Tag Archives: a/r

Great news for users of Epic, Mysis Tiger, Mac Practice, and Medisoft PM Software

21 Nov

Not only does Transworld Systems offer the most unique and cost effective solutions for managing a medical practices patient accounts, they now offer an interface with most major medical practice management software packages.  New to the list is:

Epic
Mysis Tiger
Mac Practice and
Medisoft/Lytec

Users of these, and many other software packages/systems can now seamlessly interface with Transworld’s unique 4-stage approach to patient A/R management.  This revolutionary, automated, technology based solutions provides medical practices with the ability to:

1.  Cut internal expenses and staff time spent chasing slow pay and delinquent patient accounts
2.  Speed up cash flow and increase bottom line profits for the practice
3.  Ensure compliance with ever increasing and changing Federal, State and local regulations.
4.  Elminate, or significantly decrease, the need for expensive collection agency fees.

For a brief, no=obligation, demo of these services, to receive a list of all of Transworld’s technology interfaces, or to receive my report, “It’s Only Going To Get Worse: Surviving the Tough New Reallity for Physicians”  please contact me using the form at the bottom of this page, or call me directly at 888-780-1333.

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Dental A/R and Collections

3 Oct

Dental-InfoGraphic-Oct3

Many dental practices are faced with outstanding bills and the issue of collecting on past due payments while trying to maintain patient relationships. There is a solution for you and your dental practice when it comes to recovering past due payments!
Transworld Systems has been helping dental practices and other offices since 1970 with the recovery of slow and past due payments from both patients and insurance companies! Contact me today to find out how we can help you start the road to faster cash flow!

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Docs flock to cloud to save bottom line | Healthcare IT News

6 Sep

Take the time to read this important article.  There is no real choice.  Doctors must upgrade their EMR/EHR, billing procedures and follow-up procedures or face being left behind in the current healthcare market.

Docs flock to cloud to save bottom line | Healthcare IT News.

Outsourcing is critical for a medical or dental practice, or hospital to keep current and make the most of the opportunity they have.  In-house solutions will not keep pace with the changing environment that the medical world faces.

The current reality is:  They must find a cost effective way to motivate insurance companies and, especially, patients to pay them sooner.  I can point you to services that, in most cases, work directly with your software system to help you:

– Cut internal staff time spent on unproductive work

– Cut internal costs associated with insurance and patient account resoution

– speed up your cash flow

– increase your bottom line

– Keep you and your staff in business

Respond to me and I will be happy to explain what tools I can offer you to make this happen in your practice/hospital.  There is no cost or obligation.  Is it worth 20 minutes to find out how to make your practice more profitable?

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The Importance of Cash Flow

5 Sep

Importance-of-Cash-Flow1

 

Cash flow is the life blood of businesses and there are many businesses and practices that have cash flow problems.  Since 1970 Transworld Systems has been working with small and medium sized businesses and practices to improve their accounts receivable and increase their cash flow!

Transworld Systems can improve your accounts receivable and increase cash flow with Accelerator by recovering your money faster!  Contact me  today to learn more about how we can help you!

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HIPAA: How to protect yourself and your practice | Medical Economics

13 Aug

HIPAA compliance is getting more complicated, and more essential.  Is your A/R management or collection agency doing anything to protect you from violations of HIPAA, FDCPA, HITECH, and TCPA?  If not, you may be liable for drastic penalties.

HIPAA: How to protect yourself and your practice | Medical Economics.

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Medical practice executives cite financial management issues as most challenging – MGMA

27 Jun

Medical practice executives cite financial management issues as most challenging – MGMA.

As an MGMA Admini-Serve partner for over 13 years, the tools provided by Transworld Systems are THE best answer to the concerns that medical practices are facing in an ever increasing way.

  • We can help you deal with the new reimbursement models that place financial risk on the practice
  • We can help you better manage your finances
  • We can ensure that self-pay patients, or those with high-deductible health plans pay you sooner and more often.

In 22 minutes, I can help you determine if the tools I can provide will help alleviate these concerns for you and your practice.  I will conduct a brief A/R strategy session at no cost or obligation via phone to help you determine if our tools are a good fit for your practice.

Isn’t it worth a 22 minute investment of time?

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Your A/R is Leaking!

27 Jun

Accounts Receivable depreciate in value.  Everyone knows that the older an account gets, the harder it is to collect.

