warm market slides
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Start with a free practice analysis to increase your bottom line. How doctors and hospital can get more of their money faster 2% rejection rate proven 98% recovery of all revenues. www.medicalbillrecoverysolutions.com more infoTRANSCRIPT
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How Doctors Can GetMore of Their Money,
Faster
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Doctors Have Doctors Have a Big Problema 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 ServicesInnovative Services
Patient Payment Plan
Web-Based Claims Filing
Profit Recovery Services
Patient Well-Care Program
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Innovative ServicesInnovative Services
Web-Based Claims Filing
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Doctors Make MoneyDoctors Make MoneySeeing PatientsSeeing Patients
“Some doctors spend more time filling out forms than taking care of patients.”
Dr. C. Everett Koop Former Surgeon General
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Problems with Problems with Typical Claims FilingTypical Claims Filing
1. SLOWTurn-around up to 58 days
2. High Rejection RateNational Rejection Rate is 34%
3. High CostNational Average of $12 per claim*
* American Medical Association Survey
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The Outsourced SolutionThe Outsourced 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 OptionsYou Have Two Options
1. Invest thousands of dollars in hardware, software, training and support
OR
2. OUTSOURCE IT!OUTSOURCE IT!
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Problems with Filing ClaimsProblems with Filing ClaimsIn-HouseIn-House
•Initial Costs are expensive•Computer Setup is Complex•Staff Learning-curve is high•On-going Costs• New Staff Training• Constant Updates to Software• On-going Support
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Outsourced Claims Outsourced Claims FilingFiling
How it Works – Step How it Works – Step OneOne
Patient and Claims data is faxed into our HIPAA-Compliant online system
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Step TwoStep Two
Claims are submitted within 24 hours
Medicare/Medicaid
Insurance Companies
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Step ThreeStep Three Payments from insurance companies are
sent directly to the doctor
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Final StepFinal Step You verify claims status in our web-based
system and we invoice you for claims filed
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Innovative ServicesInnovative Services
Patient Payment Plan
Web-Based Claims Filing
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Collecting from Patients Collecting from Patients Can be a Nightmare 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 How Do YOU Deal With Slow-Pays?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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Automatic MoneyAutomatic Money
You can have all the money that is owed by your patients
deposited into your bank account
on the same day every month
Without having to send a single invoice.
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Patient Payment PlanPatient 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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Quotes From Dr. Becker’s LetterQuotes From Dr. Becker’s Letter
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Innovative ServicesInnovative Services
Patient Payment Plan
Web-Based Claims Filing
Patient Well Care Program
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We Can Help The Doctor We Can Help The Doctor See More PatientsSee 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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We Do It AllWe Do It All
Full-color greeting and postcards Printed, addressed and mailed to patients
automatically each month
Pre-designed campaigns that you can alter any way you wish
Doctor’s signature printed in blue ink on each card
All for less than what you would pay for just a card
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Innovative ServicesInnovative Services
Patient Payment Plan
Web-Based Claims Filing
Profit Recovery Services
Patient Well Care Program
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We Can Recover YourWe Can Recover YourLost ProfitsLost Profits
We are NOT a collection agency
We use technology to collect your past due accounts
Collection rate averages 41% of money owed, even after 120 days
Fee as low as 5% of collected amounts
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How Do We Do It?How Do We Do It?
Series of letters mailed from you, on your letterhead, suggesting
Credit Bureau Reporting Collection Agency intervention Intensive Attorney intervention
All payments sent directly to you
Collection fees only on money collected
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How Can We Help You?How Can We Help You?It Starts With A
Free Practice Analysis