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Transworld Systems Inc.
Making Cash Flow®
Kelli StahlP: 317.723.3231C: 317.402.8422
Leading Our Industry
• GreenFlag Profit Recovery has been in the business of “Making Cash Flow” for practices of all sizes since 1970
• We have assisted over 200,000 clients in resolving $6 billion in the past decade
• We provide local customer service and support with 100 offices
• Our Commitment:
“To deliver the most progressive and effective
cash flow tools available to our clients”
Making Cash Flow®
Opinions from Experts
Making Cash Flow®
• “In addition to the superior collection rate and speed of recovery, Transworld’s low fees provide the client with a 30% - 70% savings.” - Forbes Magazine
• “Transworld gets credit for the highest recovery rate in the industry.” - Barron’s
• “This company has a collection rate of well over 50%. The typical collection firm only gets 20% and keeps 25%-50% of recovered funds.” - Fortune Magazine
• “Transworld has been an MGMA AdminiServe® Partner for over 10 years. In that time, they have collected $430 million for our members.” – Medical Group Management Association (MGMA)
GreenFlag Profit Recovery is…...
• An AdminiServe Partner of the MGMA
• Sponsored by the AMA
• Peer Reviewed by HFMA
Making Cash Flow®
I’m Sure You Will Agree….
1. The older an account gets, the harder it is to collect2. There is a difference between a casual delinquency and a high-risk
debt3. Consistent and effective follow-up can be challenging & expensive4. Most practices would prefer to never have to use a collection agency
Making Cash Flow®
Challenges & Costs: Internal Follow-Up
Making Cash Flow®
• “The faster you mail an invoice, the faster you will be paid. If your service does not automatically trigger an invoice and statements, establish a set billing schedule, preferably weekly. ” - The Journal of Accountancy
• “Most businesses have their accounts receivable in shambles because they cannot manage their sales and billing on a daily basis.” – SmallBusinessZone.com
• “It costs businesses approximately $31.60 to recover a past due account.” – Dartnell’s Institute of Business
• “53% of surveyed small business owners said they are experiencing cash flow problems.” – Discover Small Business Watch
Placing Accounts is Easy
Making Cash Flow®
It’s easy to submit accounts to us:
• Log on to our secure Online Client Portal (OCP) and submit accounts for any of our services, 24/7
• Upload accounts one by one or in a batch upload format
• View accounts, stop accounts, report payments and pull performance reports all from one easy to use portal
• You remain in complete control
40 Years of Proven Success
Making Cash Flow®
Demand 1 – Diplomatic, Intensive orBad Check
Options
Making Cash Flow®
Demand2
Or Choose A Call
Automated Call:
Hello. This is an important message from Transworld Systems, a debt collection
company. This is an attempt to collect a debt and any information
obtained will be used for that purpose.
We are calling in reference to a letter we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>. When calling please refer to your id code <Account>.
Transworld Systems is a debt collection company and any information obtained will be used for that purpose. Thank you.
Click here to hear a sample of this message.
Making Cash Flow®
Demand3
Driving Urgency
Making Cash Flow®
Demand4
Or Choose A Call
Automated Call:
Hello. This is an important message from Transworld Systems, a debt collection
company. This is an attempt to collect a debt and any information
obtained will be used for that purpose.
We are calling in reference to a letter we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>. When calling please refer to your id code <Account>.
Transworld Systems is a debt collection company and any information obtained will be used for that purpose. Thank you.
Click here to hear a sample of this message.
Making Cash Flow®
Demand5
40 Years of Proven Success
Making Cash Flow®
ThankYou
Letter
Optional Thank You
Letter
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 restricts cash-flow.
GreenFlag Profit Recovery is a revolutionary new tool to assist in the rapid recovery and resolution of these claims.
Symptom: Delay in Claim ResolutionPossible 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
One Stage Approach
Day 1-30
31-60 61-90 91-120 121-150 151-180 181-210
HCFA 1500 or
UB04 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
Typical In House ProceduresInternal Cost $20 - $27/claim
Two Stage Approach
Day 1-30
31-60 60 81 95 109 123
HCFA 1500 or
UB04 Sent
Telephone Calls,
Refiling
Send Tracers
TSI’s First
Demand
(30 day dispute clause)
TSI’s Second Demand
(state statute
reference)
TSI’s Third Demand
TSI’s
National Claims
Manager
TSI’s
Final Demand
in-house
1 - 3
in-house
4 - 6
HIGHEST POSSIBLE RESOLUTION
LOWEST INTERNAL COST
Why GreenFlag Profit Recovery?• Insurance carrier by-laws and internal policies
require immediate response to a licensed third party.
• Our third party demand moves the responsibility for the claim from a clerk to a supervisor, who settles the claim more quickly.
• Our average fixed fee of less than $10.00 per claim allows you to utilize this unique service on claims as early as 30-45 days past-due.
Claims you can submit:• Commercial
Insurance• Managed Care Plans• HMO’S• PPO’S• Medicare• Workman's
Compensation
Remember:
• It is not a matter of if insurance will pay, but when insurance will pay.
• GreenFlag Profit Recovery reduces your internal costs and lowers response time, which works to reduce the age of your receivables.
The results speak for themselves
• A surgical hospital submitted 265 claims totaling $622,000 to GreenFlag Profit Recovery. In 60 days we resolved over $400,000 at a total cost of $2,120.
• A large non-profit hospital assigned 120+ old day claims to GreenFlag Profit Recovery totaling $584,000. We resolved over $385,000 in 75 days.
How do you benefit?• Using GreenFlag Profit
Recovery at 30-45 days allows your staff to focus their attention and efforts on claims in the 0-30 day window. This reduces the number of claims reaching 60 days.
• Quicker resolution of claims means patients get billed faster for their share of the balance, reducing the number of outstanding self-pay issues.