Billing Depot New Generation in Healthcare Claims Processing

Billing Depot New Generation in Healthcare Claims Processing and Outsourcing Solutions “Billing Depot helps the physician spend more time with patients, reduce management overhead, and grow profitability. ” - Dr. Zelik Frischer, Clinical Professor at the Department of Urology at Stony Brook University and three-times named in New York Magazine survey of best doctors in the Metropolitan Area www. Billing. Depot. com

Billing Depot Concept It is becoming harder to earn a living by practicing medicine because: • Increasing regulatory scrutiny and compliance requirements • Growing insurance costs • Uncooperative payers In-house billing dilutes focus on health care: – Hire your own staff and manage hiring, training, payroll taxes, HR benefits, vacations, sick days, and turnover – Buy your own software and manage systems setup, downtime, backups, and replacement – Perform complex claim follow-ups yourself In-house billing is ineffective and inefficient: – Chronically delayed and incomplete payments – Persistently low efficiencies and high processing cost In-house billing result: – Physicians work longer hours – Collections shrink and slow down – Physicians spent more time on administrative problems Copyright © Billing Depot, Inc. Why outsource billing? – Faster, more precise, and fully compliant payments • More and better trained personnel with single focus • Better management, e. g. , separation of labor, individual tracking • State of the art technology • Business continuity planning (backups, redundancy) • Regulatory compliance – Lower costs due to economies of scale – Continued improvement because of growing economies of scale – More time spent on health care and less - for administration Why outsource to Billing Depot? – Guaranteed productivity – HIPAA compliance – Transparency – full control including ability to observe every claim and intervene throughout the entire process 24 x 7 – Competitive cost structure – ZERO upfront investment www. Billing. Depot. com 2

Days in AR Billing Stages Patient Paid Billing Depot Average Days in AR: 31 Secondary Payer Paid Primary Payer Paid Billing Depot performance metric is comprehensive: It measures total payment time from service delivery to the last payment Claim Created/received at Biller’s Office Industry Average Days in AR: 73 Service Delivery Days in AR Billing Depot reduces actual days in AR with: • Workflow Management • Upfront Knowledge-Based Claim Validation • Specialized Workbenches • Comprehensive Follow-up • Rejection • Aged AR • Systematic error analysis • Online 24 x 7 access to complete process history Copyright © Billing Depot, Inc. www. Billing. Depot. com 3

Why Traditional Billing takes longer and costs more? Submission Correction Provider Payer Billing Office Notification • Single-threaded: Allows only one billing activity at a time • Passive: Waits for the Payer to trigger every billing activity • Relies on Payer to find and communicate errors • Shields Provider from observing the process • Creates opportunities for holding claims indefinitely • Ignores individual accountability • Depends on manual reconciliations • Wastes time on multiple notifications and reconciliations Copyright © Billing Depot, Inc. www. Billing. Depot. com 4

Straight Through Billing Follow Up • Scrubbing/Rejection • AR Follow Up Payment Entry Charge Entry Vericle® Workflow Provider Patient Invoicing Payer Collection Upfront Quality Control • Validation / Eligibility • Pricing • Provides 100% transparency for the entire process • Multi-threaded - Multiplies channels for systematic corrections • Identifies majority of errors upfront • Leverages specialized workbenches • Provides 24 x 7 on-line comprehensive quality reports • Enables individual accountability • Tracks all claims and prevents losing claims in aged AR • Automatically assigns and tracks follow up action items • Proactive - Eliminates delays • Manual reconciliations • Notification Copyright © Billing Depot, Inc. www. Billing. Depot. com 5

Services • Doctor credentialing • Enrollments • Billing • Patient account and charge entry • Paper • On-line • Scrubbing follow-up • Rejection follow-up • Patient invoicing • A/R follow-up • Collection • Payment/EOB entry • Recurring error analysis Copyright © Billing Depot, Inc. www. Billing. Depot. com 6

Reports and Interaction Forms Transparency is a key differentiating aspect of Vericle. Reports are - available 24 x 7 via Internet browser - interactive - drillable to lowest claim detail and action made Custom reports are available upon request, usually within 48 hours. • Billing Process Management Ø Cash Flow Ø Status Ø Workbench Ø Billing Period Close Ø Referral Tracking Ø Productivity • AR Reports by Ø visit Ø payer Ø CPT Ø financial class • Forms Ø Patient Entry Ø Charge Entry Ø On-Line Claim Editing Ø EOB Posting Copyright © Billing Depot, Inc. www. Billing. Depot. com 7

Cashflow Instant big picture # Active Claims Total Outstanding Amount Collected Failed Claims % Paid in 45 Days Weighted Average AR Cashflow report shows anticipated cash from past claim submissions Copyright © Billing Depot, Inc. www. Billing. Depot. com 8

Status Real-time Status report show summarize the overall state of the billing process Interactive reporting drills into specific claim detail for instant error correction Copyright © Billing Depot, Inc. www. Billing. Depot. com 9

Workbench shows a queue of personally assigned claims for follow up. The assignment is performed automatically based on specific kinds of errors and attributes of payer, provider, or patient. Copyright © Billing Depot, Inc. www. Billing. Depot. com 10

Billing Period Close Copyright © Billing Depot, Inc. www. Billing. Depot. com 11

Referral Tracking Copyright © Billing Depot, Inc. www. Billing. Depot. com 12

Productivity Heatmaps show relative under- and overperformance by color shading Productivity report measures billing

AR by Visit Reports support instant sorting and filtering Copyright © Billing Depot, Inc.

AR by CPT - Payer Reports support export to Excel Copyright © Billing Depot,

AR by Financial Class Copyright © Billing Depot, Inc. www. Billing. Depot. com 16

Patient Entry Copyright © Billing Depot, Inc. www. Billing. Depot. com 17

Charge Entry Copyright © Billing Depot, Inc. www. Billing. Depot. com 18

Online Claim Editing Copyright © Billing Depot, Inc. www. Billing. Depot. com 19

EOB Posting Copyright © Billing Depot, Inc. www. Billing. Depot. com 20

Billing Depot Benefits Better Results • More Accurate Remittance • Powerful database for robust audit, drill down, and troubleshooting • Comprehensive Claim Scrubbing • New Jersey LMRP rules updated monthly • CCI rules updated quarterly • Payer-specific data validation • Eligibility testing prior to claim submission • Faster Reimbursement • Automatic 835 EOB posting for larger payers • Prompt follow-up for rejections, denials, partial-payments • Systematic error analysis to continually optimize the billing process Less Risk • 100% Transparency and Accountability • Real-time feedback to physician’s office 24 x 7 • Full HIPAA-Compliance • Industrial-strength technology and state-of-the-art data center • Large pool of certified coders and billers Lower Costs • 0 upfront investment • Competitive fees Contact 732 845 3433 today for a FREE profitability review Copyright © Billing Depot, Inc. www. Billing. Depot. com 21