HAS A PRESCRIPTION TO ENHANCE YOUR FINANCIAL HEALTH

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HAS A PRESCRIPTION TO ENHANCE YOUR
FINANCIAL HEALTH
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Outsource your billing Increase
Profitability Maximize Your Revenue Minimize
Audits Accelerate your cash flowYou
outsource your legal, taxes and accounting, why
not your medical billing?
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INCREASE PROFITABILITY

• Increase Revenue
• Reduce Salary and Benefits Expense
• Reduce/Eliminate Software Expense
• Increase Investment income
• Reallocate billing department space

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Maximize Your Revenue

• You can substantially increase your revenue
  without increasing patient encounters. According
  to MGMA the average medical practice is
  underpaid 15 to 25. A professional billing
  company with certified coders can change this.

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MINIMIZE AUDITS

• The best way to minimize the chance of an audit
  is through proper coding. HCFA is now treating
  downcoding as seriously as upcoding. HCFA has
  ruled that downcoding is illegal and subject to
  fines. Providers are required to code to the
  highest specificity. If the goal is accuracy the
  solution is a professional billing staff with
  certified coders.

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ACCELERATE CASH FLOW

• MGSIs Professional Staff and state of the art
  software insure that your claims are clean.
  Clean claims get paid the first time which
  results in accelerated cash flow.

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Questions You Need to Ask Before You
Consider A Billing and Collections Company!
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I am happy with my Staff doing the Billing and
Collection. Why Should I Change?

• Professional certified coders and billing experts
  not only can increase the amount that you receive
  they also can collect it quicker.
• The National average for the time required to
  collect a medical invoice is 90 days.
• MGSIs clients enjoy an average collection cycle
  of 48 days-almost ½ of the national average.
• This means that a typical medical practice with
  1 million annually in collections would enjoy a
  150,000 extra influx of cash.

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I Dont Want to Incur the Additional Expense of
an Outside Billing Company!!

• Practices Outsourcing their Billing and
  Collection Functions Actually can Experience a
  Reduction in Expenses
• Practice should receive cash benefits from
  increased revenue, direct cost savings, and
  interest income/expense, of approximately 2.5 to
  4 times the billing companies fee.

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I Already Own a System, Why Would I Want to
Change to Another!
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• MGSI provides the practice with the latest
  technology at no cost to the practice. MGSI uses
  MISYS/Medic practice management systems that has
  the largest physician installed base in the
  world. 
• The medical practice will no longer have to pay
  its current vendor for maintenance and updates,
  which can run 10,000 or more per year.
• MGSI can accommodate those practices that want
  to use their current systems for scheduling and
  medical records.
• MGSI also uses the latest document imaging
  solutions from E-Bridge Solutions. All billing
  and collection documents are scanned, indexed and
  stored on CD-ROM.

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What Are Some of the Other Benefits ?

• Frees up the Office Managers time so that more
  time is available ensuring that the practice runs
  even more efficient.
• Removes the practice from the Information
  Technology chase as MGSI provides the practice
  with the latest Practice Management Systems at no
  additional cost.
• MGSIs Certified Coders and experienced staff
  review of all doctors notes, encounter forms,
  contractual agreements and coding reduces the
  risk of any Fraud and Abuse Audits and the
  associated cash flow problems
• MGSI removes the burden of the billing
  departments turnover, training, continuing
  education, supervision and fluctuations in the
  volume of work.

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What Will My Annual Benefits Be?

• Per million dollars of annual collections, the
  practice should realize
• One time cash infusion of 100,00 to 150,000
  from reduction of accounts receivable
• Annually between 100,000 to 200,000 in
  increased profitability

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Case Study for ABC Physician Group

• Before MGSI
• May 2000
• Average Monthly Billing 672,527
• Days Dollars
• 0-30 607,254 16
• 31-60 435,305 12
• 61-90 201,689 5
• 91-120 158,870 4
• 121-150 123,520 3
• 151 2,329,188 60
• Total 3,855,827
• 172 Average Days to Collect an invoice

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• BEFORE MGSI
• Overview
• The high average days outstanding was
  resulting in greatly decreased cash flow. The
  practice could not expand quickly, pay bills in a
  timely manner, add new physicians, or acquire new
  equipment.
• Billing Department
• Maintained an in house system that required
  an annual software maintenance agreement. Also
  Data entry was not being done in a timely manner.
• Office Culture
• Tension had been developing between
  office/billing staff and physicians. This was
  due to the type of communication needed to
  successfully fulfill the billing process. This
  caused many frustrating situations and general
  negativity. Patients could recognize this and
  felt uncomfortable.

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Average Collection During First 90 days
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Case Study for ABC Physician Group

• Before MGSI
• May 2000
• Average Monthly Billing 672,527
• Days Dollars
• 0-30 607,254 16
• 31-60 435,305 12
• 61-90 201,689 5
• 91-120 158,870 4
• 121-150 123,520 3
• 151 2,329,188 60
• Total 3,855,827
• 172 Average Days to Collect an invoice
• Average Monthly Billing 675,000

• After MGSI
• Feb 2003
• Average Monthly Billing 1,997,984
• Days Dollars
• 0-30 1,871,106 59
• 31-60 317,081 10
• 61-90 202,579 8
• 91-120 201,421 8
• 121-150 118,511 14
• 151 3,166,256 100
• 48 Average Days to Collect an invoice
• Average Monthly Billing 1,275,000

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• AFTER MGSI
• Overview
• Currently ABC is in the best shape
  financially that it ever has been. They now have
  the capital that has let them take advantage of
  new opportunities such as acquiring cutting edge
  equipment, add new providers, increase the
  provider salaries and move to a new facility.
• Billing Department
• With MGSI supplying all of the software ABC
  has been able to eliminate their software
  maintenance agreement. Data entry is performed by
  MGSI and is current.
• Office Culture
• With MGSI in charge of the billing and
  collection process, communication between the
  office staff and physicians concerning billing
  issues is eliminated. Patients now see and feel
  a friendly environment and referrals have
  increased

• BEFORE MGSI
• Overview
• The high average days outstanding was
  resulting in greatly decreased cash flow. The
  practice could not expand quickly, pay bills in a
  timely manner, add new physicians, or acquire new
  equipment.
• Billing Department
• Maintained an in house system that required
  an annual software maintenance agreement. Also
  Data entry was not being done in a timely manner.
• Office Culture
• Tension had been developing between
  office/billing staff and physicians. This was
  due to the type of communication needed to
  successfully fulfill the billing process. This
  caused many frustrating situations and general
  negativity. Patients could recognize this and
  felt uncomfortable.

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CONCLUSION

• If ABC Physician Group had followed its prior
  billing and collection procedures they would have
  an A/R of 11,500,000 versus the 3,200,000. The
  additional 8,300,000 of cash flow has been used
  for expansion, higher salaries, and a new facility

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Why Should I Choose MGSI as My Billing and
Collection Company?

• Over ½ billion dollars collected
• A/R collection cycle ½ of national average
• 15 years of Service
• Multi-specialty experience
• HIPPA Compliant
• Certified Coders
• Experienced Staff that is continuously updated on
  latest changes
• Nationwide Coverage

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Why Should I Choose MGSI as My Billing and
Collection Company?