Casual Articles - 5-Step Lockbox Selection for Outsourced Electronic Medical Billing Software and Service

• Reliability Better revenue cycle reliability via elimination of dependency on staff or on billing service for handling checks

• Transparency Lockbox allows bi-directional verification of check deposit between the bank and billing service. Doctor can personally verify deposit 24 x7 via secure Internet connection. No lost checks.

• Billing Efficiency Faster and better controlled submission of secondary claims

• Patient Service Efficiency Simpler and faster resolution of patient account inquiries and disputes

• Added Interest Revenue Automated or semi-automated posting of insurance and patient payments. Check deposit upon arrival. Automated investment of deposit in a Money Market account earning interest (Automatic Sweep). The doctor's money is never idle.

Operation

1. Practice mail arrives directly to the lockbox service

2. Lockbox service

   1. Opens all mail and archives it in a document management system including scanning and indexing for future retrieval,
   2. Makes images available to practice or Billing Service via a secure, encrypted Web site;
   3. Deposits all checks received that day

3. Practice administrative staff has direct access to web-driven interfaces for mail and check queries and reports

Implementation

Lockbox service is typically offered by two kinds of providers:

• Large-scale Vericle-like billing service vendor as part of service
• Specialized financial institution, e.g., bank

Lockbox Selection

1. HIPAA Compliance - Can the service guarantee access only on the "need to know basis" and only to qualified staff? Are all required privacy and security measures in place? Is there a solid disaster recovery capability and process?
2. Quality Assurance Process - What measures are taken to ensure timely error identification, correction, and tracking? Is there sufficient QA process transparency to allow the practice owner complete control of mail and checks? Small Business Networking
   Small business networking is absolutely critical to your business success. As a computer consultant you are in the professional services business. This industry is all about relationships and relationships are built through networking.You will need to make small business networking your priority for the first few months of operations. This is a process that can't be rushed. You're not going to go to your first network event and get six clients nd billing service. Doctor can personally verify deposit 24 x7 via secure Internet connection. No lost checks.

3. Billing Efficiency Faster and better controlled submission of secondary claims

4. Patient Service Efficiency Simpler and faster resolution of patient account inquiries and disputes

5. Added Interest Revenue Automated or semi-automated posting of insurance and patient payments. Check deposit upon arrival. Automated investment of deposit in a Money Market account earning interest (Automatic Sweep). The doctor's money is never idle.

Operation

1. Practice mail arrives directly to the lockbox service

2. Lockbox service

   1. Opens all mail and archives it in a document management system including scanning and indexing for future retrieval,
   2. Makes images available to practice or Billing Service via a secure, encrypted Web site;
   3. Deposits all checks received that day

3. Practice administrative staff has direct access to web-driven interfaces for mail and check queries and reports

Implementation

Lockbox service is typically offered by two kinds of providers:

• Large-scale Vericle-like billing service vendor as part of service
• Specialized financial institution, e.g., bank

Lockbox Selection

1. HIPAA Compliance - Can the service guarantee access only on the "need to know basis" and only to qualified staff? Are all required privacy and security measures in place? Is there a solid disaster recovery capability and process?
2. Quality Assurance Process - What measures are taken to ensure timely error identification, correction, and tracking? Is there sufficient QA process transparency to allow the practice owner complete control of mail and checks? Making Sure You Order Customized Silicone Bracelets With Confidence
   So, your school has this event wherein you will be needing rubber silicone bracelets for tickets. And you need them ASAP. Who do you call?There are a lot of manufacturers of rubber silicone bracelets out there but how will you know if these companies are 100% legitimate. Of course you contact them and let them know what you need but in the end you find out that the company who says that they will produce the rubber silicone wristbands is fraudulentd investment of deposit in a Money Market account earning interest (Automatic Sweep). The doctor's money is never idle.

