® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag...

® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag logos are registered service marks of Transworld Systems Inc. NYC License No. 1155022

INSURANCE RESOLUTION

PRACTICEA/R

MANAGEMENT

FOR YOUR


Transworld Systems Inc.

Company Overview

• In business since 1970• 60,000+ clients• 100 Offices Nationwide• Recovered $2.4 billion in the last 5 years for companies

across all industries including Fortune 500 & 100 Companies• Success rate of more than 4 times that of the industry

average*• 24/7 Online account management

*Based on ACA Statistics



An MGMA AdminiServe Partner for Over 10 Years• One of only 15 companies in this preferred supplier network



Peer Reviewed by HFMA

After undergoing rigorous review, GreenFlag Profit Recovery was given this prestigious and highly coveted title.

HFMA sfaff and volunteers determined that this product has met specific criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guarantee the use of this product.


What the Experts Say

“The numbers speak for themselves – recovery of over $230 million dollars with a 53% recovery rate and an ROI of almost 4,000% with a collection cost of 2.5%.” Steve Hellebush, VP of Business Development, Medical Group Management Association

“The company has a collection rate of well over 50%. The typical collection firm gets only 20% and keeps 25% to 50% of recovered funds.” Fortune Magazine

“Transworld gets credit for the highest recovery rate in the industry.” Barron’s


Time is Not on Your Side

•80% of all revenue for most hospitals and medical practices comes from insurance claims filed electronically or manually.

•Delays in payment cause frustration and restrict cash-flow.

•GreenFlagSM Insurance Resolution is a revolutionary tool to assist in the rapid resolution of these claims.


Symptom: Delay in Claim Resolution

Possible causes:• Incorrect information• Missing codes, signature, etc.• Money applied to deductible• Insurance checks released to patients• Insurance companies simply holding on

to your money as long as possible• “Claims never received”• Claims held in “Review”


Internal Complications

• Rising internal recovery costs and FTE expenses• Continued depreciation of old claims• Coordination of benefits with primary or secondary provider• Billing staff tendency towards concentration on current

claims after numerous attempts to recover older claims have failed

• Continued restriction of cash flow


Typical In-House Approach

Internal Cost $20 - $27/claim

Day 1-30

31-60 61-90 91-120 121-150 151-180 181-210

HCFA 1500

OR

UB92 Sent

Telephone Calls

OR

Send Tracers

Telephone Calls

OR

Send Tracers

Telephone Calls

OR

Send Tracers

Telephone Calls

OR

Send Tracers

Telephone Calls

OR

Send Tracers

Telephone Calls

OR

Send Tracers

$0.50 $2.75

$1.25

$2.75

$1.25

$2.75

$1.25

$2.75

$1.25

$2.75

$1.25

$2.75

$1.25


Insurance Resolution


GreenFlag Profit Recovery Approach

Two Stage Approach


Insurance Resolution

• Low, fixed fees of $10* per claim allows you to utilize this service on claims as early as 45-60 days past-due

• Increase cash flow, while reducing internal costs

• Expedites response from insurance carrier

• Insurance carriers by-laws and internal policies typically require immediate response to our licensed third party contacts

• Our third party demand moves the claim from a clerk to a supervisor, who in turn settles the claim

• Standardizes insurance follow-up processClaims you can submit:

• Commercial Insurance

• Managed Care Plans• HMO’s

• PPO’s• Medicare• Workers

Compensation


Insurance Resolution Demands - Sample


Why it Works

• We provide the impact of third party for an average of less than $10* per account while minimizing internal efforts

• Complete monthly reporting on all accounts.• Interactive, secure Online Client Portal (OCP)

that allows you to submit accounts instantly.• Return address is from closest debtor office

which is zip code activated. Local impact!• Size changes from mailgram to letter every 10 days.• Return payment envelope & tear off voucher 1st, 3rd

and 5th demands – The only thing we don’t do is lick the stamp!

• FDCPA Disclaimer at bottom of 1st Demand

*Company Average


Convenient Online Access

• Submit accounts online 24/7 via our secure Online Client Portal (OCP)

• You control when to start, stop,or suspend accounts

• Complete reporting on all accounts

• Upload spreadsheets with account information and submit large groupsof accounts instantly

• Easy to learn, helpful tutorials, and superior online support


The Results Say it All!

•A surgical hospital submitted 265 claims totaling $622,000. In 60 days, GreenFlag Insurance Resolution recovered more than $400,000 at a total cost of $2,120.

•A large, non-profit hospital submitted 120-plus day-old claims totaling $584,000 through GreenFlag Insurance Resolution. GreenFlag recovered more than $385,000 in 75 days.


The Results Say it All!

“Since July 2001, Transworld has collected over $2.6 million for our office in delinquent insurance claims with their Insurance Resolution program. The collection cost was a mere .08%! We’re now also using Transworld on our private pay accounts and getting 53% recovery at 3.4% collection cost!” ---Ruby Dust, Administrator, Surgery, Inc.

“Re-directing funds previously spent on in-house collection letters and efforts improved our bottom line by increasing revenue and decreasing overhead.” ---David Kirk, Administrator, Intermountain Orthopaedics



Put GreenFlagSM Insurance Resolution to work for you today!


INSURANCE RESOLUTION

PRACTICEA/R

MANAGEMENT

FOR YOUR

® 2009 Transworld Systems Inc. (Rev 5/09) All rights reserved. The Transworld Systems and GreenFlag...

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