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What is the cost of your Medical Billing Service?  |
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MTBC
offers its clientele two equally comprehensive
Medical Billing plans to choose from:
Under the Standard Plan, we charge only
a one-time initial setup fee of $1,000 and
4% of the collected amount of your practice.
This 4% fee includes commercial and government
pays, co-pays, self-pays, capitation payments,
etc. Our service fee is markedly lower than
what it costs you to perform your own medical
billing. (According to the American Medical
Association, an average physician's practice
with in-house medical billing spends 10%
of its $300,000 income on billing related
expenses. MTBC's 4% medical billing can
save your practice up to $18,000 annually!)
Learn More.
Under our Premium Plan, we charge 5% of
collections, and a one-time setup fee of
$500. In addition to all of the services
offered in the Standard Plan, the Premium
Plan offers a toll-free number for patient
calls, as well as patient eligibility verification.
Learn More.
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How are you able to provide your Medical Billing
Service at such competitive rates?  |
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By doing things right the first time, we
are better able to cut costs and maximize
our efficiency. Our state-of-the-art proprietary
software tracks each and every claim through
the entire billing process, thus reducing
the cost of overlooked claims. We also use
cutting edge technology, such as high-speed
scanners, that allow us to receive billing
information from our physicians without
having any of the billing documentation
ever leave their offices. |
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What services do you provide?  |
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The following state-of-the-art services
are included in both the 4% Standard Plan
and our 5% Premium Plan: |
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- Free Electronic Medical Records (EMR)
software
- Real-time financial reporting
- Accurate electronic claims submission
and tracking
- Daily billing and follow-up
- Quick turnaround on payments
- Claims re-submission for finding lost
dollars
Our online services include:
- Secure web-login
- Web accessible patient information
- Online financial reports
- Practice analysis
- Cash Register/IOU
- Customized office forms available online
24/7:
Hospital Superbills
Office Superbills
Registration Forms
Sign-in Sheets
Other great value-added features include:
- User-friendly scheduler to manage your
time and appointments online
- Online Pending Transactions List, to
promptly update missing information.
- The Cash Register/IOU feature provides
customized transaction receipts for funds
collected in the office, while helping
reduce patient billing
- Electronic Remittance Advice (ERA)
- Electronic Funds Transfer (EFT)
- Recovery of lost funds through collection
agencies
The ERA not
only serves to notify you of your payments,
but also simplifies identification of EOBs
or checks misplaced in the pipeline. Timely
filing of claims to secondary insurances
and re-filing of denied or rejected claims
become simpler; while EFT provides for fast,
secure and efficient electronic payments
and collections .saving you the trip to
your bank. |
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What services are included in the 4% fee plan?  |
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Our comprehensive medical billing
services cover all of your billing needs. Our services include electronic
claims submission, insurance follow-up, the appeals process (when
necessary), "soft collection" service for patient billing, etc.
The free EMR is a value added bonus in that it saves your practice
the costs associated with transitioning to an expensive EMR without
sacrificing any features. Also included is secure online web-access
to all of your billing information, from either your home or office,
which is available 24 hours a day and 7-days a week. We also assist
you in setting up your high-speed scanner in your office. |
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What services are included in the 5% fee plan?  |
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In addition to the services
provided under the Standard Plan, MTBC has introduced
several exceptional features in its Premium Plan.
These features include the Online Eligibility Verification,
which is a powerful tool for doctors with which to eliminate the
rejection of claims due to non-eligibility. Used with our Online
Scheduler, the Online Eligibility Verification
system informs you if your patient is covered for the date of service.
If the eligibility is in doubt, you may either request payment of
fees at the time of service, or obtain new insurance information.
Eligibility is also available in real-time so that you may confirm
a new patient's insurance. Either way, you save on the several weeks
it would have taken for the claim to run its natural course. Physicians
who opt for the 5% plan also receive a toll-free number for the
Patient Help Desk. |
What are the benefits of using an EMR?  |
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Although
a fully functional electronic medical record
(EMR) program can cost as much as $25,000,
MTBC provides an its EMR, which includes
all of the features available in expensive
systems, free of charge-no strings attached-to
any practicing physician.
Physicians who use MTBC's integrated EMR
fully incorporate all of MTBC's billing,
transcription, and practice management solutions
into one cohesive package. The services
available in MTBC's 4-by-4 plan, including
4% Medical Billing, 4¢ Medical Transcription,
and now a free EMR, complement one another
as a complete practice management solution.
Our EMR includes modules for automated billing,
scheduling, claims tracking, document management,
fax functionality, prescription management,
template modules, and electronic encounter
documentation, with complete HL7 (Health
Level 7) security compatibility.
The EMR creates a synergy of medical billing,
transcription, and charting solutions in
one comprehensive package and is available
to any practicing physician. Download
the EMR today, and go paperless. |
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What medical specialties do you handle?  |
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We are capable of handling any medical specialty.
We provide medical billing services for
countless medical specialties, including
Ear Nose & Throat, OB/GYN, Pediatrics,
Podiatry, Psychiatry, Pulmonology, Rheumatology,
Radiologic Technology, Family Practice,
Emergency Medicine, Neurology, Orthopedic
Surgery and Internal Medicine.. |
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How would I send my billing information to
you?  |
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There are several ways that a physician
can send billing information to our office.
