CONTACT US






Location

3422 Old Capitol Trail, #660 Wilmington, DE 19808
Phone: +1 516 684 9823

Location

3422 Old Capitol Trail, #660 Wilmington, DE 19808
Phone: +1 516 684 9823

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WE TAKE CARE OF YOUR BILLING
SO YOU CAN TAKE CARE OF
YOUR PATIENT

RESOURCES - FAQ

1. What is Velan’s profile?

Velan Business Solutions, Inc (Velan) is a successful IT & ITES offshore outsourcing service provider with multiple strategic business units offering services to various industry segments including healthcare, IT, accounting, contact center services .

2. What is Velan’s track record?

We have track record services in whole of North America, UK, Ireland in Europe & Australia.

Healthcare Services:

1. How do you receive the files from client?

We receive the files through secure File Transfer Protocol (FTP).

2. Which Billing software are you using now?

We use almost all commonly used softwares like AdvancedMD, AllegianceMD, Kareo, All Scripts, Misys Tiger, Medical Manager, and other popular platforms . We are also making use of some client specific softwares.

3. How will you handle my project?

Trial Period: We have a trial period that will minimize your outsourcing risks. With this, you can evaluate our performance and decide whether you want to outsource your entire project to us.

Project Transition: We implement a ‘Process Knowledge Transfer Methodology' that assures a seamless transition of your project to our offshore base. This will greatly reduce your outsourcing risks.

Project Management: You will have a single point of contact who will be responsible for communication and management of every step of the project.

Customer Relationship: We take and implement regular feedback of the progress of your project.

4. How do you code?

We receive the transcribed report or super bills or charge ticket from our client. The coders will read that information carefully and then an accurate determination of diagnosis, procedures and modifiers is done. Following this, a post coding review will be carried out.

5. What qualifications do your employees hold?

The minimum qualification for recruitment is a college degree. All our employees are college graduates.

6. Do you possess long term viability?

Yes. We are a debt-free company and make sure that we sign agreements/contracts.

7. How do I ensure that my data is protected?

We sign a Business Associate Agreement with the client and a non-disclosure bond with our staff. We know that this is pivotal in reducing outsourcing risks.

We have firewalls/VPN (Virtual Private Network) for inbound and outbound security. Systems do not have external storage devices like CD drives/USB ports, etc.

All our systems and e-mails are password protected. Our cabinets are fire-proof and we use an offsite storage facility to store documents. We have anti-virus softwares installed at both server and client levels. Only bonafide employees are allowed access into our buildings through the badge access system. We also have 24 hour armed security personnel. Surveillance cameras are installed throughout the premises.

8. How do I know what is going on with my practice if I outsource?

Velan Healthcare Services has a customized report for each individual office to suit all of the customer's needs. Alongside, we are providing a report of the daily work done, weekly/monthly consolidated report on analysis, patient demo, charge entry and also on the follow ups we do. Alterations are made as per the client's demands, as additional facilities.

9. How do I sign up a contract or work order?

All you need to do is complete a given format and fax us a signed copy. You can also send us the work order as an e-mail attachment.

10. How much does your service cost?

Our fees vary depending on your specialty and practice size and whether or not you scan your documents. No matter which solution you choose, you will almost surely experience significant savings, and our efficient processing model with overnight services will quite likely result in an increase in your overall collections.

11. Why should I spend all that money on a billing service when I can do it cheaper in-house?

In many cases, a billing service can be more cost effective than in-house billing. Our cost analysis on an "average" two to five doctor practice shows that our costs are comparable to the cost of staffing, office space, office operating expenses, storage, etc for an in-house computer system. In addition, we estimate we can improve collections between 2% to 10% at the "average" practice.

12. How do you charge for medical billing services?

We have two models of fees - Our fees are based either on a percentage of payments collected, for a full service package , or on a hourly basis per seat for AR Follow up services.

13. Are you a collection agency?

No. Velan's Medical Billing focuses strictly on billing and follow-up. However, we pursue delinquent insurance claims and continue to work on them until payment is received. Our procedure is to send three statements to patients with follow-up phone calls. If after the third statement there is no response, we send a 10-day notification letter. At that point, it's up to you to decide how to pursue collecting the balance due, perhaps using an outside collection agency, or a bad debt write-off.

14. What if the patient is on a payment plan?

We'll send as many statements as it takes to get the balance paid as long as there is patient activity on the account.

15. What kind of reports do you offer?

Velan's Medical Billing offers a variety of reports. The standard report package includes comprehensive monthly closing reports that confirm productivity:

  • Amount of charges
  • Insurance payments
  • Patient payments
  • Aged receivables may be printed for each physician, or for each insurance carrier
  • Summary analysis - complete listing of all account balances in the system including zero balances
  • Delinquent reports - includes pertinent information on patient and guarantor, date and last payment. This report may be printed by insurance carrier when more concentrated collection procedures are required
  • Monthly revenue - reports for each physician with month-to-date (mtd) and year-to-date (ytd) charge, payment or adjustment totals
  • Report by location, CPT code, insurance carrier and more
  • Collection reports - reports including patient demographics with itemization of each account are ready for placement (or electronic file transfer) with a collection agency. Automatic change of financial class status and automatic notation to patient comment files is standard
  • Credit balance - listing of accounts with a negative balance for routine refund process
  • Pending claims - report for all claims pending or unpaid sorted by patient or insurance carrier

16. Are there any start-up fees?

Velan does not carry any set up fees or start up costs out to you. The only charges billed to your practice are defined as per the service agreement

17. How often will you invoice our practice?

We will send an invoice at the beginning of each month for medical billing services performed for the previous month.

18. Where do payments go when claims are reimbursed?

All payments go directly to you. We request that you send us a copy of the EOB or verification of payment (check stub) so our records can be kept up to date for patient invoices and adjustments, but you retain complete control of your money at all times.

ICD-10

ICD-10 is the acronym for the International Statistical Classification of Diseases and Related Health Problems,

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ICD-10 STANDARDS

ICD-10 is the acronym for the International Statistical Classification of Diseases and Related Health Problems,

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FAQ

Velan Business Solutions, Inc (Velan) is a successful IT & ITES offshore outsourcing service

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WHY CHOOSE US?

Reduce Cost by
Upto 40%

Reduce Rejected
Claims

Knowledge
Retention

© Copyright 2017 Velan Business Solutions, Inc. All rights reserved | Email: info@velanhcs.com

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