to a percentage collection agency. </li></ul><ul><li>They keep 30 to 50% of what they recover and eventually you receive some money. </li></ul><ul><li>You’ve sacrificed a huge percentage </li></ul><ul><li>of your profits. </li></ul><ul><li>Profits that are rightfully yours. </li></ul>
  14. 14. Traditional Approach <ul><li>How’s a traditional approach working for you? </li></ul><ul><li>Are you satisfied that your staff spends so much of its time on delinquent accounts that won’t be paid? </li></ul><ul><li>Are you satisfied paying a percentage collection agency 30 to 50% of the money that is rightfully yours? </li></ul><ul><li>Are you satisfied with the ROI you’re getting on collection of past due accounts? </li></ul>
  15. 15. <ul><li>I believe that if you show people the problems and you show them the solutions, they will be moved to act. — Bill Gates </li></ul>
  16. 16. <ul><li>The Solution: </li></ul><ul><li>Transworld Systems </li></ul>
  17. 17. Transworld Solutions Transworld Approach to A/R Traditional Approach to A/R Traditional Agency Approach Client’s In-House Efforts <ul><li>Statements </li></ul><ul><li>Letters </li></ul><ul><li>Phone Calls </li></ul>Percentage agency takes 30 – 50% of amount collected Transworld Systems Verbal Demands <ul><li>Statements </li></ul>Client’s In-House Efforts GreenFlag Profit Recovery Written Demands <ul><li>Series of letters sent – client determines #, timing and attitude of letters </li></ul><ul><li>Phone-based traditional </li></ul><ul><li>profit recovery </li></ul>Legal Demands
  18. 18. The Power of Fixed Fees <ul><li>How does the power of GreenFlag’s Fixed Fees work? </li></ul><ul><li>You pay only a fixed fee for each account </li></ul><ul><li>Fixed fees average $10* per account </li></ul><ul><li>No percentages are taken with GreenFlag services </li></ul><ul><li>*Company average </li></ul>
  19. 19. Listen to the Experts <ul><li>“ In addition to the superior collection rate and speed of recovery, Transworld’s low fee provides the client with a 30%-70% savings.” </li></ul><ul><li>— FORBES Magazine </li></ul>
  20. 20. GreenFlag Advantages <ul><li>PAY LESS </li></ul><ul><li>GreenFlag flat fees average less than $10 per account. </li></ul><ul><li>NET MORE MONEY </li></ul><ul><li>No percentages taken; all recovered money sent to you </li></ul><ul><li>RAPID RESULTS </li></ul><ul><li>Early action by an outside party motivates payments </li></ul><ul><li>RETAIN CONTROL </li></ul><ul><li>24/7 web access to manage accounts in “real time” </li></ul>
  21. 21. The Power of Early Intervention <ul><li>Why does using GreenFlag early </li></ul><ul><li>make such a difference? </li></ul><ul><li>The longer you wait, the less you’ll recover </li></ul><ul><li>The conflict is deflected quickly away from you so you can save your patient relationships </li></ul>
  22. 22. The Power of 3rd Party Intervention <ul><li>Why is contact from an outside party more effective than in-house efforts? </li></ul><ul><li>The patient knows you’re serious about getting your money </li></ul><ul><li>The patient is concerned his debt will affect his ability to get credit </li></ul><ul><li>The patient knows your efforts to collect will continue until he pays </li></ul>
  23. 23. Why do GreenFlag written demands work so well? <ul><li>Return address is from one of the 100+ offices nationwide </li></ul><ul><li>You choose the tone of the demand: diplomatic or more intensive </li></ul><ul><li>You have messaging options </li></ul><ul><li>We’ll send Thank You notices upon request to help you retain valued patients </li></ul>The Power of Written Demands
  24. 24. The Power of National Coverage <ul><li>Why does a national presence improve your chances of being paid? </li></ul><ul><li>You get local service with national coverage in 100+ offices in the United States & Puerto Rico </li></ul><ul><li>We match the zip code of your patient with the nearest regional office </li></ul><ul><li>Patients take a demand letter more seriously when the return address is “just around the corner.” </li></ul>
  25. 25. The Power of Control <ul><li>Why is it important to be in control of submitting & withdrawing accounts? </li></ul><ul><li>You need to be in charge because this is your business. </li></ul><ul><li>You decide which accounts should get attention and how aggressive to be </li></ul><ul><li>You decide when to add, delete or put accounts on hold – and we charge no penalties </li></ul><ul><li>You check your “real time” reports 24/7 so you can make the best choices for your accounts </li></ul>
  26. 26. 24/7 “Real Time” Reporting <ul><li>Client controls all starts and stops </li></ul><ul><li>Ability to access, update, and manage accounts online </li></ul><ul><li>Real-time, web-based account reporting </li></ul><ul><li>24/7 access to account information </li></ul>