What they may not realize is the extent that their money is evaporating from accounts that have not yet been collected.  According to the US Commerce Department study indicated by the graph below, accounts over 90 days depreciate at a rate of .5% every day that they are not collected.

By the time an account reaches 180 days, the threshhold at which most businesses and medical practices throw up their hands and assign the account to a collection agency, 70% of the value of the account will never be recovered by anyone.  They have already spent considerable time and money in chasing the account in-house.  That time and money is gone, as is the collectibility of the account.

depreciation schedule

But, there is a better way.  According to the Dartnell Institute of Business, the average cost of collecting a slow-pay account in-house is $31.60 each.  Using an outsourcing partner to do it not only gets the account collected sooner, before it depreciates, but can generally save the business a majority of their cost to do it as well.  Relationships with customers/patients can be retained, cash flow increased, and staff has more time to do productive things, rather than chasing the patients for money.

I ca show you in a 22 minute A/R strategy session by phone if the tools that I use can help your business.  Respond to me via the form below and we can make an appointment to talk briefly.  Isn’t it worth a 22 minute investment to see how much your cash flow can improve?

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Protect Your Office from Embezzlement

20 Jun

Dental office manager sent to prison for embezzlement – DentistryIQ.

Wile we don’t read articles like this one every day, the fact is that practices are being embezzled all the time.  By the time the crime has been identified, it is often too late to recover, and a great deal of money has been lost and the practice hurt terribly.

One of the little-mentioned ways of protecting your office against embezzlement is to use a 3rd party partner to work with your practice A/R.  The earlier you can get a partner involved, the less opportunity there is to hide embezzlement from the office.

Let me show you how to quickly and easily protect your practice from this terrible situation.  It is easier and less costly than you would believe.  Respond to me via the form below and I will call to set up a brief consultation via telephone.  There is no charge, and no obligation.  I’m just glad I can help.

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The most common lies dentists tell themselves – DentistryIQ

15 Jun

The most common lies dentists tell themselves – DentistryIQ.

This is a good article, and I recommend that all my dental clients and friends read it and take it to heart.  There is one lie that dentists often tell themselves that I would like to add to the list:

PATIENTS WILL PAY THEIR BILL EVENTUALLY AS LONG AS I DON’T MAKE  THEM MAD BY ASKING FOR IT TOO AGGRESSIVELY

This is just not true.  Patients who owe you money may be waiting to see how serious you are about collecting the money, or they may not be planning to pay you at all.

Systematic, regular follow-up early in the process (not just a monthly statement) is required for those who either forget to pay or are too disorganized to get your bill paid on time.

Third party impact is necessary for those who don’t believe that you are serious about collecting their money.

Professional collectors are necessary for those few who are “professional debtors.”

Even if you could do some of this in-office, it is not time-effective or cost-effective.  I would like to show you a way to accomplish all of this less expensively than the way you are doing it now, and giving your staff time to do things that actually grow the practice.

Request a brief consultation, via phone, using the form below.  Quite lying to yourself!

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Patient payment responsiblity increases | Healthcare Finance News

11 Jun

Patient Payment Responsibility Increases.

Does this surprise you????

If you have been paying attention these last few years, you already knew this.  It has been steadily going up for a lot of years.  What many doctors and practice administrators don’t know, or aren’t paying attention to, is the result of this increase.

Doctors MUST, perhaps for the first time, figure out how to get patients AND insurance companies to pay them faster.  In many cases, to pay them at all.  To fail to do this quickly is resulting in:

  1. A 10-fold increase in SBA backed loans made to medical practices over the last 10 years.
  2. An unprecedented number of physicians forced to declare bankruptcy, even though they have very busy practices.

This does not have to happen!!  It is foolish and unsustainable.  I can show you, in 22 minutes, how to get more patients paying you, and faster than before as well as speeding up the response time from insurance companies who benefit from dragging their feet before finally sending you a check.  I can show you how to do it for less than you are currently spending to do it the way that you are currently doing it, possibly the reason for the problem after all.

Respond to me via the form at the bottom of this email, requesting a 22 minute A/R strategy session.  It won’t cost you anything and you will know, when we are done, if the tools I recommend will help you put more cash in your accounts than you are currently getting.  Even so, after we are done you are under no obligation to take my advice.

Isn’t it worth a 22 minute phone call?

Patient payment responsiblity increases | Healthcare Finance News.

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