MD Practice Analysis Wizard

Most providers do not have a clue as to what they are really paying for claims billing services. The average medical office spends from $8.00 to $12.00+ per claim. With our system, you can process claims for $3.00 to $5.00 per claim, and the provider benefits by receiving their insurance checks within a week or so.

The concept of this application is based on the various direct and indirect costs incurred in processing medical claims in-house, such as:

• Labor Costs including benefits
• Postage, Claim Forms, and Envelope Costs
• Error Processing
• Administrative and Billing Costs
• Rental Overhead
• Time Value of Money
• Systems Upgrades & Maintenance

The Claim Analysis shows calculation results and compares cost per claim if filed manually $7.51 vs. $3.28 if filed electronically through you. This provider is saving $4.23 per claim or $20,304 annually (12 months X 400 claims per month X $4.23 per claims).

ClaimTek's MD Practice Analysis Wizard provides you with the tools to perform effective cost analysis comparisons

When you enter your prospective medical client claims billing data, in just seconds, the MD Practice Analysis Wizard calculates complex equations that clearly show how much the clinic is actually paying for claims billing, and how their costs compare with the national average.

The MD Practice Analysis Wizard allows you to perform analysis that compares billing costs (manual vs. electronic, and in-house vs. outsourcing) in two important ways:

• 1. You can perform a Comprehensive Practice analysis that shows the cost of the whole medical billing operation (complete practice management analysis), OR
• 2. You can produce a Claims-Only analysis report. This report compares the clinic's in-house billing cost to the cost of your service based on claims only.

Both these formatted reports include comparison tables and colorful graphical analysis for visual effect, showing the savings (per claim, monthly and annually) when outsourcing the service to you. These outstanding reports can be printed out on a printer or exported to a Microsoft Word document and inserted into proposals. Additionally, you may calculate these billing comparisons based on several pricing methods: a per claim fee, a percentage fee, or a combination of both.

• Cost per Claim: Graphical comparison of Actual versus Potential claim processing costs.
• Cost of Money per Month: Graphical comparison of Actual versus Potential claim processing costs of money per month.
• Total Cost per Claim/Month: Graphical comparison of Total Actual versus Total Potential claim processing costs for a month.
• Monthly Claims Costs: Graphical comparison of Actual versus Potential monthly claim processing costs.
• Annual Claims Costs: Graphical comparison of Actual versus Potential annual claim processing costs.

To recap, the MD Practice Analysis Wizard allows you to:

• Determine the best pricing strategy for different medical specialties
• Calculate the cost and the pricing of your services based on per-claim fee, percentage fee, or a combination of per-claim and percentage,
• Generate claims-only cost analysis reports,
• Generate comprehensive practice cost analysis reports based on full practice management,
• Export reports to Microsoft Word for additional formatting,
• Include graphical analysis and table cost comparisons for convincing visual effects

Prove to doctors you can save them money by analyzing and comparing billing costs

ClaimTek's MD Practice Analysis Wizard assists you in making vital decisions in your new business:

• Decide what to charge for your billing services within minutes!
• Determine what pricing strategy is best for you and your doctor client: Do you charge based on per-claim fee? Percentage fee? Or a combination of per-claim and percentage?
• Present to your potential doctor clients convincing cost analysis reports about potential savings. This can help you establish more credibility and elevate your professional image among any competition.
• Offering this service can help you greatly in your marketing campaign as far as making appointments and getting your foot in the door.
• ClaimTek has available effective full-color flyers to help you market and benefit from the potential of this software.

Please click on the Marketing tab for more details later.