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With foreword by Kevin McGilloway,
CIO of Lehman Brothers
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In telecommunications, millions of billing transactions must be settled in real time. On Wall Street, trades and all related billing and credit information must be settled within 24 hours. In contrast, almost 18 percent of the average doctor's accounts receivables are more than 120 days old.
Affinity Billing uniquely delivers billing scale and performance designed for trillion dollar institutions at a fraction of their cost, affordable by every medical practice.
Affinity Billing bridges the billing performance differences using a methodology developed at Bell Laboratories and refined at Lehman Brothers. It has provided basis for multiple patents and it has been documented by one of the co-founders of Affinity Billing in a separate book "Mission Critical Systems Management", published by Prentice Hall. It has invariably produced dramatic results in terms of improved performance and productivity and received multiple client endorsements. Click here for an animated review of billing process evolution and its impact on payment distribution.
a. Short-term, our service immediately
reduces your exposure in three major risk areas:
First, we establish a process for continuous improvement
of each one of our mission-critical metrics: senior billing person
subjects the billing process to rigorous measurements and systematic
Quality Assurance. These metrics are updated continuously and
they are available to you 24x7. It is akin to installing a 24x7
heart monitor to every one of your patients and have a continuous
data stream analyzed
and transmitted to a central office. No other service or in-house
function offers such comprehensive measurement and transparency.
Next, our service reduces your exposure on a few billing assistants
employed at your practice. The quality of your payments does not
depend anymore on their mood, motivation, sickness, vacations,
training, etc. Instead, you have now access to 300 billing professionals
that together have a daily exposure to a vastly larger set of
coding and other billing issues.
Finally, our service gives you 24x7 access to state-of-the-art
technology that allows you to analyze
performance of your practice and your billing along multiple dimensions
and identify problems such as under-coding, upcoding, erroneous
submissions,
slow follow up, bad data entry, patient invoicing, etc. Your data
is secure
according to HIPAA standards and it is safe in one of the nation’s
top performance and top security data
center, sharing both space and standards for redundancy and
security with the first-tier financial institutions and hospitals.
You now have a guarantee that none of your claims will be lost
in a drawer.
Note that all of these risks are addressed at no cost for the practice.
b. Long-term, Affinity Billing establishes a comprehensive and transparent workflow that integrates patient scheduling, electronic medical records (EMR), billing, and compliance management. Our service improves your cash flow and revenues, further reduces your risks, and provides you with more time to develop your practice. The process of identifying and implementing major billing improvements takes several months and it never ends because of multiple interacting dynamics in your practice and in the entire industry.
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