Cloud based software to calculate patient financial responsibility, streamlining the implementation and collection of out of pocket expenses (deductible, co-pay, co-insurance) at the point of service
POS collections compress the billing cycle, increase revenue and decrease billing overhead.
Upfront financial transparency improves billing interactions with patients, reduces "no-shows" and deferred procedures.
A customized database contains all the contracted insurance plans and rates for your CPT codes.
The database is updated periodically and can be cross checked with actual EOBs.
When patients schedule, the benefits staff interfaces with their insurance and follows a preset sequence of questions to input their coverage parameters (deductible, co-pay, co-insurance, etc.) as they apply to each CPT code.
MED-POS calculates the patient's financial responsibility or out of pocket expenses.
The patient is informed prior to their appointment and arrangements are made for collecting up front.
MED-POS elminates a potential 10% overall revenue loss by calculating the out of pocket expenses due at the point of service while simultaneously streamlining the billing process and reducing overhead.