Partner with IAA: Billing Solutions

IPMS offers a wide range of billing and collections services to save you time, money and effort. Below is a list of the services our company has to offer you. Click on each service to learn more.

IPMS submits electronic claims within 48 hours of receipt of physician charges. We focus on front end billing, assuring complete and accurate submissions. Payer fee schedules for all participating carriers are obtained and pre-entered into our billing system to immediately flag any payment discrepancies (i.e. underpayments, incorrect bundling of codes, etc.). Our client-specific teams of experienced and knowledgeable Medical Reimbursement Specialists provide thorough follow up on all accounts utilizing key IPMS reports, capturing every penny of revenue you’re entitled to. The bottom line is that IPMS will turn the services you provide into the reimbursement you deserve, both timely and effectively.

Our staff completes all of the necessary credentialing and privileging services, on behalf of our clients, to establish and maintain participating status. This service greatly reduces the time that our clients spend completing paperwork.

Compliance: Our staff achieves the highest standards of quality and accuracy to ensure each claim we process is complete and correct.

• Dedicated compliance committee
• Standards of business ethics and conduct
• Written policies and procedures
• Compliance training program
• Confidential discloser program
• Coding compliancy program
• Continuing employee education programs

Billing and Collections: Our staff maximizes reimbursements for profitable operations through timely billing and thorough patient account follow-up.

• Electronic demographic interface
• IPMS scanner installed
• Experienced Account Manager
• Dedicated staff of medical reimbursement specialists
• Certified coders, physician education and coding feedback
• Charges billed within 48 hours of receipt
• Electronic billing edits received within 24 hours
• Allowables pre-entered into billing system
• Payments, denials, correspondence posted within 48 hours of receipt
• Electronic storage
• Denial report
• No response report
• Follow-up report
• Direct month-end report(s) to client
• Unlimited custom reports upon request
• Monthly meeting with Account Manager

Managed Care Contract Review: Our expert Account Managers review payer contracts and negotiate with the various insurance companies to obtain optimum reimbursements. We work closely with the client, aggressively advocating on their behalf.

• Contract review
• Fee Schedule/Allowables
• Payment policies
• Non-covered services
• Effective date tracked
• Terms and termination
• Top billed procedures
• Reimbursement analysis
• Direct payer relationship vs. IPA/PHO relationship
• Strategic approach

IPMS retains a department of Certified Coding Professionals. Our coders are adept at coding, analyzing and auditing of documentation relating to all specialties. Numerous resources, both conventional and technological, are skillfully utilized by the team for code assignment. The result is clean and compliant claims that get quickly turned around by the payers. IPMS offers comprehensive coding, billing and compliance audits based on client needs and preferences.

IPMS comprehensive audits identify compliance risk in the following areas:

1. Coding
2. Billing practices
3. Documentation

IPMS Auditors are available to:

• Conduct thorough audits to assure practice is accurate and compliant with government guidelines
• Provide RAC or other Payer Audit assistance
• Provide permanent coding support – be an extension of your staff
• Provide temporary coding support for clients with employees away on medical leave or vacation

RAC Audit Support

• Prevention: IPMS will perform a singular or regular post payment audit for your practice using industry standard auditing techniques and templates.  This will identify areas of risk.
• Defense: IPMS auditors can review your government audit with a view to defending your claims against documentation on file.  Any audit by an insurance carrier can have serious repercussions and should be approached with due consideration.

IPMS Coding & Billing Audits cover such areas as:

• Under or Over Coding or other billing risks
• Correct modifier assignment
• CMS billing rules
• Under documentation
• Time based coding
• CMS surgical global periods
• Incident To Rules
• Shared Visit Rules
• HIPAA
• NCII Edits – appropriate application of bundling rules
• Consults vs. Referrals
• New vs. Established patients
• 1995 vs. 1997 E&M Guidelines
• Utilize CMS table of risk in assessing E&M
• Audit E&M levels assigned appropriately – no up or down coding
• Determine Bell curve for E&M
• Place of Service accuracy
• PQRI opportunities
• Review Teaching physician guidelines when relevant
• Check diagnoses for medical necessity
• Assess PA billing practices
• Review OIG Workplan for current year

NOTE: IPMS Auditors are fully credentialed with the American Academy of Professional Coders.