Operation

1. Practice mail arrives directly to the lockbox service

2. Lockbox service

   1. Opens all mail and archives it in a document management system including scanning and indexing for future retrieval,
   2. Makes images available to practice or Billing Service via a secure, encrypted Web site;
   3. Deposits all checks received that day

3. Practice administrative staff has direct access to web-driven interfaces for mail and check queries and reports

Implementation

Lockbox service is typically offered by two kinds of providers:

• Large-scale Vericle-like billing service vendor as part of service
• Specialized financial institution, e.g., bank

Lockbox Selection

1. HIPAA Compliance - Can the service guarantee access only on the "need to know basis" and only to qualified staff? Are all required privacy and security measures in place? Is there a solid disaster recovery capability and process?
2. Quality Assurance Process - What measures are taken to ensure timely error identification, correction, and tracking? Is there sufficient QA process transparency to allow the practice owner complete control of mail and checks? Reach Out and Grab Your Target Audience by the Shirt Collar - Writing Ads that Work
   Even bad advertising works.But the good stuff works better. In fact, if you have a good concept with good copy, then you don't have to spend as much money on media. While writing ads is a specialty, someone willing to devote some time to doing it well can certainly create an effective ad. Here are some tips.• Your first goal is a good concept. Don't do what everyone else is doing. Remember, you want to stand out, not blend ie;
3. Deposits all checks received that day

3. Practice administrative staff has direct access to web-driven interfaces for mail and check queries and reports

Implementation

Lockbox service is typically offered by two kinds of providers:

• Large-scale Vericle-like billing service vendor as part of service
• Specialized financial institution, e.g., bank

Lockbox Selection

1. HIPAA Compliance - Can the service guarantee access only on the "need to know basis" and only to qualified staff? Are all required privacy and security measures in place? Is there a solid disaster recovery capability and process?
2. Quality Assurance Process - What measures are taken to ensure timely error identification, correction, and tracking? Is there sufficient QA process transparency to allow the practice owner complete control of mail and checks? Why Do Companies Outsource Offshore; Case Study
   So why do so many American Companies offshore overseas? You know the real problem is the over regulation and the over lawyering in the United States. It gets to the point with all the rules and regulations and government agencies screwing with you and people like Elliot Spitzer threatening to do a PR drive bye shooting on your company, stock valuations and such, that it is not really worth dealing with.It is not only about cheap labor, although sha>
3. HIPAA Compliance - Can the service guarantee access only on the "need to know basis" and only to qualified staff? Are all required privacy and security measures in place? Is there a solid disaster recovery capability and process?
4. Quality Assurance Process - What measures are taken to ensure timely error identification, correction, and tracking? Is there sufficient QA process transparency to allow the practice owner complete control of mail and checks?
5. Intuitive User Interface - How many steps are required to find a letter, EOB, or a check? What are mail and check indexing parameters?
6. Batch Interfaces - Is there a convenient way to download all or partial content of the document management system for upload in other systems, such as a billing system, or in alternative lockbox provider facility?
7. Timeframes - How long does it take to open mail, scan it into a document management system, and deposit a check? What is the time horizon for archived image storage? What is the time period for storage of original paper before shredding?

Complexities

Lockbox

• Must be fully implemented - a partial implementation only increases management complexity.
• Adds headache with payers - all payers need to change mailing address, adding error likelihood during transition period.

Lockbox services lower administrative costs, increase staff productivity, and close collection cycles faster. A more efficiently run practice and happier staff mean more satisfied patients.

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.casualarticles.com/article/32766/casualarticles-5Step-Lockbox-Selection-for-Outsourced-Electronic-Medical-Billing-Software-and-Service.html">5-Step Lockbox Selection for Outsourced Electronic Medical Billing Software and Service</a>

BB link (for phorums):
[url=http://www.casualarticles.com/article/32766/casualarticles-5Step-Lockbox-Selection-for-Outsourced-Electronic-Medical-Billing-Software-and-Service.html]5-Step Lockbox Selection for Outsourced Electronic Medical Billing Software and Service[/url]

Related Articles:

Top Web Entrepreneur's Paradox

“Trend following” is a strategy normally associated with trading. You won’t see it associated with Top Web Entrepreneurs. This is surprising. The strategy serves both types of activities quite well. I intend to set the record straight with this article!

Bonsai Marketing

Site location analysis of regional service areas and planning for mobile businesses is just as important as choosing a fixed site for any business. The region must be scouted out whether you are simply adding another service unit or deciding to open an entire new marketing area. Now, assuming that you have decided to go for it and open a new territory, you must send in a scout. BONZAI MARKETING.

Always Test Before You Invest

One of the biggest mistakes businesses make every year is introducing new products into the marketplace without testing to see if the market even wants the product or service. Testing is one of the best ways to be sure you are introducing a new product that people want and at the right price.

Bookmark it: