"How to make Large Hospital Orthotic & Prosthetic Departments Profitable!"
Overcome the unique problems that large organizations face when billing O & P services
Medicare lists Orthotics and Prosthetics as a unique entity
DME and O&P. For an O&P claim to be recognized, the service location must
be home care.
What does that mean to you!
This means that O&P is very specialized and difficult to bill
because it has it's own unique set of codes and modifiers. Large
hospitals bill DME very well, but often don't have the expertise
that O&P demands because of its low volume.
The Problem: Low volume, high ticket claims don’t get collected
Orthotics and Prosthetics produces sophisticated custom items
primarily utilized in rehabilitation. In the hospital setting, it’s
a misunderstood department earning far below its potential, and
carried only by necessity. Due to the very nature of Orthotics and
Prosthetics, the ticket cost is high, but total dollar volume is low
(usually less than 0.4% of a hospitals total dollar volume) making
it very difficult to maintain an efficient billing group. In essence
its expensive claims on a low budget, claims that do not even fit
governmentally as either medical, hospital or as durable medical
equipment. Collecting expensive O & P claims requires specialized
skills, acquired from years of experience billing a large volume of
O & P Claims. There is simply not enough profit in the large
hospital to maintain these specialties. The result is claims often
fall through the cracks or pay substantially less than they should.
The Solution: Treating your O & P department as if it were a private practice!
Yes, that’s right, treat the O & P Department within your
hospital just like your own private practice. A practitioner in a
successful private practice can’t afford to lose one dime from a
claim. Private practices must bill and collect claims in a timely
and efficient manner. Otherwise they won’t be profitable. Some very
successful offices have realized they couldn’t maintain these
specialized skills and moved to outsource their billing functions.
Relieved of these supervision and staffing problems, they
concentrate on making their practices profitable. Confident in a
reliable, improved cash flow, supplied by a turnkey operation, with
experienced staff. Cost is now based on a percentage of the claims
collected, which is equal or less than on site staff and associated
overheads.
Take Action: See how easy it can be!
CPO Services was established to do one thing, “Bill O & P claims”
quickly and accurately, to maximize every dollar. CPO Services is
the only company that solely bills orthotics and prosthetics on a
national basis and provides a turnkey operation to solve O & P
billing difficulties in a coordinated manner. We have the
skilled staff to get the most money collected on each claim. Our
expertise allows us to manage patient billing, prepayments and
installment plans so that you can bring deductible write offs back
under control and recover lost income. CPO Services can make a
non-profitable O & P facility profitable and a profitable one even
better.
Our track record speaks for itself. We have worked with
many private offices and have watched them increase their income
year after year. This is directly attributed to our collection
efficiently. Instead of supervising billing they spent time on
practice growth and patients. The result, their growth rate shot up.
CPO Services delivers proven results. Many of the private
practice offices that decided to utilize our services had extensive
problems with their billing, some were close to bankrupt. Because we
were able to collect on their accounts receivable quickly no office
went under financially. All showed immediate income increases, some
higher than 20%.
Perhaps the most persuasive proof lies in startup practices
we serve. Our methods of billing are new to the Orthotic and
Prosthetic field and new startup practices have been very quick to
recognize its usefulness. We are the billing department of several
startups who can attribute part of their success to having an
efficient billing department. The national average for failure of
new O & P practices is over 50%. Practices that start with us see a
failure average under 5%. Most practices take 5 or more years to be
comfortably stable. Ours often took a vacation in 2.
Large Hospitals: Benefit Even More
Contract negotiation with insurance companies, you will finally
have accurate figures to work with. Especially in today’s rapidly
changing market.
The sophistication of prosthetics, increasing dramatically
focusing today’s technology on the demands of overseas casualties
this sophistication is rapidly spilling into the private sector. You
will be competing with the private sector to obtain and retain
personnel. We give you the refined financial data to make accurate
decisions about the value of your personnel in a rapidly changing
competitive environment.
A dramatic improvement is for your social services
department. Interdepartmental notes are built into our processes
which results in an automatic dossier explaining how all payment
avenues for a patient were exhausted. Your social services
department automatically has all the information they need at their
fingertips to obtain alternate patient financing.
Contact us today for more information!
Outsource your O & P Departmental billing and collections to CPO
Services. We will clean up your outstanding claims and efficiently
process your new claims so you can realize more profit.
Call for your free consultation with a 30 year O & P
Veteran that has seen firsthand many of the issues you are dealing
with today.
Contact: John Dolza
Phone: (810) 629-6424
Email: john@oandpoffice.com