Medical practices, hospitals and related medical services frequently request IPMS to provide distinct consultations that focus upon business development, enhancement of profitability, areas of operational concern, and reduction of potential risk from third party reimbursement audits. IPMS utilizes our depth of staff expertise and industry experience to effectively scope, execute and deliver highly valued projects, which can immediately result in favorable and tangible outcomes.

IPMS Consulting Services include the following areas of expertise:
Medical practices, hospitals and related medical services frequently request IPMS to provide distinct consultations that focus upon business development, enhancement of profitability, areas of operational concern, and reduction of potential risk from third party reimbursement audits. IPMS utilizes our depth of staff expertise and industry experience to effectively scope, execute and deliver highly valued projects, which can immediately result in favorable and tangible outcomes.

• Collection Processes and Effectiveness
• Managed Care Contract Assessment
• Medical Coding/Compliance
• Financial Planning/Management
• Human Resource Support and Management

Expert support for medical provider defense against 3rd party “pull-backs”
As government and private payers significantly expand their efforts to seek financial “pull-backs” from medical providers through coding and payment audits, IPMS has been called upon by physicians, attorneys and accountants to defend against these “pull-backs”. Third party coding audits are highly technical. IPMS has successfully assisted clients in significantly reducing or eliminating “pull-backs”. In concert with these efforts, our medical coding audits significantly reduce the risk of third-party audit “pull-backs”. Our educational functions have a direct impact upon improving coding processes, assuring that documentation precisely/correctly supports physicians’ coding decisions, and delivers ongoing updates that physicians incorporate into their day-to-day coding-documentation-billing functions to maintain audit risk reduction.

Contact IPMS to discuss specific projects needs and requirements. We will work together with you to accurately define the span and scope of distinct projects and/or services that deliver the information and value that is required in today’s complicated and quickly changing healthcare environment.

IPMS provides the financial expertise that is essential to fully support the requirements of operating medical practices. Staffed by professionals including MBA’s with extensive experience in medical practice financial management, IPMS delivers services that assure compliance with financial laws and guidelines. When integrated with IPMS’s core medical billing services, the outcomes for medical practices include lower operating costs/overhead that results from benefits of heightened communication and information sharing that is the foundation of these key support functions.

Cash Management

• Monitor Cash Balances Daily and Determine Cash Requirements
• Transfer Funds
• Execute Line of Credit Advances and Paydowns
• Process Manual Deposits using Online Banking Remote Deposit Feature
• Manage Lockbox Deposit Process
• Reconcile Patient Revenue per Cash Account to Billing System
• Manage Merchant Services including Allocation of Funds to Appropriate Client Accounts
• Re-Deposit NSF Checks
• Reconcile Client Bank Accounts
• Budgeting & Financial Statements
• Determine Appropriate Financial Reporting Formats – by Location, Cost Center, or Other
• Reporting Unit
• Create General Ledger Accounts
• Prepare Annual Budgets
• Prepare Monthly Financial Statements
• Conduct MTD/YTD Variance Analysis to Budget and Prior Fiscal Year
• Oversee Year End Close Process to Minimize Taxable Income
• Calculate and Allocate Partner Bonuses
• Act as Liaison with Client Accountant to Provide Necessary Information for Income Tax

Reporting

• Accounts Payable
• Maintain Database of all Vendors including Updating Contact/Address information
• Process Vendor invoices
• Process Education Expenses including Confirming Available Balance, Verifying Receipts and
• Appropriateness of Expense based on Client Guidelines
• Process Accounts Payable Checks including Allocation to Appropriate General Ledger Account
• for Expense Tracking
• Execute Electronic Payments via ACH and Wire Transfer
• Maintain Account Payables Files
• Determine 1099 Eligibility and Update W-9 and Tax Information for Specified Vendors.
• Process 1099’s
• Determine when Use-tax is payable, Process Invoice Accordingly, and Maintain Files for Use-
• tax Payable Back Up
• Reconcile Client Petty Cash Accounts

