Practice Solution Plans™ That Match Your Needs

Practice Solution Plans™

MedValent understands the time value of money within a medical practice. As a result, all our Practice Management Solutions™ use processes and systems designed from both a medical and a financial point of view. We are committed to eliminating the costly and time-consuming inefficiencies of insurance billing and collections.

As your strong practice performance partner, the MedValent team focuses on delivering financial systems that increase your practice profits. This is done by lowering your direct and indirect costs and expediting the cycle time from patient to payment, with deposits made directly to your bank.

Our Optimized Practice Performance™ systems deliver solutions that:

 

1. Reduce Administrative Costs (click for more info)

With our Platinum and Gold Practice Solution Plans™, MedValent assumes responsibility for direct billing of patients and electronic billing of third-party payers – our Clients save on administrative, paper, and postage costs for the processing of patient statements and HCFAs.

MedValent stores superbills in HIPAA-compliant secure files, eliminating the need to store them on practice premises.

The MedValent team is highly trained in customer service and will handle your patients' billing questions directly. This reduces your administrative costs in staff and time.

MedValent's practice-management software services are inexpensive, simple to use, and require no significant upfront cash outlay:

  • Our front-office practice management system requires only one Internet-connected computer.
  • With our Application Service Provider (ASP)-based solution, no large networks or servers or maintenance, service, upgrade, or training contracts are needed.
  • MedValent also offers an Electronic Medical Records software module option for its PLATINUM and GOLD Practice Solution Plan™ clients. When your practice is ready to go paperless with EMR, the migration is simple.
  • MedValent can turnkey the installation of computers and Internet connectivity for you, or your practice can use qualified existing computer and high-speed network connections.

MedValent's front-office training program is simple and requires minimal time.

Please contact us today to learn more.

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2. Increase Billing Efficiency (click for more info)

MedValent helps you avoid a major profitability pitfall by doing away with the insurance billing "paper shuffle." Our Practice Solution Plans™ are designed to avoid repeated cycles of insurance billing and re-submissions, unwarranted claims denials, insurance company and patient follow-up, and responses to changes in the law.

Efficiencies are created out of experience. MedValent's co-founders are seasoned professionals with over 50 years of combined experience in medical, business, finance, accounting, and Information Technology. Our MedValent Practice Relationship Managers are highly qualified billing and coding professionals whose broad industry experience ensures smooth front-office efficiency for your practice.

In addition:

  • With our extensive experience with medical terminology, chart notes, and operative reports, we communicate very efficiently between our Clients and third-party payers.
  • Our wide experience with many medical systems and healthcare environments has made us thoroughly familiar with the common procedures and processes used by hospitals, clinics, and small, large, and specialty practices.

Please contact us today to learn more.

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3. Expedite Payment (click for more info)

Here again, MedValent's approach is simple – faster electronic submissions and collections bring quicker payment. In fact, Clients using our practice management system along with Electronic Funds Transfer (EFT) protocols have received processed payments ranging from as little as 3 days to an average of 15 days. If cash flow is a challenge for your practice, don't worry: It's our specialty! Approximately 80% of our electronic claims are paid within 30 days of submission.

Faster submissions. We provide faster insurance payment by using an expertly designed and Client-proven billing system that gives us instant access to information from the shared practice patient database. If we need to correct a claim before submitting it, our internal "claim scrubbing" feature embedded in our software system automatically flags the claim for our coder's attention. Our system also supports electronic fund transfers (EFTs): Rather than waiting for paper checks, your payer funds can be electronically transferred directly to a designated practice bank account.

MedValent constantly pursues its Clients' hard-earned dollars by:

  • Actively monitoring third-party payer delinquency on the 45th day past due
  • Using Certified Professional Coders to ensure that superbills and operations reports are coded correctly from the start
  • Avoiding payer rejections and maximizing appropriate reimbursement for services rendered

Minimal resubmissions. MedValent's practice management system dramatically reduces the need for claim resubmissions: as noted above, our internal "claim scrubbing" feature embedded in our software system automatically flags a claim for our coder's attention before submission.

Urgent attention to delinquent accounts. Our team urgently focuses on closing-out delinquent accounts by:

  • Regularly keeping our Clients up to date with progress of unpaid items listed on management aging reports
  • Utilizing a delinquent-account "hard collection" service for practices with accounts having over 150 days of aging.
  • Typical results: One of our Clients decreased delinquent accounts from an average aging of 120+ days down to 30-60 days, and another Client reduced an outstanding aging report of $1,000,000 down to $200,000 in less than six months.

Please contact us today to learn more.

