doctors face several challenges
TRANSCRIPT
Doctor’s are facing several Challenges
• Insurance companies are making it increasingly difficult to collect on claims
• Patients are slow to pay, IF they pay at all
• Private practices are having to close their doors and join large groups, becoming employees due to reduced reimbursements and costs increasing
• Staying up-to-date with new codes and proper coding
• Lack of proper documentation- Audits imminent
• Staff overwhelmed with office chaos
• No patient retention marketing in place
• Practices are being penalized for not converting to EHR
• Practices are being fined for HIPAA breaches
We can cure ALL of these challenges!
Current Insurance Claim Challenges
Slow Payment Turn-around up to 120
days High Rejection Rate
National Rejection Rate is 34%
High Cost National Average of $22
per claim
Solution Reduced Rejection Rate
As low as 2% Lower Billing Costs
Save up to 50% of in-house costs
Faster Payment of Claims Average of 14 days
Challenge
“Some doctors spend more time filling out forms than taking care of patients.”
Dr. C. Everett Koop Former Surgeon General
• FASTER Charting• Chart encounters
using touch, talk (dictation), or typing
• Designed for speed and flexibility
Comprehensive cloud-based Electronic Health Records System
“Physicians typically collect only about 50% of outstanding patient balances, resulting in almost $60 Billion in bad debt annually.”
- McKinsey & Company
Challenge: Patients don’t pay!
• Patients can make payments online 24/7
• Get Paid Faster• Reduce Costs• Increase Patient Satisfaction• Schedule Patient Payments• Automate recurring payment
plans
Collects Patient ReceivablesNot a Collection AgencyLow CostFour times the Average
Recovery RateFully Automated Increases Patient Retention
Current Challenges
• Most doctors can’t keep up with new codes
• Oct 1, 2015 new set of diagnosis codes
Solution• Proper coding by
Certified Coders• Increase
Reimbursements by 30%
Current Challenges
• ALL Documentation MUST match coding
• Ongoing audits from both government and commercial payers
• Physicians subject to being audited anytime
Solution• Offers corrective actions
required for compliance• Implements changes to
stay in compliance• Continuing education• Advises Provider on
underpayments
Challenges •Time wasted searching for files and refilling paperwork
• Time and money lost in re-creating lost documents
• Costs of storing documents in-house or off-site
• No disaster recovery systems in place
Solution
•Save Time •No more time spent filing or retrieving paper files •Access stored files from any computer with Internet access
•Save Money •Eliminates the need for file cabinets and off-site storage
Challenges• Limited time to market
practice• Obtaining new patients• Showing patient
appreciation
Solution• Patient retention
program• Patients are really
customers• Shows patient
appreciation• Potential to increase
patient visits• Increases referrals
Challenges• 79% of Covered Entities fail
their CMS Meaningful Use audit
• 2015, 5% of providers will face mandatory audits by CMS
• 70% of Covered Entities are NOT compliant.
• HIPAA Fines/Penalties are increasing Up to $50,000/incident Up to $1.5 million
Benefits:Designed by Privacy/Security Professionals Easy to use One simple price - No extra costsAutomatic updates of Federal RegulationsCompliance Coaches assist you every step of the
way Cloud Based – No software or IT integration required
We can not only cure these challenges, but
increase profitability!
Do you know anyone that could use one or more
of these solutions?