medical billing transcription supplier information

Medical A/R Solutions provides increased

data management, automated processing and expanded reporting

capabilities for medical billing software

Transworld Systems Inc., a leader in providing profit recovery solutions to the medical industry, today announced the launch of Medical A/R Solutions, an integrated accounts receivable management software solution from GreenFlag Profit Recovery(SM).

The product enhances data management and automates processing capabilities found in medical billing software to simplify the complicated patient account aging process, and identifies and electronically transfers past due accounts to Transworld Systems Inc. for recovery. With Medical A/R Solutions in place, medical practices can enhance their effectiveness recovering slow-paying patient accounts, accelerate reimbursements from insurance companies, and reduce A/R aging.

Interface Reduces Costs, Expands Medical Billing Software Capabilities

The Medical A/R Solutions data management component saves time and FTE costs by automating the accounts receivable review process.

-- Each user is able to establish unique system parameters to identify accounts requiring attention.

-- Residing on a dedicated PC networked to the billing system database, Medical A/R Solutions copies key data files from the main billing system nightly, analyzes the data, and presents the past due self-pay and insurance accounts in an easy-to-use format.

-- Once accounts have been submitted to Transworld Systems, payments, adjustments, and transfers of responsibility are automatically reported.

-- The user has the option to review the past due accounts individually or send all to Transworld Systems automatically.

Medical A/R Solutions: Unique in its field

Medical A/R Solutions combines a unique combination of features unparalleled in its field:

-- Automates analysis and transmission of accounts to dedicated

profit recovery partner, Transworld Systems Inc.

-- Tracks payments, adjustments and transfers of responsibility

-- Expands medical billing software analysis and reporting

capabilities

Successful Pilot Program Catalyst for Expansion

The Medical A/R Solutions successful pilot program has been in place for 12 months. Since its inception in October 2001, 26 clients have been signed, and $2.5MM has been recovered or resolved at an average recovery/resolution rate of 58%.

"Transworld Systems... Medical A/R Solution has saved our billing staff considerable time by automating ... a manual process of printing and faxing patient financial records to Transworld, our patient collections partner... the system has been successful at producing superior results improving our bottom line via increasing revenue and decreasing overhead."

David F. Kirk, Administrator
Intermountain Orthopedics
Boise, Idaho

"Surgery Inc. was introduced to Transworld Systems in July 2001. Since that time, Transworld has collected over $600,000 for our office in delinquent insurance claims...collection cost was a mere 1%! We were the beta test site for their Medical A/R Solutions interface with The Medical Manager (R) system...the results are astounding and the process is totally automated. It is like having three extra full-time employees on staff! I would recommend Transworld and the Medical A/R Solution interface to any practice that wants to cut costs and improve their accounts receivable."

The current Medical A/R Solutions interface is available for The Medical Manager (R) software billing component only. Future plans to include other medical industry standard billing packages are slated for execution in 2003/2004.

# posted by Medical Information : 3:11 AM