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4. Are Fully HIPAA Compliant (click for more info)

MedValent's practices and procedures adhere to all guidelines set forth in the HIPAA regulations, and MedValent's HIPAA policy is strictly adhered to by staff in every function of our business. Furthermore:

  • All employees sign Statement of Compliance and Code of Ethics agreements.
  • All patient records are protected while in our care.
  • Any paper with practice or patient information is shredded before we discard it.
  • MedValent coders are certified professionals and members of the American Association of Professional Coders (AAPC).
  • MedValent utilizes state-of-the-art HIPAA-compliant software, upgraded each year for most-current billing capability. All practice data is backed up daily, with backups stored off premises.
  • Our HIPAA policy manual is available for review at MedValent upon written request.
PrivacyHIPAA regulates how protected health information (PHI) maybe used and disclosed. It also provides specific rights to patients and includes administrative requirements to protect the confidentiality of PHI. These regulations affect the health care providers along with their staff and business associates.
TCSTransactions and Code Sets. This part of the HIPAA mandate requires: standardized codes and formats for the electronic transactions between physicians and health plans. Except for physician practices with fewer than 10 full time employees, all physicians must submit their claims to Medicare in this new, standard, electronic format.
NEPNational Employer Identifier. This part of HIPAA will standardize the way employers are identified in electronic transactions. The employer's FEIN (Federal Employer Identification Number) program will serve as the basis for assigning these unique ID numbers.
SecurityThis part of HIPAA requires the establishment of procedures and mechanisms to protect the confidentiality, integrity, and availability of electronic protected health information. Physicians must implement administrative, physical, and technical safeguards for PHI that they collect, maintain, use, or transmit.

The 24/7 ASP software is designed and hosted by, WEBeDoctor« and utilizes the highest levels of security to protect the privacy of the process. All WEBeDoctor« product features are compliant with HIPAA requirements.

Please contact us today to learn more.

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Plan flexibility with available custom options. MedValent offers you a choice of Practice Solution Plans™ to match the needs of your practice:

1. Platinum Practice Solution Plan™ - Full-Service, All-Inclusive (click for more info)

Using MedValent's Optimized Practice Performance™ system, all of your practice's insurance and patient billing, mailings, claims processing, collections, appeals, follow-up and ledger posting are taken care of by financial and medical insurance professionals.

The plan includes:

  • 24/7 ASP Software: Patient Appointment Scheduler
  • 24/7 ASP Software: Patient Ledgers
  • 24/7 ASP Software: Management Reports
  • Front Office Set-up and Training service
  • Optimized Performance Flow Implementation
  • Claim Submission service (electronic and paper)
  • Patient Account Maintenance service
  • Insurance Follow-up and Appeal service
  • Practice Relationship Manager
  • Client Meeting service
  • Practice Consulting services, including:
    • Superbill Design service
    • Coding Audit service
    • Credentialing/Re-credentialing Support service
    • Front-office HIPAA audit service

For service descriptions please contact us today to learn more.

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2. Gold Practice Solution Plan™ (click for more info)

Using MedValent's Optimized Practice Performance system, all of your practice's insurance and patient billing, mailings, claims processing, collections, appeals, follow-up and ledger posting are taken care of by financial and medical insurance professionals.

The plan includes:

  • 24/7 ASP Software: Patient Appointment Scheduler
  • 24/7 ASP Software: Patient Ledgers
  • 24/7 ASP Software: Management Reports
  • Front Office Set-up and Training service
  • Optimized Performance Flow Implementation
  • Claim Submission service (electronic and paper)(1)
  • Patient Account Maintenance service (1)
  • Insurance Follow-up and Appeal service (1)
  • Practice Relationship Manager
  • Client Meeting service
  • Practice Consulting services, including:
    • Credentialing/Re-credentialing Support service

(1) Per statement, per paper claim, per-appeal, and postage paid separately by Client. For service descriptions please contact us.

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3. Custom Practice Solution Plan™ (click for more info)

A number of service modules are available on an à la carte basis, allowing us MedValent to customize a Practice Solution Plan™ to fit the unique needs of your practice. Available services are quoted on a stand-alone basis:

  • 24/7 ASP Software: Patient Ledger module
  • 24/7 ASP Software: Patient Appointments module
  • 24/7 ASP Software: Patient EMR module (assumes ledger or appointment modules in operation)
  • 24/7 ASP Software: Transcription service
  • Insurance Claims Recovery service
  • Front-office HIPAA Audit service
  • Delinquent Account Collection service
  • Patient Demographic Bring-Over service
  • Credentialing/Re-credentialing Support service
  • Web Site design service

For service descriptions and a proposal please contact us.

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4. Start-up Practice Solution Plan™ (click for more info)

Many physicians who are just starting their practice, or are transitioning out of a managed care environment with high levels of back and front office support, commonly need to establish the business and infrastructure side of their practice. Often times, lack of technical expertise, the need to get established quickly, or not having business knowledge and experience can cause delays in getting an independent medical practice established.

MedValent is available to help new, or transitioning physicians establish the business side of their medical practice. After selecting a location for your new practice, MedValent's Practice Establishment services can be available to manage the following items for you as you start-up your practice:

  • Management of US Federal Tax ID number (FEIN) application
  • Management of California State EDD employer number application
  • Management of establishment of Payroll services
  • Management of establishment of Small business Employee Health Benefit plans
  • Procurement and installation of Computers and Networks
  • Management of establishment of Phone and Data service
  • Establishment of credit card processing services and hardware
  • Management of the installation of Phone and Data wiring infrastructure and equipment

Please contact us today to see how we can best service your practice start-up needs. Our IT, and professional experts are here to assist you in making a smooth, cost-effective, and timely transition to private practice. We would be happy to provide you a proposal upon request.

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