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Published byNicholas York Modified over 8 years ago
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Doctors Have a Big Problem Only have two sources of income: Insurance Patients And Both Are Usually Slow to Pay… If They Ever Pay at All!
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Innovative Services Patient Payment PlanElectronic Medical Claims Profit Recovery Services Patient Well Care Program
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Innovative Services Electronic Medical Claims
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“Some doctors spend more time filling out forms than taking care of patients.” Dr. C. Everette Koop, Former Surgeon General It’s Not Just You…
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Problems with Paper Filing 1. SLOW Turn-around up to 58 days 2. High Rejection Rate National Rejection Rate is 35% 3. High Cost National Average of $12 per claim* * American Medical Association Survey
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The Electronic Solution Reduced Rejection Rate Less than 2% Lower Billing Costs Save up to 50% by outsourcing Faster Payment of Claims Average of 14 days
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You Have Two Options 1. Invest thousands of dollars in hardware, software, training and support OR OUTSOURCE IT! 2. OUTSOURCE IT!
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Problems with In-House Electronic Filing Computer Setup is Complex Staff Learning-curve is high Initial Costs are expensive On-going Costs New Staff Training Constant Updates to Software On-going Support
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Here’s How It Works Patient and Claims data is picked up, faxed or entered by office staff
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Step Two Claims are submitted within 24 hours Medicare/Medicaid Insurance Companies
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Step Three Payments from insurers are sent directly to you
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Final Step You verify claims status online We invoice you for claims filed
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Innovative Services Patient Payment PlanElectronic Medical Claims
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Collecting from Patients Can be a Nightmare The average healthcare provider only collects 49% of what patients owe Even the patients that DO pay are EXTREMELY SLOW!
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How Do YOU Deal With Slow-Pays? Collection Agency? Up to 50% of whatever they collect May damage patient/doctor rapport In-house Financing? You become a banker! Payments trickle in over 60-120 days Write it off? How much are you losing each year?
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Ask Yourself... 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? Our clients will tell you… It’s worth thousands!
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Patient Payment Plan ™ Benefits to you… The ability to to extend credit with assurance of payment Filters out bad credit risks Staff can concentrate on patient care Increases your cash-flow Process used by… – Insurance Companies – Health Clubs – Mortgage Companies, etc.
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Patient Payment Plan ™ Testimonial
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Innovative Services Patient Payment PlanElectronic Medical Claims Patient Well Care Program
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We Can Help The Doctor See More Patients Automated Cards and letters can be sent out to remind patients of: Appointments Physicals Mammograms Check ups Other Well Care Programs
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Examples of Mailers
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Innovative Services Patient Payment PlanElectronic Medical Claims Profit Recovery Services Patient Well Care Program
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We Can Recover Your Lost Profits We use technology to collect your past due accounts We are NOT a collection agency Collection rate averages 41% of money owed, even after 120 days
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Profit Recovery Letters are From you, on your letterhead Imply Credit Bureau Reporting Mention Collection Agency intervention Suggest Intensive Attorney intervention All payments sent directly to you
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Series of Increasingly Demanding Letters Letters from an Attorney sent when there is no response
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How Can We Help You? Patient Payment PlanElectronic Medical Claims Profit Recovery Services Patient Well Care Program
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