  27. 27. Listen to our Clients <ul><li>“ We have been Transworld clients for the past eleven years, and have been very pleased with the recovery results they provide. The Online Client Portal makes it easy for my staff to submit debtors and access account information… I highly recommend Transworld Systems Inc. to any practice interested in improving their cash flow and reducing collection costs.” </li></ul><ul><li>— Jerry A. Nelms, D.O. Physician and Surgeon, Jerry A. Nelms, D.O. Inc. </li></ul><ul><li>“… At first, it sounded too good to be true, but when Transworld showed me they were already working with over 10,000 other practices, I figured they must be doing something right… In the first 90 days I noticed an increase in my cash flow and I use them every month on my slow paying patients and insurance companies.” </li></ul><ul><li>— David S. James, D.O. Physician, Green Country Physicians Group </li></ul>
  28. 28. Listen to our Clients <ul><li>“ This Transworld Systems product makes my job so much easier, as it effectively communicates to our patients and insurance companies that their account is delinquent. The return has been great with 86.4% of our insurance accounts responding and 74.9% of dollars collected.” </li></ul><ul><li>— Catherine Cantor, A/R Coordinator, HSS&P </li></ul><ul><li>“ In today’s economy it is more difficult than ever to maintain a healthy profit margin, and Transworld has proven to be the most logical first step in the recovery of delinquent accounts. I have only good things to say about Transworld. </li></ul><ul><li>— Linda Lukaik, Billing & Collections Mgr. Northtowns Oral Surgery </li></ul>
  29. 29. The Power Beyond GreenFlag <ul><li>What happens if patients don’t pay after GreenFlag demand letters? </li></ul><ul><li>You decide if you want to go to the next step: verbal demands </li></ul><ul><li>You benefit from a professional team of well-trained collectors using industry-leading technology from telephone centers throughout the country. No fees unless additional money is recovered. </li></ul><ul><li>You can move to legal action and Transworld Systems pays all attorney and court fees </li></ul>
  30. 30. GreenFlag Insurance Resolution <ul><li>Tired of Insurance company stall tactics delaying your cash flow? </li></ul><ul><li>Transworld Systems is the leader in providing medical and dental practices with better tools for recovering slow paying accounts and expediting reimbursement from insurance companies. </li></ul><ul><li>Our proven third party demands reprioritize your claims, resulting in swifter, more accurate resolution. </li></ul>
  31. 31. Why GreenFlag Works <ul><li>Insurance companies will respond sooner to a third party . If a collection agency demand citing specifics came to your office, would a staffer handle it or would a supervisor? It is no different at a claims office and resolution speeds up dramatically when a supervisor gets involved. </li></ul><ul><li>State statutes are specific as to the time and manner of violations for not responding with a payment or explanation. We will cite a specific state statute and number that may have been violated. </li></ul><ul><li>Local impact . With over 100 offices nationwide, insurance carriers are contacted by a local TSI office – giving you and your staff third party clout with local impact. </li></ul><ul><li>All pertinent claim information on each demand as well as instructions to pay you directly. </li></ul>
  32. 32. The Results Say it all <ul><li>A surgical hospital submitted 265 claims totaling $622,000. In 60 days, Transworld recovered more than $400,000 at a total cost of $2,120. </li></ul><ul><li>A large, non-profit hospital assigned Transworld 120+ day-old claims totaling $584,000. Transworld recovered more than $385,000 in 75 days. </li></ul><ul><li>“ Since July 2001, Transworld has collected over $600,000 for our office in delinquent insurance claims with their Insurance Resolution program. The collection cost was a mere 1.1%! We’re now also using Transworld on our private pay accounts and getting 50% recovery at 2% collection cost !” </li></ul><ul><li>---Ruby Dust, Administrator, Surgery, Inc. </li></ul><ul><li>“ Re-directing funds previously spent on in-house collection letters and efforts improved our bottom line by increasing revenue and decreasing overhead.” </li></ul><ul><li>--- David Kirk, Admin., Intermountain Orthopaedics </li></ul>
  33. 33. Transworld Systems <ul><ul><li>Transworld Systems is simply the best solution to Accounts Receivable management and overdue accounts. </li></ul></ul><ul><ul><li>Take action today and maximize your cash flow. </li></ul></ul><ul><ul><li>Contact: </li></ul></ul><ul><ul><li>Sara Postlethwaite </li></ul></ul><ul><ul><li>Medical A/R Consultant </li></ul></ul><ul><ul><li>Toll Free 866.844.4341 x23 </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li> </li></ul></ul>