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Payment Automation Network Inc. Medical Providers Presentation

Payment Automation Network Inc. Medical Providers Presentation. Please click your mouse to continue to the slideshow. You can press the <ESC> key at any time to quit. Payment Automation Network Providing Cash Flow Solutions. Visit us on the web at www.PaymentAutomation.net.

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Payment Automation Network Inc. Medical Providers Presentation

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  1. Payment Automation Network Inc.Medical Providers Presentation Please click your mouse to continue to the slideshow. You can press the <ESC> key at any time to quit. • Payment Automation Network • Providing Cash Flow Solutions Visit us on the web atwww.PaymentAutomation.net

  2. Doctors Have a Big Problem Only have two sources of income: • Insurance • Patients And Both Are Usually Slow to Pay… If They Ever Pay at All!

  3. Electronic Medical Claims Patient Payment Plan Patient Well Care Program Profit Recovery Services Innovative Services

  4. Electronic Medical Claims Innovative Services

  5. It’s Not Just You… “Some doctors spend more time filling out forms than taking care of patients.” • Dr. C. Everette Koop, Former Surgeon General

  6. Problems with Paper Filing • SLOW Turn-around up to 58 days • High Rejection Rate National Rejection Rate is 35% • High Cost National Average of $12 per claim* * American Medical Association Survey

  7. The Electronic Solution • Reduced Rejection Rate • Less than 2% • Lower Billing Costs • Save up to 50% by outsourcing • Faster Payment of Claims • Average of 14 days

  8. You Have Two Options 1. Invest thousands of dollars in hardware, software, training and support OR 2. OUTSOURCE IT!

  9. Problems with In-House Electronic Filing • Computer Setup is Complex • Staff Learning-curve is high • Initial Costs are expensive • On-going Costs • New Staff Training • Constant Updates to Software • On-going Support

  10. Here’s How It Works • Patient and Claims data is picked up, faxed or entered by office staff

  11. Step Two • Claims are submitted within 24 hours Medicare/Medicaid Insurance Companies

  12. Step Three • Payments from insurers are sent directly to you

  13. Final Step • You verify claims status online • We invoice you for claims filed

  14. Electronic Medical Claims Patient Payment Plan Innovative Services

  15. Collecting from Patients Can be a Nightmare • The average healthcare provider only collects 49% of what patients owe • Even the patients that DO pay are EXTREMELY SLOW!

  16. How Do YOU Deal With Slow-Pays? • Collection Agency? • Up to 50% of whatever they collect • May damage patient/doctor rapport • In-house Financing? • You become a banker! • Payments trickle in over 60-120 days • Write it off? • How much are you losing each year?

  17. Ask Yourself... What would it be worth for you to get the money that you have already earned ...on the same day of the month, every month… without having to send a single invoice? Our clients will tell you… It’s worth thousands!

  18. Patient Payment Plan ™ Benefits to you… • The ability to to extend credit with assurance of payment • Filters out bad credit risks • Staff can concentrate on patient care • Increases your cash-flow • Process used by… • Insurance Companies • Health Clubs • Mortgage Companies, etc.

  19. Patient Payment Plan ™ Testimonial

  20. Electronic Medical Claims Patient Payment Plan Patient Well Care Program Innovative Services

  21. We Can Help The Doctor See More Patients • Automated Cards and letters can be sent out to remind patients of: • Appointments • Physicals • Mammograms • Check ups • Other Well Care Programs

  22. Examples of Mailers

  23. Electronic Medical Claims Patient Payment Plan Patient Well Care Program Profit Recovery Services Innovative Services

  24. We Can Recover YourLost Profits • We use technology to collect your past due accounts • We are NOT a collection agency • Collection rate averages 41% of money owed, even after 120 days

  25. Profit Recovery • Letters are • From you, on your letterhead • Imply Credit Bureau Reporting • Mention Collection Agency intervention • Suggest Intensive Attorney intervention • All payments sent directly to you

  26. Series of Increasingly Demanding Letters Letters from an Attorney sent when there is no response

  27. Electronic Medical Claims Patient Payment Plan Patient Well Care Program Profit Recovery Services How Can We Help You?

  28. Payment Automation Network, Inc. www.PaymentAutomation.net Toll Free: (800) 813-3740 Email: info@PaymentAutomation.net We can help improve your cash flow. Contact us today

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