Solve Your Patient Payment Crisis: 3 Easy Steps to Getting Paid

Slides:



Advertisements
Similar presentations
COLLECTIONS TIPS FOR COLLECTIONS Collect within 1 st 30 days. Designate a time to review accounts weekly. Follow up on past due accounts. Restate the.
Advertisements

Effective Strategies for Working Accounts Receivables Managing Your Receivables So They Don’t Manage You.
© 2009 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill Career Education Computers in the Medical Office Chapter 1: The Medical Office.
SHELLY GUFFEY MAKING THE MOST OF YOUR REVENUE CYCLE MANAGEMENT TECHNOLOGY
PRESENTED BY MSG ONLINE WEBINARS COPY WRITE 2010© Medical Billing Continuing Education Course.
Financial Issues Chapter 14 Start Quiz. In 1985 the average prescription price was approximately $10. By 2011 what did the average prescription price.
SV: IS PATIENT BILLING A LOSING PROPOSITION FOR BILLING COMPANIES, TOO MANY PATIENTS, TOO MANY NO PAY.
Universal Health Care without Private Health Insurance? Single Payer: The Only Affordable, Lifelong, Comprehensive, Quality Health Care Plan for Every.
The Easy Guide to Actuarial Value. How Health Insurance Works $ Health Insurer $ Premiums Claims Payments.
Source: Kaiser Family Foundation analysis of National Health Expenditure (NHE) Historical ( ) data from Centers for Medicare and Medicaid Services,
Its Not Just The Economy! Economics Of course when the economy turns around it will help your business. 2.However, there has been dramatic change.
Students for a National Health Program (SNaHP) Surprising Statistics Supporting Single Payer!
THE UNITED STATES HEALTH CARE SYSTEM Combining Business, Health, and Delivery CHAPTER Copyright ©2012 by Pearson Education, Inc. All rights reserved. The.
© 2015 TriZetto Corporation 2 Managing Patient Debt: Minimizing the Cost of Collections Pete Bekas TriZetto Provider Solutions ®
Reimbursement Policy Professional Fee time based billing RVU and reimbursement are 100% equal to face to face service Colorado Medicare – Reimburses if.
Methods of Payment for Healthcare
Why pricing transparency?
Health Insurance Key Definitions & Frequently Asked Questions
SANDCASTLE FAMILY PRACTICE
HEALTHCARE INSURANCE – THE BASICS
Growth in prescription spending had slowed, but increased rapidly in 2014 and 2015
Developing a Business Plan to Increase Third Party Reimbursement
Issue Brief available at:
Retail Healthcare It’s About Getting PAID.
Reasons why medical practices prefer
Pharmaceuticals Chapter 11 Part 1.
Reimbursement Nutr 564: Summer 2002.
Skills for Independent Living: Volume III - Health
Issue Codes Claim not on file Claim in process Claim forwarded to
Insurance.
Auto Insurance Day 3 Notebook page 42.
What do you think is the average cost for the following…
HEALTH INSURANCE.
Providing Peace of Mind…
Health Insurance Eligibility Verification and Authorization:
2018 Medical Plans Comparison Tools and Resources
Another Boring RHC Cost Report Presentation
Telehealth’s value to health systems June 2017.
Good afternoon. We are excited to have you here
2018 Medical Plans Comparison Tools and Resources
Percent of Total Health Care Spending
Methods of Payment for Healthcare
“Health Care Fraud” 18USC, Ch. 63, Sec. 1347
Methods of Payment for Healthcare
Claim Remedi Services, Inc.
Methods of Payment for Healthcare
TRANSITION Critical Illness Insurance Personalized Complete Affordable
Component 1: Introduction to Health Care and Public Health in the U.S.
2019 Medical Plans Comparison Tools and Resources
Why Group Hospital Indemnity?
For Patients: Frequently Asked Questions
HEALTH INSURANCE.
Ametros Overview.
Growth in prescription spending had slowed, but increased rapidly in 2014 and 2015
Delivering Accurate Patient Estimates
For Patients: Frequently Asked Questions
Delivering Self Service BI in the Changing Healthcare Industry
Supplementary Data Tables, Trends in Hospital Financing
We will take a little quiz on what you learned yesterday
Average Monthly Social Security benefit payment
Your Healthcare FSA Flexible Spending Account
Best Practices in Healthcare Billing and Coding Integration of Medicare and Medicaid Eligibility Determination Martha Ketcher USET THPS Director, USET.
Payment System Options
Issue Brief available at:
Module 5 HC Economics Students.
Module 1: Introduction to health care finance Student notes
Making managing healthcare expenses easier
Section 24.2 Participating in Your Healthcare Objectives
Medicare - the Basics Jeff Barlow – (949)
Presentation transcript:

Solve Your Patient Payment Crisis: 3 Easy Steps to Getting Paid William Todd Andros Founder & CEO tevixMD Corp.

We’re Facing a Patient-Payment Crisis. No One is Exempt. The patient is now your 3rd largest payer behind Medicare and Medicaid…. responsible for up to 40% of the medical bill. -- American Hospital Association Report, 2014 “The average annual out-of-pocket costs per patient rose almost 230% between 2006 and 2015.” -- Kaiser Family Foundation www.tevixMD.com

Who here believes that if a patient has insurance you’ll get paid? www.tevixMD.com

Finding Insurance ≠ Getting Paid Medical bills for 8 of 10 patients with insurance will NOT be paid. SOURCE: tevixMD internal client data www.tevixMD.com

#1 Healthcare Has Become a Retail Business Patients are now responsible for payment. “The patient is your 3rd largest payer after Medicare and Medicaid.” SOURCE: HFMA Study Claims per day 100 Value of claim $40.00 Daily value $4,000.00 80% Patient pay $3,200.00 20% Insurance $800.00 The Deductible Trap™ www.tevixMD.com

#2 A New Mindset is Needed Successful Healthcare Providers are adopting a retail approach. Know who is responsible for the bill. Collect before processing / services rendered Change in thinking Change in tools www.tevixMD.com

#3 Stop Using Old Tools to Solve New Problems New Technology is Available – There Are No Barriers No software or hardware to purchase NO IT Department necessary Almost no capital costs Quick start-up / 1 business day Very little training needed Cloud – Patient centric Real-time patient options FIX CURRENT ISSUES / Remove blocks to getting paid www.tevixMD.com

Let’s Do a Little Test to See Why Finding Insurance is Not Enough… I need volunteers -- non BCBS -- willing to be a patient for our test www.tevixMD.com

tevixMD Demo www.tevixMD.com

Do you still think you’re getting paid if you find insurance for that patient? www.tevixMD.com

The Patient Payment Crisis isn’t getting better… Success Requires Time & Commitment It takes time to unfold a new plan Training, Follow-Up & Adjustments www.tevixMD.com

tevixMD processes are patented. NO ONE does what We Do… Know who’s responsible for the bill Bulk Payments Patient payment solutions / get paid within 24 hours Move validated data into any 3rd party system Remove the Blocks to Getting Paid www.tevixMD.com