Why consider outsourcing


Today, more than ever, medical practices need to manage the billing and accounts receivable processes for their practice just like business owners manage their business. It’s simply not enough to just send your claim to the insurance carrier and wait for the payment to arrive. The claim submission process is complex. Employers are frequently changing health insurance coverage for their employees to stem the tide of increasing costs causing eligibility issues. Referrals take more time and further complicate the process. Dealing with these and other paperwork issues can consume the time of the billing and administrative staff of any practice. With these ‘front end" tasks taking so much time to just get the claims out the door, practices often do not have enough time to effectively follow up on unpaid claims. Effective claim follow up can have as much as a 20% impact on medical practices net revenue. That 20% is significant to most medical practices.
Healthcare Transitions Management, Inc. (HTM) offers medical practices an alternative that provides needed support so that physicians and office staff can remain focused on their patients and allows them to team with experts in managing the bottom line. Medical practices, faced with the challenges of decreased collections, increased accounts receivables, increased costs associated with billing, and the peaks and valleys associated with turnover and the constant retraining of staff, can benefit from outsourcing. HTM’s full service outsourced medical billing program is designed to supplement the vital administrative and billing functions of a medical practice. Outsourcing is recognized, in many industries, as the best way to reduce (or maintain) expense levels and gain technological advances and efficiencies without the cost usually associated with them. It also adds a team healthcare professionals to that of the medical practice.
HTM’s full service approach includes: claim entry, primary and secondary electronic and computer generated hard copy claims, patient primary, co-insurance and deductible billing, the handling of all telephone and written inquires regarding claims and billing issues, payment application and deposits, and insurance and patient follow-up on unpaid claims. The needs of all medical practices are not the same. HTM will customize its services to meet the unique needs of each client. Whenever possible, procedures and forms already in place will be utilized. HTM will adapt its protocols to the practice. A terminal can be placed at a practice site to make billing data immediately accessible to office staff. HTM’s services are both comprehensive and flexible enough to fit the needs of each practice.
HTM’s hands on approach to servicing its clients include an assigned Account Executive that serves as liaison between HTM and the practice. The Account Executive is an experienced professional that oversees the billing and accounts receivable management for the practice. They meet with clients on a regular basis to review monthly reports and fine tune the process for maximum efficiency. The Account Executive also provides support to the practice regarding strategic issues such as joining an MSO or PHO, adding a physician or merging with another practice.
The Medical Society of the State of New York (MSSNY) endorses Healthcare Transitions Management, Inc. for any member who can benefit from an outsourced billing approach. HTM services all size practices from the solo practice to multi site, multi specialty and hospital- based practices.
To discuss your billing or other practice management needs call John Riche at 1-631-321-1212.
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