Ohio State Medical Association Announces Partnership with Transworld Systems

In an effort to help physician practices resolve outstanding insurance claims and unpaid self-pay balances, the Ohio State Medical Association recently partnered with Transworld Systems, a revenue collection company. OSMA members will have access to Transworld’s GreenFlag Profit Recovery product and will receive special pricing with no transaction minimums.

“Transworld Systems has significant experience in the health care industry and understands the special needs of medical practices,” said Dave Owens, OSMA Senior Director and Chief Marketing Officer. “Cash flow is negatively affected by unresolved insurance claims and slow-paying patients. Transworld’s GreenFlag Profit Recovery product helps practices address these claims at the early stages.”

Outstanding Insurance Claims

Practices receive swifter, more accurate resolution on insurance claims because GreenFlag reprioritizes claims and moves them from the clerk’s desk into the hands of a supervisor. This unique service provides a minimum of five touches per claim, getting fast results from insurance carriers. Practices can expect a reduction of days in AR by 10 percent to 40 percent while dramatically reducing internal efforts and costs.

Unpaid Self-Pay Balances

The GreenFlag System effectively collects on past due statements while ensuring that patients feel comfortable returning for medical care after collection. Transworld’s third party contact acts as a natural extension of a practice’s internal follow up efforts.

“Wright State Physicians began using Transworld for collections after failed attempts with smaller collection agencies. Our collection rates increased by over 60 percent within the first six to eight months,” said Jocelyn Piccone, Chief Operating Officer for Wright State Physicians. “The system has streamlined collection processes and is interfaced with our practice management system. I highly recommend Transworld, a national company that has been in the collection business for over 25 years.”

Through the partnership, OSMA members receive:

• Special pricing of $10 or less per claim or balance exclusively through the OSMA
• No transaction minimums
• Guaranteed ROI of 2 to 1
• Submit and manage accounts online and via batch process
• Simple uploads available through many of your practice management softwares
  

Founded in 1970, Transworld Systems is the nation’s largest fixed-fee collection agency. They serve over 20,000 medical practices in all 50 states. Last year, Transworld collected over one billion dollars for their clients at a cost of less than 7 perecent.

For more information, please visit the OSMA Web site at www.osma.org or contact Maureen Kraft at (800) 766-6762 or mkraft@osma.org.