Option 3 The Telecommuting Virtual Assistant Option
-You get a
virtual assistant to bill directly from your office with your software, doing things your way and maintaining all you current
data. If you have the capacity for electronic billing in your software, in many cases we can use the same software that you
have already been using to do your own billing.
-You provide the billing and remote access software. If you choose
to use Office Therapy software, you may choose to have us provide the clearinghouse at no extra charge, which includes Electronic
Remittance Advice. If you choose other software, you provide the clearinghouse and pay the clearinghouse fees.
-If you choose to use Office Therapy software which is designed
especially for therapists, you get a very robust system with information and reports for marketing purposes which are very valuable in
growing your practice and not attainable in a web based service. You also can buy the clinical electronic recordkeeping software, QuicDocs,
to save you additional time and office space. The Office Therapy software is a little more complicated to learn than the web-based system,
but is still not difficult for most therapists and has many more functions. We can use Office Therapy software very efficiently to do your
billing.
-Authorization tracking is included if you choose
Office Therapy software. The contract watch feature can alert you when you have less than three visits left or less than two weeks before
the end date of an authorization.
-For a practice with several providers, this option may be less
expensive than the web-based system.
-You have total control and immediate access to your
database, which resides on your own network.
-You may enter data, make changes, see the data or
print reports or statements at any time.
-With the right software, this option can save you the
most of your precious time. Because of this, for therapists with successful practices, it may be the most cost effective
option.
-Depending on which software and clearinghouse you use,
you can have Electronic Remittance Advice, which can free you from having send every EOB to your
biller.
-If you have multiple computers networked with a network version of
the software, then the therapist, biller and receptionist can all access the software and work with the data at the same
time.
-If you have software residing on only one computer, only one user
can access the data at one time.
-If you already have software and a clearinghouse, there is little
start up cost for this option. If you do not already have software you want to use, an investment in software is
necessary.
Cost Example of the Telecommuting Virtual Assistant Option for a Small Practice 50 visits per month:
You have paid your one time provider set up fee of $100 and you pay a $29.95 monthly fee to the web=based service for unlimited
claims. This month you have done 45 visits with established clients who already have been entered in the system last month and you
have also seen 5 new clients for assessment visits that must be added to the database. A few clients are private pay, most have
primary insurance to file, and 5 visits have secondary insurance to file. We would bill you as follows:
-
$4.75 x 45 = $213.75 (accounting and primary insurance filing)
-
$6.00 x 5 = $30.00 (new patient set up)
-
$4.75 x 5 = $23.75 (secondary insurance filing)
Your monthly invoice for the web-based package would
be $267.50, without any additional
services.
-
If your
average collections are $100 per session, your invoice is
comparable to 5.35 % of
collections . That is less than three of your lost billable hours.
-
If your average
collections are $80 per session, your invoice is comparable to 6.69% of collections. That is less than four of
your lost billable hours.
-
Figure the costs according to our formulu on our
cost comparison page to figure how much money you will save over doing it
yourself.
Cost Example: the Telecommuting Virtual Assistant option for a Therapy Practice 100 visits per month:
You have paid your one time provider set up fee of $100 and you pay a $29.95 monthly fee to the web=based service for unlimited
claims. This month you have done 90 visits with established clients who already have been entered in the system last month and you have
also seen 10 new clients for assessment visits that must be added to the database. A few clients are private pay, most have primary
insurance to file, and 10 visits have secondary insurance to file. We would bill you as follows:
-
$4.75 x 90 = $427.50 (accounting and primary insurance filing)
-
$6.00 x 10 = $60.00 (new patient set up)
-
$4.75 x 10 = $47.5 (secondary insurance filing)
Your monthly invoice for the web-based package would
be $535.00, without any additional
services.
-
If your
average collections are $100 per session, your invoice is
comparable to 5.35 % of
collections . That is less than six of your lost billable hours per month.
-
If your average
collections are $80 per session, your invoice is comparable to 6.69% of collections. That is less than seven
of your lost billable hours per month.
-
Figure the costs according to our formulu on our
cost comparison page to figure how much money you will save over doing it
yourself.
|