Archive for Case Studies

Medical Billing Solution Adds $1.3M Annually to Hospital’s Bottom Line

Medical Account Solutions (MAS): See our company’s first Press Release. The release points to our latest Best Management Practices for Hospitals Case Study outlying MAS Comprehensive Outpatient Billing.

FOR IMMEDIATE RELEASE

Focused Medical Billing Solution Adds $1.3M Annually to NY Inner-city Hospital’s Bottom Line

Through the efforts of New York Medical Billing Firm, Medical Account Solutions (MAS), NY area hospitals may be able to reduce budgets while maintaining, or even increasing, services for patients through more productive follow up of outpatient billing receivables.

Long Island, NY March 13, 2012 – For most hospitals, budget shortfalls aren’t always caused by poor reimbursement from insurers or uninsured patients. In fact, the overwhelming issue for hospitals tends to be the mismanagement of claims processing and payment, along with the inability to manage and train the proper staff to handle the sheer daily volume. These shortfalls can lead to sub-standard treatment and even the closure of hospitals for the patients who need them the most.

“The old methods of managing outpatient medical billing just don’t work anymore”, says Bill Baylis, president of Medical Account Solutions (MAS), a medical billing firm located in Merrick, NY, “the rules for billing are constantly changing and it’s become too complex of a job for the hospital to maintain. Hospitals really need to rethink how they go about pursuing accounts receivables and if it’s in their best interest to go it alone.”

Having identified the core issues regarding the closures of many inner-city hospitals, MAS created a case study over a 5 year span utilizing a hospital in an inner-city setting. “The fact is that these facilities are already running on extremely tight budgets. They can’t afford the level of staffing it would require to employ experts in each type of billing department, but allowing the receivables to build up can lead to closure,” states Baylis. Over the 5 year span in just one hospital, MAS cleaned up 87,789 aged claims that were over 60 days old which resulted in an infusion of over $5.5M. This effort was maintained despite adjustments to hospital administration, which can often derail budgeting efforts. This hospital can now rely on a steady 1.3 million annually to their bottom line through efforts of MAS.

“The volume is there,” says Baylis, “but current systems aren’t getting the money into the hospitals in a timely manner. New systems are needed to capture the money owed to them faster for services rendered. The hospital’s business is to save the patient, but our business is to save the hospital. Let the experts stick to their expertise and things will run more smoothly.”

About Medical Account Solutions (MAS):
Since 1986, MAS has been creating customized billing programs and expert consultation services to precisely fit each of our hospitals’ unique medical billing scenarios. Our over 25 years of expertise allows the hospital to secure payments, both efficiently and effectively. To everyone’s benefit, the MAS approach gets through significantly more claims faster than what our client’s office can do on their own.

Press contact:
Bill Baylis
Medical Account Solutions
(p) 516-348-7282
(f) 516-348-7283
(e) info@yourmedicalbillingoffice.com
www.yourmedicalbillingoffice.com

# # #

Could Streamlining Medical Billing Save $7 Billion a Year? We say yes!

Here is some food for thought from a recent WSJ Health Spot Blog written by Katherine Hobson entitled Could Streamlining Medical Billing Save $7 Billion a Year?

The post highlights a study by a team from Massachusetts General Hospital and its physician’s organization. They examined the time and costs associated with the third-party billing system used in the U.S and calculated that they could save billions by just  streamlining  typical administrative inefficiencies.

The analysis, published in Health Affairs and funded by the Commonwealth Fund and the Robert Wood Johnson Foundation, looked at a large, multi-specialty group of doctors that uses the typical fee-for-service model. They looked at what might reduce some of the administrative burden – specifically, the time spent by physicians and office staff doing paperwork and going back and forth with payers.

“Achieving these savings would not require restructuring the basic market-system tenets of our complex health care system through, for example, mandating a single-payer approach,” the researchers write.

Medical billing companies like MAS have been on the front line of streamlining costs since the 1970’s and is a major reason why our industry has taken off since. Over the years. many doctor groups and hospital have taken advantage of our expertise to increase cash flow, including niche billing skills delivered by MAS,  such as Workers’ Compensation and No-Fault or Ambulance / Emergency Transport Billing.

Another trend that MAS has seen is for clients to use our billing company on a project basis, as with our Third-Party Follow-Up and Trial Balance Cash Improvement programs.  Our team literally becomes an extension of the client’s back office, benefiting them by keeping their office focused on the day to day’s most pressing needs.

What also works well is a contingency billing scale in which healthcare organizations take advantage of a sliding pay schedule that adjusts with need and patient volume. This becomes a win-win when hospital and physician organizations protect bottom line costs while still having a trained staff  available when they need them the most.

There is no doubt the battle in streamlining costs in healthcare is a challenging one. When I read a report like this one I get energized and it reminds me that success can be ours!  By working together and relying on the various industry segments to do their part,  MAS believes that our healthcare industry can save billions. The model is there for us to follow. We look forward to doing our part to streamlining costs– one doctor office, one clinic, one doctor group and one hospital at a time.