Medical Billing and Cash Flow Services for Medical Providers
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Payment Automation Network Inc. Medical Providers Presentation Please click your mouse to continue to the slideshow. You can press the <ESC> key at any time to quit. Visit us on the web at www.PaymentAutomation.net Payment Automation Network Providing Cash Flow Solutions
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Payment Automation Network, Inc. is dedicated to any doctor who is seeking to increase his or her cash flow using new innovations in technology. In this section, you will find solutions for increasing the amount of money—and speeding up the time it takes to collect money—from both insurance companies and your patients. We provide many services beyond medical billing services and electronic medical claims filing. You will also find information on our Patient Well-Care Program that automatically and systematically follows up with your patients and therefore increases patient retention and billings. Please contact us if you have any questions or if we can be of service to you. •Real-time Electronic Medical Claims Filing and Medical Billing™ •Patient Payment Plan™ •Patient Well Care Plan™ •Profit Recovery Service •Medicare RAC Baseline Audit Service •Why We Are Different www.PaymentAutomation.net
Transcript of Medical Billing and Cash Flow Services for Medical Providers
Payment Automation Network Inc.
Medical Providers Presentation Please click your
mouse to continue to the slideshow. You can press the <ESC> key at any time to quit.
Visit us on the web atwww.PaymentAutomation.net
Payment Automation Network
Providing Cash Flow Solutions
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!
Innovative Services
Patient Payment Plan
Electronic Medical Claims
Profit Recovery Services
Patient Well Care Program
Innovative Services
Electronic Medical Claims
“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…
Problems with Paper Filing
1. SLOWTurn-around up to 58 days
2. High Rejection RateNational Rejection Rate is 35%
3. High CostNational Average of $12 per claim*
* American Medical Association Survey
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
You Have Two Options
1. Invest thousands of dollars in hardware, software, training and support
OR2. OUTSOURCE IT!OUTSOURCE IT!
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
Here’s How It Works
Patient and Claims data is picked up, faxed or entered by office staff
Step Two
Claims are submitted within 24 hours
Medicare/Medicaid
Insurance Companies
Step Three
Payments from insurers are sent directly to you
Final Step
You verify claims status online We invoice you for claims filed
Innovative Services
Patient Payment Plan
Electronic Medical Claims
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!
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?
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!
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.
Patient Payment Plan ™ Testimonial
Innovative Services
Patient Payment Plan
Electronic Medical Claims
Patient Well Care Program
We Can Help The Doctor See More Patients
Automated Cards and letters can be sent out to remind patients of:
AppointmentsPhysicalsMammogramsCheck upsOther Well Care Programs
Examples of Mailers
Innovative Services
Patient Payment Plan
Electronic Medical Claims
Profit Recovery Services
Patient Well Care Program
We Can Recover YourLost 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
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
Series of Increasingly Demanding Letters
Letters from an Attorney sent when there is no response
How Can We Help You?
Patient Payment Plan
Electronic Medical Claims
Profit Recovery Services
Patient Well Care Program
We can help improve your cash flow. Contact us today
www.PaymentAutomation.net
Payment Automation Network, Inc.
Email: [email protected]
Toll Free: (800) 813-3740
