Everyone can answer your general FAQs’ at an operational level, but at Elico we choose to make a difference at a business level. We are committed to making an impact to your existing bottom line wherein a percentage of your savings becomes our revenue model.
How can partnership with ELICO help my Practice/ Billing operations?At Elico we build relationships for business success. We bring in our five decades of business management to strengthen your Practice at the Operational and Financial level.
If you examine your billing support cost as a percentage of overall cost, we can design a operational plan for you wherein we can bring down the cost of operations by a minimum of 30%, so that your operating margins improve significantly. This will give you more leverage to price your services more aggressively in a competitive market. We achieve this through a combination of Process reengineering and use of Technology for automation. Do I need to make any investment?Elico deploys an expert team to study your existing needs, and undertake to provide you a summary report that will provide a framework for the decision makers to then decide on how they wish to move forward with the observations. We do not expect any reimbursement to us investing our Physical time at your location and will be committed to provide our services free of cost or obligations of any nature. What are the volumes and specialties that you presently handle?At Elico our business model is set up to handle multiple options for our clients. We do process over a million transactions every year. The major specialties presently handled by us include Emergency Medicine, Cardio Vascular/ Thoracic, Interventional Radiology, Pediatrics, Ophthalmology, OB/ GYN, Internal medicine, Orthopedics, Pathology, and Anesthesia. Do you handle old A/R projects?Yes, we are experienced in handling old A/R projects within the specified time limit.
How secure is my data?We are a certified BS7799 company and are experienced in data security management systems and processes. We are regularly audited by third party certifying agents.
What are the different monthly reports that I get?Custom reports are generated on request in addition to the standard monthly reports such as net collections report, service analysis report per physician per location, aging report, etc. Do I get feedback on reimbursement trends?Yes, in addition to the monthly reports, regular compliance audits will be conducted on service documentation based on Federal, State, and carrier specific guidelines. Feedback is given on areas requiring improvement for better reimbursement.
How do I migrate the process? The migration will be handled our team who understand the business impact of the billing cycle, and have years of experience in setting up billing process at the Practice, and understand the Payer/ Patient mix to effectively recommend a workflow that will be customized to the needs of the operations. The team constitutes a set of AR specialists, Coders and IT specialists, who can map the existing process, design process changes, and plan the phased migration process that is acceptable to both the parties.
What are the different pricing models available? At ELICO we are flexible in our pricing methods. We price our services with transparency and align with the business manager's needs of the responsibilities he/she wishes to migrate and continue to keep the critical processes in-house as needed by the Billing company or the Practice.
While we do have pricing as a percentage of the Net collections, we have for a large process to be migrated, where we can estimate the number of people required, pricing can be on full-time equivalent basis.
Complex work relating to auditing, analytics and compliance projects can be undertaken on an hourly pricing method.
We would be glad to provide you further information on questions like how many certified coders you have, how you calculate your typical AR days, what Practice management software you have, or, familiarity on multiple third party billing platforms, etc. etc.
For further questions, please write to us on our address give in contact information or write directly to us from Queries Section.