Www.BillingDepot.com Billing Depot New Generation in Healthcare Claims Processing and Outsourcing Solutions “Billing Depot helps the physician spend more

www.BillingDepot.com

Billing DepotBilling DepotNew Generation in Healthcare Claims Processing and Outsourcing Solutions

“Billing Depot helps the physician spend more time with patients,

reduce management overhead, and grow profitability.”

- Dr. Zelik Frischer, Clinical Professor at the Department of Urology at Stony Brook University and three-times named in New York Magazine

survey of best doctors in the Metropolitan Area

2www.BillingDepot.comCopyright © Billing Depot, Inc.

Billing Depot Concept

It is becoming harder to earn a living by practicing medicine because:

• Increasing regulatory scrutiny and compliance requirements

• Growing insurance costs

• Uncooperative payers

In-house billing dilutes focus on health care:– Hire your own staff and manage hiring, training, payroll taxes, HR benefits, vacations, sick days, and turnover– Buy your own software and manage systems setup, downtime, backups, and replacement– Perform complex claim follow-ups yourself

In-house billing is ineffective and inefficient:– Chronically delayed and incomplete payments– Persistently low efficiencies and high processing cost

In-house billing result:– Physicians work longer hours– Collections shrink and slow down– Physicians spent more time on administrative problems

Why outsource billing?– Faster, more precise, and fully compliant payments

• More and better trained personnel with single focus• Better management, e.g., separation of labor, individual tracking• State of the art technology• Business continuity planning (backups, redundancy)• Regulatory compliance

– Lower costs due to economies of scale– Continued improvement because of growing economies of scale– More time spent on health care and less - for administrationWhy outsource to Billing Depot?– Guaranteed productivity– HIPAA compliance– Transparency – full control including ability to observe every claim and intervene throughout the entire process 24 x 7– Competitive cost structure– ZERO upfront investment


Days in AR

Billing Depot performance metric is comprehensive:It measures total payment time from service delivery to the last payment

Days in AR

ServiceDelivery

Claim Created/received at

Biller’s Office

PrimaryPayer Paid

SecondaryPayer Paid

PatientPaid

Billing Stages

Industry AverageDays in AR: 73

Billing Depot AverageDays in AR: 31

Billing Depot reduces actual days in AR with:

• Workflow Management

• Upfront Knowledge-Based Claim Validation

• Specialized Workbenches

• Comprehensive Follow-up

• Rejection

• Aged AR

• Systematic error analysis

• Online 24x7 access to complete process history


Why Traditional Billing takes longer and costs more?

ProviderProviderProvider

BillingOffice

PayerPayerPayer

Notification

SubmissionCorrection

• Single-threaded: Allows only one billing activity at a time• Passive: Waits for the Payer to trigger every billing activity • Relies on Payer to find and communicate errors

• Shields Provider from observing the process

• Creates opportunities for holding claims indefinitely

• Ignores individual accountability

• Depends on manual reconciliations

• Wastes time on multiple notifications and reconciliations


Straight Through Billing

ProviderProviderProvider

PayerPayerPayer

Upfront Quality Control• Validation / Eligibility• Pricing

Follow Up• Scrubbing/Rejection• AR Follow Up

Vericle®Workflow

Charge Entry

Patient Invoicing Collection

Payment Entry

• Provides 100% transparency for the entire process • Multi-threaded - Multiplies channels for systematic corrections

• Identifies majority of errors upfront• Leverages specialized workbenches • Provides 24x7 on-line comprehensive quality reports

• Enables individual accountability•Tracks all claims and prevents losing claims in aged AR• Automatically assigns and tracks follow up action items

• Proactive - Eliminates delays• Manual reconciliations• Notification


Services

• Doctor credentialing

• Enrollments

• Billing

•Patient account and charge entry

•Paper

•On-line

•Scrubbing follow-up

•Rejection follow-up

•Patient invoicing

•A/R follow-up

•Collection

•Payment/EOB entry

• Recurring error analysis


Reports and Interaction Forms

Transparency is a key differentiating aspect of Vericle. Reports are- available 24x7 via Internet browser- interactive- drillable to lowest claim detail and action made

Custom reports are available upon request, usually within 48 hours.

• Billing Process Management

Cash Flow

Status

Workbench

Billing Period Close

Referral Tracking

Productivity

• AR Reports by

visit

payer

CPT

financial class

• Forms

Patient Entry

Charge Entry

On-Line Claim Editing

EOB Posting


Cashflow

Cashflow report shows anticipated cash from past claim submissions

Total Outstanding Amount Collected

Weighted Average AR

Failed Claims

# Active Claims

Instant big picture

% Paid in 45 Days


Status

Real-time Status report show summarize the overall state of the billing process

Interactive reporting drills into specific claim detail for instant error correction


Workbench Workbench shows a queue of personally assigned claims for follow up. The assignment is performed automatically based on specific kinds of errors and attributes of payer, provider, or patient.


Billing Period Close


Referral Tracking


Productivity

Heatmaps show relative under- and over- performance by color shading

Productivity report measures billing effectiveness


AR by Visit

Reports support instant sorting and filtering


AR by CPT - Payer

Reports support export to Excel


AR by Financial Class


Patient Entry


Charge Entry


Online Claim Editing


EOB Posting


Billing Depot Benefits

Better Results

• More Accurate Remittance

• Powerful database for robust audit, drill down, and troubleshooting

• Comprehensive Claim Scrubbing

• New Jersey LMRP rules updated monthly

• CCI rules updated quarterly

• Payer-specific data validation

• Eligibility testing prior to claim submission

• Faster Reimbursement

• Automatic 835 EOB posting for larger payers

• Prompt follow-up for rejections, denials, partial-payments

• Systematic error analysis to continually optimize the billing process

Less Risk

• 100% Transparency and Accountability

• Real-time feedback to physician’s office 24x7

• Full HIPAA-Compliance

• Industrial-strength technology and state-of-the-art data center

• Large pool of certified coders and billers

Lower Costs

• 0 upfront investment

• Competitive fees

Contact 732 845 3433 today for a FREE profitability review

Documents

Www.BillingDepot.com Billing Depot New Generation in Healthcare Claims Processing and Outsourcing Solutions “Billing Depot helps the physician spend more