By Anil Moses
For a physician, how good it will be, if payment is received immediately after patient's visit?
How wonderful it will be, if your Account Receivables is zero?
How great it will be, if your cash flow can be predicted with 100% accuracy?
As a healthcare provider, after taking all the pains of running the practice, after working very hard in serving the patients is not over-ambitious to think of the above. But what is the reality? Delayed reimbursements and piled up Account Receivables. Is there a way to over come these problems?
Yes, with StatCash billing system from Vision Infonet's medical billing services that is very much POSSIBLE!!!!!! A physician can:
Receive Insurance payments instantly with our StatCash Billing service. Keep AR at Zero, all the time. Make sure that the services are covered, before patient visits. Concentrate on patient care leaving all other burdens to us.
After all, providing Healthcare is physician's primary job.
What is StatCash System?
It is very simple. Serve patients and collect your money, instantly, without any delays, rejections, follow-ups and frustration.
What Vision Infonet does?
They take care of complete RCMS that includes
a) Confirmation of patient schedule: All the scheduled patients are called and their appointment is confirmed. Alternatively, if the patient wants to reschedule or can cancel his/her appointment, the same message is conveyed to the physician's office so that appropriate action is taken and the vacant slot is filled with other patients.
b) Insurance Verification: The insurance eligibility of the patients is verified to make sure that the specific service is covered by the payer. This will help to make sure that the claim is not denied by the payer for non-covered services.
c) Authorization/pre-certification wherever required.
d) Transcription: Medical reports are transcribed from the dictations of the physician.
e) Charge posting is done after proper coding of the visit.
f) We pay you 80% of the expected insurance collection within 48 hours of
the patient visit.
g) We pay the balance 20% within 45 days of service.
h) Sending of statements to patients, for their responsibility part.
i) Further, we provide you with our MDCare EMR/PMS for free for selected clients. MDCare EMR is a web-based, high-end
EMR with all the advanced features including scheduling, templating and charting, billing, POS and AR processing modules.
Example: If you are a physician:
1) For May 15 you have scheduled 30 patients, with no free time slots,
which include 4 procedures that require Authorization.
2) On May 13 we call all patients to confirm/cancel/reschedule their
appointments so that the freed slots can be refilled and all your
30 slots are full.
3) On May 13 we verify the insurance benefits of each patient and caution
about the terminated policies, non-covered services, deductibles etc.
4) We take authorization for the required 4 procedures.
5) On May 15 you will complete serving all the 30 patients with an allowed
amount of $ 10,000.00
6) On May 17, we will pay you $8000.
7) On June 30 you will be paid the balance 2000 by us.
Anil Moses is a post graduate in business administration and is associated with medical transcription, medical billing services and development of MDCare EMR for more than 10 years.
Source:www.isnare.com |
