When outsourcing to a medical billing service, it is imperative
that you ensure the service is not only HIPAA compliant but also has a Compliance Plan which they adhere to
(as outlined by the Inspector General).
Obviously, in this text, we can only refer to the advantages
of outsourcing to I.P.M.S. and speak in general terms based on our experience. Naturaly We can not refer
to any other billing service.
By outsourcing to I.P.M.S., a professional billing and practice
management company, the benefits and advantages would be substantial to you:
- Fast Turnaround of your Insurance Claims – With I.P.M.S. expect between 7 to
14 days on average, from the day your claim is submitted to receiving payment. Most in-house billing is still being
done by paper claims which not only have a high percentage of claim rejections but can also take over six weeks
before being paid.
- Reduced Office Expenses - I.P.M.S. only charge for claims paid at a fixed percentage.
With in-house billing, the physician has the extra cost of stationery, patient statements, envelopes, postage, reference
books, specialized software, the expense of hiring staff and the down-time while they train.
- Decreased Rejection Rate - I.P.M.S. has qualified, experienced and knowledgeable
staff. 98% of all our claims are accepted on first submission. Most physicians do not have such personnel
in their office and because of it, suffer a large percentage of rejected claims.
- Stress Reduction - I.P.M.S. will take the stress off you and your staff by handling
all of your patient’s phone calls regarding their account, allowing your staff to continue with their work - uninterrupted.
- Follow-up - I.P.M.S. performs extensive follow-up on all
your claims. With in-house billing, your staff manages to keep-up with the day-to-day running of the practice. They
rarely have time to follow-up on any outstanding, unpaid claims or to send further documentation to an insurance company
when requested. We call this your "Porsche Drawer!" Have a look at your account receivables and see how much
is outstanding and how much is over three months old. The older the claim, the harder it is to get
it paid. I.P.M.S. does not have this problem. Why? Because we get paid when you get paid and we like getting
- You Stay In Control - I.P.M.S. acknowledge how important it is for
you to stay in control. We work to your guidelines with regard to contacting your patients for any outstanding amounts
due, and unlike many billing services, we do not handle your money. All payments go directly to you!
is Money! - In a nutshell;
I.P.M.S. will do it all for just a fraction of what it costs you to conduct in-house billing.
Outsourcing your billing will immediately reduce your financial expenses dramatically and start increasing your
I.P.M.S. will work with you to
create a package which works to your preferences. We will make the transition period move as smoothly and
as quickly as possible.