Payroll Administration

• Review Timesheets to Confirm Accuracy and Adherence to Employee Handbook Guidelines
• Process Routine Payrolls including Salary, Hourly, Shift Differential, and Temporary Rates
• Process Bonus Payrolls
• Administer Banking Instructions for Direct Deposit
• Administer Payments of Employee Withholdings including Taxes, 401K, Roth 401K, 401K
• Loans, HSA and Section 125
• Calculate Match and Employer Contributions based on Formulas and Remit to Retirement Vendor
• Track Sign on Advances and Convert to Income
• Review Quarterly and Annual Payroll Tax Information to Verify Accuracy
• Design Payroll Detail Reporting to Meet Client Information Needs
• Review and Forward Employee W-2’s
• Provide Compensation and Deferral and Loan Information to Client Retirement Vendor
• Provide Compensation and 1099 Payment Information Workers Comp Carrier for Annual
• Audit
• Provide Employee Headcount Information to Dept of Labor

Maintain Payroll Records

• Additional Financial Service Capabilities
• Calculate Revenue Impact of Fee Changes
• Monthly Invoicing and A/R Follow Up for Hospital Stipends
• Calculate Partnership Value for Buy-Ins and Buy-Outs
• Prepare Sales & Use Tax Returns
• Prepare Property Tax Returns
• Provide Amortization for Leases
• Create Pro Forma Financial Statements to Assist in Client Decision Making (e.g. adding new site, hire new employee, capital equipment purchases)

IPMS provides Human Resource services that deliver expertise and tools to assist physicians and practice managers with effective personnel management, benefits administration and HR compliance. Our HR Management experts collaborate closely with practice leaders through an outsourcing model that addresses the broad range of personnel issues that may arise; benefits administration; and precise implementation and execution of government mandated programs. Additionally, IPMS can be engaged for a wide variety of HR consultation projects, e.g. Audit and review of existing HR processes; develop employee handbooks; staff recruitment; selection and implementation of employee benefits plans, etc.

Professional Consulting

• Management training and mentoring for Practice Managers
• Performance management and documentation
• Assistance with employee counseling
• Assistance with confidential and/or legal issues
• Membership in SHRM, HRACC, MGMA, CMGMA, CBIA, Employers Assoc. of NE
• Audit and review of existing HR processes
• Update HR processes to assure all governmental compliances are up to date and met
• HR process development for new practices
• HR issues, including management and consultation for physician owners
• Personnel Administration
• Recruitment, background checks, reference reviews, and selection
• Credentialing and Physician Start-up
• New hire orientation and process development
• Policy development and communication
• Employee handbook development and ongoing updates
• Effective hiring practice procedures/development
• Personnel policies and procedures development specific to your practice
• Salary and Compensation Management
• Payroll Processing
• Administration of employee separation process
• Benefits Administration
• Employee benefit program development
• Health, Dental, Life, LTD, STD, Long Term Care
• COBRA
• Liaison between medical practice and broker/insurer
• Property and Casualty, Malpractice, Workers Comp
• Employment Practices Liability, ERISA Bond, Directors and Officers
• Annual market assessment of benefits
• Employee communications
• Management of benefits enrollment assuring employees are enrolled and terminated as
• appropriate
• Monthly audit of insurance invoices
• Workers Comp administration
• Employee benefit deferral administration – payroll deduction
• Benefits review and consultation
• Government Mandated Programs
• Facilitate, manage and/or consult to assure timely and effective administration of:
• Family Medical Leave/Military Leave administration and reporting
• EEO1 Reporting
• COBRA administration
• Unemployment Compensation administration
• Department of Labor reporting

How Much Does Your In-House Billing System Actually Cost You?

