WHAT MED-POS DOES
MED-POS is a benefits calculator designed to provide the out of pocket expenses that should be collected at the point of service.
After inputting the patients' insurance plan(s) (primary, secondary, HSA, Medicare, etc) and benefits (deductible, co-pays, coinsurance, out of pocket max, etc,) the cloud based software will determine the patients' financial responsibility.
A printed copy of the calculations can be furnished to the patient and stored in the patients EMR for future reference.
WHAT THAT MEANS FINANCIALLY
Point of Service collections of patients’ out of pocket medical expenses is rapidly becoming the new norm. The method of collecting a patient's copay, billing the insurance and waiting for the EOB to understand what to bill the patient is no longer viable.
Due to higher deductibles, co-pays, coinsurance and Health Savings Accounts, patient collections now account for 25% of a provider's revenue. As the bad debts rates exceed 36% once the patient leaves the office, that translates into a loss of 10% of total revenues (not including unproductive billing costs).
START USING MED-POS NOW
MED-POS is extremely simple to utilize, cloud based and only requires an internet browser to operate. Initially, the different CPT codes and the contracted amounts for each insurance are stored in a database.
Subsequently, when a new patient appointment is scheduled, the designated office staff inputs the patient's insurance plans and benefits.
At each visit, and for the CPT codes, the program furnishes the amount that should to be collected "up front" at the point of service.
MED-POS Corporate Headquarters
8575 E. Princess Dr., Ste. 117
Scottsdale, AZ 85255
