The biggest challenge we have had in the past is how to use today's
technology successfully. At MediClaim of Florida, Inc., we spend a lot of time
and effort to position our staff and company to take maximum advantage of the
technology available today and to improve our services.
Such is the advantage of
using DSL technology, to access via the Internet, our clients' database and
integrate data transmission between your practice and our business. Part of our
future plans are already here, and these include using existing tools in
different ways, such as further automating the process of submitting electronic
data to the practice and vice versa. As data entry becomes a systematic approach
to the systems available today, we continue to train our staff to help them make
better decisions so they can provide better support. We are here to assist your
staff in the process!
When your practice chooses MediClaim of Florida, Inc. as your billing service
company, we suggest to first evaluate your practice current claim system. Your
Superbill, insurance and patient forms, dunning letters, available software
system, computer hardware, peripherals (printers, etc.), and communications
system are all authenticated for harmony. Subsequently, we gather all the
necessary information to incorporate your practice under MCF's service umbrella.
We will eventually, take a look at your carriers to recognize your HMO and PPO
population, verify your bill above procedures, make suggestions, etc. Once we
process that data, we recommend specific services based on that assessment.
There are diverse applications to upload and transfer information between
Practice Management systems and clearinghouses. No billing service has them all.
it would be impossible. The evaluation of your practice reveals the best action
pack to follow.
Under our billing service umbrella, we offer remote access over your DSL
connection. Appointment scheduling, printing reports, access to your patient
database, are just some of the features available with our service. Our data is
your data and access to it is available continuously.
Billing is not a matter of years of experience only. Precisely, it is a
matter of constant training and education of personnel to keep up with the
industry standards and new regulations. Since 1997 we do that; we keep the task.
Along with the best solutions in the market for billing purposes, we offer
accurate claim submission to lower claim rejection rate. This will help you
regain some of that lost cash flow floating around in your office in terms of
denied claims and pending follow ups. We follow with all
How would you compare a reliable billing employee versus
a billing company?
| Skilled Billing Employee |
|
Billing Service
Collects |
| Hourly rate: |
$12.00 / hr. |
|
Based on 6% of collected amount |
| Yearly: |
$24,960.00 |
|
$100,000 billed, then $6,000.00 |
| Employment taxes: |
$1,960.00 |
|
$200,000 billed, then $12,000.00 |
| Unemployment: |
$500.00 |
|
$300,000 billed, then $18,000.00 |
| Year total: |
$27,360.00 |
|
$400,000 billed, then $24,000.00 |
| Comparison: |
$456,000.00 |
|
$500,000 billed, then $30,000.00 |
| |
| To
break even, your practice needs to make close to $500,000.00 n
collected claims yearly.
By then, you may need to add another employee. |
| This
figures are based on estimates only and not necessarily reflect your
particular situation. |
| The employee calculation does not
take into consideration year end bonus, sick days, vacation time,
other personal and extra sick days. It is important to consider
employee preparedness for the job to include, coding experience, job
expertise, certifications acquired for the job, rejection rate,
practice administration knowledge, billing software, support for
that software,
industry awareness, etc. Under a full practice management service,
we engage in setting your practice to actual industry standards to
include HIPAA 5010 compliance, MediSoft Tech Support, software
customization, etc. |
Superbill [non electronic medical records]
Your Superbill should be designed to pick up the diagnosis and procedure
information necessary to assure payment from the carrier. We still recommend
using an Electronic Medical Records application such as
MediSoft Clinical. Patient Information forms
should be designed to capture all the necessary information from your patients
and responsible parties, to match your software use and other standards. Final
Draft, included in advanced versions of MediSoft, may play and important role in
printing information without the need of double entries into the system or any
other application such as a word processor. Is not only critical to know where
to send a claim, but to have the assurance that your service will be paid
accordingly. Having the accuracy of this information the first time, avoids
costly billing services and payment within the expected time-frame.
Once payments are received in your office, you will forward the information to
us. We will in turn, post all carrier payments, copay, cash visits, settlements,
etc. Your reports will reflect all financial activity in any specified period of
time.
Under our billing umbrella, all other services fall-in to include, Phone Tech
Support and MediSoft updates. Upgrades are installed as they become available
with no installation charge. Data upgrade will be performed as well. Superbill
procedures and diagnoses codes updates are included and reviewed every year.
Redesign may be necessary; service is not included.
Electronic Health Records
As a MediSoft ISA Dealer, MediClaim of Florida operate MediSoft Clinical,
McKesson's owned EHR. MediSoft Clinical combines the practice management
features of MediSoft V17 with a fully functional electronic health record at a
price point geared to smaller physician practices like yours. With MediSoft
Clinical, you get the latest in practice automation without a lot of hassle
and at a price you can afford.
Payment Plan for Patients
We leave it up to your practice to extend a patient's balance over a
period of time. On a payment plan, your practice can assess finance charges.
MediClaim will administer the finance process, calculate percentages, apply
those charges, and finally, engage in collection efforts.
A source out of a collection agency reflects that the longer it takes for
an office to collect from a patient, the less probability exits to collect
from those patients. We do not offer payment plan to patients, it is up to
the practice to extend any amount due over an extension of time, to include
allowable service fees and other interest charges allow per law.>
"The grace and power of your business are only as
good as the iron under them. Productivity and performance go hand in hand."
