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® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems.

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Presentation on theme: "® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems."— Presentation transcript:

1 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 INSURANCE RESOLUTION PRACTICE A/R MANAGEMENT FOR YOUR

2 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Transworld Systems Inc. Company Overview In business since 1970 60,000+ clients 100 Offices Nationwide Recovered $2.4 billion in the last 5 years for companies across all industries including Fortune 500 & 100 Companies Success rate of more than 4 times that of the industry average* 24/7 Online account management *Based on ACA Statistics

3 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Transworld Systems Inc. An MGMA AdminiServe Partner for Over 10 Years One of only 15 companies in this preferred supplier network

4 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Transworld Systems Inc. Peer Reviewed by HFMA After undergoing rigorous review, GreenFlag Profit Recovery was given this prestigious and highly coveted title. HFMA sfaff and volunteers determined that this product has met specific criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guarantee the use of this product.

5 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 What the Experts Say “The numbers speak for themselves – recovery of over $230 million dollars with a 53% recovery rate and an ROI of almost 4,000% with a collection cost of 2.5%.” Steve Hellebush, VP of Business Development, Medical Group Management Association “The company has a collection rate of well over 50%. The typical collection firm gets only 20% and keeps 25% to 50% of recovered funds.” Fortune Magazine “Transworld gets credit for the highest recovery rate in the industry.” Barron’s

6 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Time is Not on Your Side 80% of all revenue for most hospitals and medical practices comes from insurance claims filed electronically or manually. Delays in payment cause frustration and restrict cash-flow. GreenFlag SM Insurance Resolution is a revolutionary tool to assist in the rapid resolution of these claims.

7 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Symptom: Delay in Claim Resolution Possible causes: Incorrect information Missing codes, signature, etc. Money applied to deductible Insurance checks released to patients Insurance companies simply holding on to your money as long as possible “Claims never received” Claims held in “Review”

8 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Internal Complications Rising internal recovery costs and FTE expenses Continued depreciation of old claims Coordination of benefits with primary or secondary provider Billing staff tendency towards concentration on current claims after numerous attempts to recover older claims have failed Continued restriction of cash flow

9 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Typical In-House Approach Internal Cost $20 - $27/claim

10 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Insurance Resolution

11 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 GreenFlag Profit Recovery Approach Two Stage Approach

12 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Insurance Resolution Low, fixed fees of $10* per claim allows you to utilize this service on claims as early as 45-60 days past-due Increase cash flow, while reducing internal costs Expedites response from insurance carrier Insurance carriers by-laws and internal policies typically require immediate response to our licensed third party contacts Our third party demand moves the claim from a clerk to a supervisor, who in turn settles the claim Standardizes insurance follow-up process Claims you can submit: Commercial Insurance Managed Care Plans HMO’s PPO’s Medicare Workers Compensation

13 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Insurance Resolution Demands - Sample

14 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Why it Works We provide the impact of third party for an average of less than $10* per account while minimizing internal efforts Complete monthly reporting on all accounts. Interactive, secure Online Client Portal (OCP) that allows you to submit accounts instantly. Return address is from closest debtor office which is zip code activated. Local impact! Size changes from mailgram to letter every 10 days. Return payment envelope & tear off voucher 1 st, 3 rd and 5 th demands – The only thing we don’t do is lick the stamp! FDCPA Disclaimer at bottom of 1 st Demand *Company Average

15 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Convenient Online Access Submit accounts online 24/7 via our secure Online Client Portal (OCP) You control when to start, stop, or suspend accounts Complete reporting on all accounts Upload spreadsheets with account information and submit large groups of accounts instantly Easy to learn, helpful tutorials, and superior online support

16 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 The Results Say it All! A surgical hospital submitted 265 claims totaling $622,000. In 60 days, GreenFlag Insurance Resolution recovered more than $400,000 at a total cost of $2,120. A large, non-profit hospital submitted 120-plus day-old claims totaling $584,000 through GreenFlag Insurance Resolution. GreenFlag recovered more than $385,000 in 75 days.

17 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 The Results Say it All! “Since July 2001, Transworld has collected over $2.6 million for our office in delinquent insurance claims with their Insurance Resolution program. The collection cost was a mere.08%! We’re now also using Transworld on our private pay accounts and getting 53% recovery at 3.4% collection cost!” ---Ruby Dust, Administrator, Surgery, Inc. “Re-directing funds previously spent on in-house collection letters and efforts improved our bottom line by increasing revenue and decreasing overhead.” ---David Kirk, Administrator, Intermountain Orthopaedics

18 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 Transworld Systems Inc. Put GreenFlag SM Insurance Resolution to work for you today!

19 ® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022 INSURANCE RESOLUTION PRACTICE A/R MANAGEMENT FOR YOUR


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