The costs of in-house billing and collections go beyond the payroll and benefit costs of your billing staff.

Consider the following additional costs:

• training costs of new hires
• ongoing training to keep up with industry changes
• applying system updates for new carrier billing requirements
• maintaining software licensing and system maintenance
• housing and running of billing software
• billing supplies – HCFA’s, statements, collection letters, letterhead, paper, envelopes, ink cartridges, etc.
• claim submissions – both electronic and postage
• space for the billing staff and storage of all billing records
• billing compliance
• generating routine and custom reports

In addition, there are many intangible costs of in-house billing. When your billing staff is out, chances are charges are not being submitted, which delays collections. Moreover, staff turnover and other pressing demands of your busy practice cause delays in getting claims out and follow-up on accounts. Finally, there is the hassle factor of managing billing staff – hiring and training, monitoring performance, discipline, coverage for time off, etc.

Please fill in the blank fields below with your most accurate figures and click the “calculate” button to discover an approximation of how much your in-house billing system is actually costing you.

Billing Cost Calculator

IPMS can alleviate this burden, streamline the process and optimize your billing and compensation. Please contact us today to discuss how our billing and collections solutions can benefit you.

We at IPMS can tell you all about how our billing and collections solutions have saved our valued customers time, money and effort. Why not take our clients’ word for it?

• “IPMS is like night and day compared to our old billing company. Our collections are up, our aging A/R is down, their reports are excellent and they handle our patient calls in a timely professional manner… I wholeheartedly recommend them!”
  Steven A Kolenik III MD
  President, Connecticut Dermatology Group PC
  Westport & Stamford, Connecticut

• “IPMS has brought organization to our office, allowing our staff to focus less on billing and more on patient care. They have great reporting. Having their CEO in the driver’s seat with managed care contracting has been a significant benefit to our practice…I have recommended IPMS without reservation and will continue to do so.”
  Daniel Veltri, M.D.
  Partner, Sports Medicine and Orthopedic Surgery
  Manchester, Connecticut

• “HPA has enjoyed the personalized billing and management services provided by IPMS for nearly a decade. It has been an outstanding relationship that has benefitted our group immensely in improving billing and collections significantly over our past experience with two previous companies with regional and national reputations. Our collection rates on allowances and A/R are the best of any to my knowledge. IPMS’s assistance with management and benefits programs has also been of great value and provided at a very high level of quality and personalized attention… From my awareness of the experience of other groups using other firms, IPMS is the standard of performance that other companies in the field should be striving to emulate.”
  William Pastuszak, President
  Hartford Pathology Associates
  Hartford, Connecticut

• “We are a large neurosurgical practice that has utilized the billing and collection services of IPMS for the past year and a half. They have done an outstanding job with our accounts receivable, our 121+ has never looked so good… I would recommend them without reservation.”
  David Kvam, M.D.
  President, Neurosurgeons of Central Connecticut
  Hartford, Connecticut

• “We are a large anesthesiology group that has utilized the services of IPMS for many years. IPMS is fabulous. They are great at squeezing the money out of the managed care carriers to get us the best rates… I recommend them without reservation.”
  William Ceruzzi, M.D.
  President, Hartford Anesthesiology Associates
  Hartford, Connecticut

• “We are a large dermatology practice that offers general dermatology and cosmetic services for our patients. IPMS individuals are professional, knowledgeable, accessible and communicate well with the employees in our office… I recommend IPMS and its staff without reservation.”
  Alice G. Hyman
  Practice Manager, Advanced DermCare
  Danbury, Connecticut

“I have been outsourcing my medical billing for ten years and have been disappointed with both my A/R as well as the care and treatment given to both my patients and my staff by previous billing companies. The professionalism exhibited, the excellent results obtained, the personal care to my patients and myself is outstanding…I could not be more pleased with IPMS.”
Rand L Werbitt MD
Dermatologist
Stamford, Connecticut