The most efficient way is to export the
data using our EMR. This allows the office
to electronically document encounters while
creating a paperless office environment.
Another method is a high-speed duplex
scanner, which scans the work to our
servers where it enters our processing stream. |
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How does MTBC communicate with its clients?  |
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Communication
between MTBC and its clients is of primary
importance. Therefore, upon signing the
contract, each physician receives an e-mail
address and secure web-login through www.MTBC.com
to send and receive messages between MTBC's
billing staff and the physician's office.
Our Customer Support staff is also available
at 1.866.266.MTBC to answer questions and
ensure satisfaction while our Patient Help
Desk is available to handle patient inquiries
about bills they receive. |
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How does MTBC file claims?  |
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About 97% of claims are filed electronically
with the insurance companies. However, for
companies that are not currently setup to
receive claims electronically, we use HCFA
forms for claims submission. Most insurance
companies also respond electronically through
Electronic Remittance Advice (ERA), which
informs MTBC and the physician of payments
in the amount of time. |
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How many Direct Submitters does MTBC deal with electronically? |
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Our Direct Submitters are spread across 35 States in the USA. A comprehensive list of these Submitters is available at the following link: MTBC Direct Submitter |
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What is the benefit of filing claims electronically?  |
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Whereas paper claims submission takes 90-120
days, standard electronic claims filing
allows reimbursement from the insurance
companies within 7-21 days. Physicians who
use all of our integrated services to their
fullest capabilities receive payments in
as little as 3-5 days. This drastic reduction
in time is due to the many included features
available in both our Standard and Premium
medical billing agreements, which include
EMR, eligibility verification, ERA, and
EFT. |
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Are there any extra charges for electronic
transmission of claims to the clearinghouse?
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No!
There are no extra charges for electronic
transmission of claims to the clearinghouse.
In fact, there are no extra charges for
any of MTBC's services. At MTBC, we do not
have the standard "module mentality" of
charging physicians on an a la carte basis
for each additional service they utilize.
In both the standard plan and the premium
plan, there is a one time sign-up fee, and
then a low monthly service fee for the life
of the contract. |
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Where
will the insurance companies send the payments?  |
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All checks and EOBs (Explanation of Benefits)
will be sent directly to your office. Since
most insurance companies offer Electronic
Remittance Advice (ERA), electronic versions
of the EOBs, and electronic funds transfer
(EFT), physicians can receive electronic
EOBs and payments far quicker than the standard
paper delivery. This also allows MTBC to
receive electronic notification of payments
through ERA, making the follow-up process
efficient and speedy. For physical copies,
you keep the checks and send us scanned
copies of the EOBs, so that we can perform
effective follow-up.. |
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Do you follow-up on unpaid claims?  |
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Yes. Unless the non-payment is for a valid
reason, such as a deductible, capitation,
no coverage, or duplicate invoice, we reprocess
the claim with any needed additional information.
If the additional information is not available
at MTBC, we will contact your office for
the information. We then follow up with
an appeal if the claim remains unpaid. |
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What is “soft collection” service?  |
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We perform follow-up on patient bills by
sending a series (up to 3) of collection
letters to patients, requesting payment
of the past due amount |
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Can I check my billing status/balance?  |
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You can check your billing status online,
from either your home or office, 24-hours
a day and 7 days a week, through the secured
portion of our web site www.MTBC.com. |
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How long is the set-up process?  |
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We can start the setup process immediately
upon the signing of the contract. Generally,
the process takes 3-7 days for most physicians.
We can give you a more accurate estimate
after reviewing your individual practice. |
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Is there any setup fee?  |
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Under the Standard Plan,
there is a one-time setup fee of only $1,000.
In order for us to process your claims effectively
and efficiently, we go through a very laborious
and time-consuming setup process. This process
includes entering all your patient data
into our system, creating customized forms,
setting up your account with our clearinghouse
as well as assisting you to install your
high-speed Duplex
Scanner. It is important to note that
we do not charge you any hidden fee for
click charges, postage, business reply mail,
etc. You pay only the initial setup fee
and 4% of the collected amount.
Under our Premium Plan,
there is a $500 setup fee.
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Where can patients call for billing questions/inquiries?  |
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Ensuring that your patients are satisfied
with the billing process is extremely important
to MTBC. We have specially trained service
representatives at our Patient Help Desk
to respond in a courteous and professional
manner to patient-billing questions. Under
our Premium Plan, patients
have access to a toll-free number for their
queries. |
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Will I be asked to pay any other costs or
charges?  |
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No, unlike other billing companies, we do
not charge you any additional fee for click
charges, postage costs, forms, business
reply mail, etc. All of these costs are
included in the 4-5% monthly fee. Our goal
is to keep it simple-you pay only the agreed
amount.
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What if there is any information missing from
the scanned work that I send to your office?
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Forms with missing information are uploaded
in a Pending Transactions List (PTL), which
you may access by your secure web login.
When you log in to your account, you will
be able to review and update all the missing
information online, which is instantly imported
into our system, avoiding any delays in
filing your claims. Conversely, in order
to positively reinforce a job well done,
we have formulated a rating system by which
to select and show our appreciation to the
offices that prove to be most efficient
in uploading their daily work to MTBC |
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Are there any System Requirements to use your
billing services?  |
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Yes, you will need a high-speed, Duplex
Scanner to upload your Bills and EOBs,
and an Internet connection to upload your
data to us. |
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