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TERM FREQUENTLY ASKED QUESTIONS

General:

Q. Why consider Outsourcing?
A. Medical billing has evolved far beyond simple bookkeeping. Yesterdays' "billing department" now need to have a Compliance Plan, contract negotiation skills, extensive credentialing knowledge, IT expertise and Human Resources skills (to name a few). In today's environment of declining reimbursement, the cost of maintaining and upgrading your billing department has simply out-paced the benefit of having one. For these reasons, outsourcing makes sense. Outsourcing to TERM Billing makes perfect sense.


Q. Why should I select TERM Billing?
A. Members of our Billing and Practice Management team all represent various areas of expertise. Together, we bring a wealth of knowledge to our Clients' which is unmatched in the billing industry. A support staff of over 100 billing experts assures maximum reimbursement in a HIPAA compliant environment. TERM Billing will not only provide the services mentioned above, but will also make sure you are aware of legislative updates as well as provide managed care negotiations, should you desire. We will promise that our desire is to always make you feel as if you are a potential client. Our ‘sale’ doesn’t end with a fancy suit and unrealistic promises and in fact is the reason why our President does our marketing.


Q. What separates your leadership team from other billing companies?
A. A large portion of our annual expenditures are dedicated to industry education. We maintain memberships in several industry and specialty specific trade associations. We also maintain Memberships in MGMA, HCCA, TMGMA, AHIMA as well as stay active in ACEP and TCEP. As part of our Corporate Compliance initiative, our support staff participates in educational offerings from these (and other) associations.


Q. What makes TERM superior to other billing companies?
A. Every billing company processes charges, submits claims and collects receipts, but TERM Billing goes above and beyond. We work with our Clients to identify lost revenue opportunities. Perhaps the ER physician is over or under reporting a specific level of care by deficient documentation. Maybe the hospital's Charge Master is inaccurate. We recognize those deficiencies and report them to the Client. We also believe that service is an essential element that we take pride in providing to our business partners.


Q. What about month-end reports?
A. All month-end reports are available to view and download via secure links from the Term Billing web site. Each client and their designated representatives will be provided a unique password to our site and access is available 24 / 7. In addition to month-end reports, TERM also gives their clients access to several real-time reports via the website.


Q. My practice is a little unique and I may need special reports. How would TERM handle this?
A. In our mind, ALL practices are unique. When a new Client starts up, we spend a great deal of time identifying and addressing those unique needs. It is not at all unusual for TERM Billing to perform some custom programming to satisfy those needs. But it doesn't stop there. We recognize the dynamic needs of each client and adjust our services and reporting mechanisms accordingly.


Q. Will TERM Billing require a contract?
A. Yes. As part of our Compliance Program, we will require a contract. Every billing company should require the same.


Q. How much will it cost?
A. Our charges vary based on a number of variables. We look at your patient mix and specialty. Does this practice have a lot of managed care? How much self pay is involved? Are your fees too high or low? There are many calculations that go into each proposal. Our charge is based upon a percentage of receipts and varies by specialty and the individual Client profile as well as the services requested by the Client.


Q. What software does TERM Billing use?
A. Unlike other Billing Companies, we made a strategic decision to develop our own billing software. We decided the software packages predominantly used by medical practices & other billing companies were cumbersome and their designers were unresponsive. Software change requests were placed in a queue to be available in a future version. We needed a software package which was dedicated to the specific needs of hospital based practices. For that reason we committed a large amount of our time and revenues to the development of our own software, TERMWare.


Q. What is TERMWare?
A. TERMWare is a software package specifically designed to satisfy the billing needs of hospital based practices. We spared no expense in this regard and continually update TERMWare. As a result, we are able to quickly respond to changes in regulations and requests from our clients. In addition, TERMWare gives us the ability to customize our services to meet each client’s needs.


Q. How is this software supported and how can it help maximize my revenues?
A. TERMWare is supported by a dedicated and knowledgeable IS staff. Our IS staff will work with the client to develop a customized interface between their facilities and TERMWare. This interface speeds up the billing process and prevents possible loss of valuable information. This interface is just the first step aimed at maximizing revenues. Our claims and payment processes are HIPAA compliant. These processes improve your cash flow and add revenue to your bottom line.


We constantly modify and improve TERMWare's features and capabilities.
Feel Free to call us or fill out the request for information link on this site for more information about TERM Billing. We'd be happy to review your current Accounts Receivable position and make recommendations. All we need is a little information from you & we can proceed from there.