RYAN RECEIVABLES
FAQ

Why should I use an outside billing agency?

Let's face it.  Most professional counselors did not get into the business to deal with tedious paperwork, tricky insurance companies and all the headaches that come with managing the billing side of the profession.  It is truly a separate job!  Why spend your valuable time tackling this obstacle when Ryan Receivables can ultimately save you not only time, but money.

 

When you consider how much time you spend on the billing process, and all the money lost due to claim denials and the lack of follow-up time, the question becomes "How much longer can you afford not to?"

 

What should I look for in a billing service?

There are obviously many factors to consider when entrusting your incoming insurance balances to an outside agency.  Attention to detail, efficiency and accuracy are all important elements for a company to possess.  But above all, communication is key.  You must be comfortable with the people that are handling your business, and for that reason, Ryan Receivables goes to great lengths to make sure that the communication paths are open and effective. 

 

Is this service HIPAA compliant?

Absolutely.  Since the recent HIPAA amendments were enacted, account privacy is once again very topical in the industry.  Ryan Receivables follows all applicable regulations with regard to its business practices, including data and software security, signed confidentiality agreements, and by establishing a signed Business Associate Contract with each provider before engaging in services.

 

Our company is committed to ongoing education and training for HIPAA compliance, and we engage in regular policy reviews to insure compliance.

 

How much does it cost?

When evaluating cost for the service, it's important to think about how much your time is worth.  Many in private practice spend hours and hours every month trying to get their own billing done, not to mention the additional time spent chasing after those claims once they've been submitted.

 

Our fee schedule is 7% of monies received as a direct result of our service, with a minimum per adjudicated session fee of $3.50.  Covered monies include insurance payments, outstanding private pay balances billed through our service, and any secondary or follow-up billing you would have us do (outside of the normal cycle).  Co-pays, and money paid at the time and date of the service are, of course, excluded. 

 

There is a start-up fee of $300, which covers a software addition dedicated exclusively to your practice as well as any necessary data transfer to begin billing.

 

Our goal is to provide a service that truly pays for itself, both in terms of recaptured time and in terms of a higher top-line revenue for the practice.  In addition, you'll find our cost is well below that of the competition.

 

What can I expect from Ryan Receivables?

Our goals, though lofty, are quite simple.  Improve billing turnaround time, lower overall practice expenses, maximize reimbursement of claims, increase practice cash flow, and improve office efficiency.

 

Between the time we give you back, and the claim follow-up we are able to provide, we aim to have the service pay for itself.  After all, your time is your money.

 

What other services does Ryan Receivables provide?

Benefit Verification is offered to our clients as an additional "a la carte" service.  For a one-time fee of $4 per verification, a simple form is faxed to our office with some general patient info.  Then, we return it within one business day with all the key elements of their mental health coverage.  One more way we can take time spent on the phone with insurance companies off your plate!

 

Organizational Consultation is provided for an hourly rate for those therapists that need some extra help getting all the odds and ends of insurance billing tied up.  We can help give insight to some of the key methods for keeping an organized process in place in your office.

 

We also offer a New Practice Consultation, designed to give a strong head start to those therapists new to private practice.  Organizational tools, including new patient information sheets, insurance verification forms, daily session ledgers, HIPAA notices and more are provided as part of this service.  We also spend time with these new providers covering best-practices with regard to administration of a private practice and organizational strategies. 

 

 

Does my practice have to be in Arizona to use Ryan Receivables?

No.  While Ryan Receivables has operated in Arizona since 1999, we have always dealt with carriers throughout the country.  Much of the communication between the company and our providers happens via telephone, fax or e-mail.

 

How do I get started?

Give us a call!  Send us an e-mail!  We would love to talk with you about how Ryan Receivables can meet your specific practice needs! 

 

 

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