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Published byNoel McDaniel Modified over 5 years ago
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Solve Your Patient Payment Crisis: 3 Easy Steps to Getting Paid
William Todd Andros Founder & CEO tevixMD Corp.
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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
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Who here believes that if a patient has insurance you’ll get paid?
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Finding Insurance ≠ Getting Paid
Medical bills for 8 of 10 patients with insurance will NOT be paid. SOURCE: tevixMD internal client data
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#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™
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#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
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#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
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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
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tevixMD Demo
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Do you still think you’re getting paid if you find insurance for that patient?
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The Patient Payment Crisis isn’t getting better… Success Requires Time & Commitment
It takes time to unfold a new plan Training, Follow-Up & Adjustments
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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
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