Copyright © 2009 Waiting Room Solutions Billing Training: Patient Statements II
Copyright © 2009 Waiting Room Solutions Review of Previous Concepts Patient Statements and Money Owed 1.Collecting Patient Owed Money is Best Done in Office 2.Earlier = Better 3.Efficient System for Delivering Patient Statements 4.Efficient System for Handling Unpaid Statements
Copyright © 2009 Waiting Room Solutions Automated System for Delivery of Patient Statements 1.System automatically sends monthly patient statements 2.Statements are electronically sent to clearinghouse to be printed, placed in envelope, stamped and mailed 3.System rules determine how many statements to be sent and based upon minimum dollar threshold 4.System rules determine when patients are liable for pre- collections or collections status
Copyright © 2009 Waiting Room Solutions Cost/Statement Automated Process $.65/statement
Copyright © 2009 Waiting Room Solutions Cost Savings 1.Postage Cost: $.44/statement 2.Labor Cost: $.30/statement 3.Printing and Supply Cost: $.22/statement 4.Equipment Cost: $.04/statements Total: $1 /statement
Copyright © 2009 Waiting Room Solutions Benefits of Automated Process 1.Cost 2.Reliability of process 3.Rules determine when a statement is sent 4.Rules determine timing of escalation 5.System can be audited and reviewed
Copyright © 2009 Waiting Room Solutions Setting Up Patient Statements
Copyright © 2009 Waiting Room Solutions Patient Statement Reports
Copyright © 2009 Waiting Room Solutions Pre-Collections through Transworld Rationale 1.Unpaid patient statements are unlikely to be paid by additional repetitive statements 2.Third party intervention helps collection process 3.Series of escalating letters sent at 2 week intervals 4.Less expensive than Collections 5.Respects the provider-patient relationship 6.Separate contract with Transworld at cost of around $11
Copyright © 2009 Waiting Room Solutions Pre-Collections Process 1.Account becomes available for pre-collections after unpaid patient statements. 2.Based upon automatic or manual review process, files are sent from WRS to Transworld 3.Series of 5 escalating letters sent at 2 week intervals over a 10 week period 4.If no payments are made then it becomes available for the collections process
Copyright © 2009 Waiting Room Solutions Patient Responsibility Status Levels 1.Patient Responsibility – patient statements 2.Pre-Collections – escalating letters 3.Collections – legal letters and intervention
Copyright © 2009 Waiting Room Solutions Changing from Pre-Collections Status 1.If ANY Payment received. 2.If NO Payment received. 3.If account balance is $0
Copyright © 2009 Waiting Room Solutions “Liable for” filter 1.Should be performed on a monthly basis to advance accounts or stop collections process 2.All 3 status levels should be viewed 1.Patient Responsibility 2.Pre-Collections 3.Collections 3.Action can be taken in Transworld portal
Copyright © 2009 Waiting Room Solutions NA