ABOUT OUR COMPANY
Possessing years of experience and education in the medical billing industry, we are committed in providing our clients with all the best resources, technology and knowledge to help their medical practices achieve their highest potential.
Every day it seems like something new is changing in the insurance world. Keeping up with that rapidly shifting and expanding knowledge base is time consuming and frustrating. Medical billing requires constant attention to regulations, publications, guidelines, laws, and more. Who has the time? At Global Billing Solutions Inc., it’s our job to maintain the most up to date information. We keep up with the latest industry regulations, procedures, and requirements so you don’t have to — providing complete compliance to ensure cleaner claims and quicker settlements.
Alaska Club Building - Fairbanks, AK
Weyhill Building - Grand Rapids, MI
OUR BUSINESS PROFILE
Billing services currently exist to manage the revenue cycle of medical practices in the United States. These services not only relieve medical professionals from tedious detail oriented work, but they also offer a means to substantially maximize the practice’s bottom line. Global Billing Solutions. Inc not only allows medical practitioners and their office staff to focus 100% of their energy and time for patient care, but will also maximize return from insurance carriers.
For many years physicians graduated from medical school under the premise of running a “practice” and with the mindset of business strategies being applicable for other professionals. With this view, core administrative procedures are being ignored or neglected. Some examples;
- Keeping current with insurances specifications and regulations, so that claims are paid on a timely basis.
- Concentrating on collecting receivables and co-payments.
- Ensuring fees are kept at the maximum allowable that insurance carriers are paying.
- Ensuring procedure codes are current and avoiding any claims suspension or rejection of claims.
- For many practices, outstanding receivables grew tremendously and annual bad-debt write-offs have become a routine. However, adequate profit margins allowed medical practices to ignore sound business procedures. With the regulation getting tougher and more cumbersome physician groups have looked for professional billing services that are focused on all these changes, cut down their overheads, increase their per claim reimbursement and have a positive impact on the bottom line.
NOT ONLY MEDICAL
We also provide dedicated support for Payroll
and Bookkeeping services
The data necessary to submit claims will be downloaded from the medical office and input into a specialized Practice Management System. The software performs certain generic edits on the data and stores the information. When a batch of claims is complete for an office, it is time to transmit them to a national clearinghouse. The clearing house is where the claims are scrubbed for a second time. These edits are performed on each claim before they are transmitted to the carrier, thus, guaranteeing accuracy and faster payment in most cases. Physicians no longer have to wait 30, 60 or 90 days for payment, instead will have money in their pockets within 14-18 days.
As practices begin experiencing the benefits of electronic submission, many will see the advantage of out-sourcing other administrative functions. A full-featured practice management software will allow us to meet those needs. Patients can be billed for co-payments or amounts that their insurance company failed to cover. Secondary and supplementary insurance can be tracked and payments and balances can be applied accurately. Outstanding receivables can be tracked with insurance aging reports in several different sequences for ease of use. A complete practice analysis will increase office efficiency by showing where money is coming from. For each procedure, the charges and percentage of total charges they represent are calculated and printed for immediate reference. Transaction Journals and Detail Ledgers provide an accurate overall picture of the practice. With managed care sweeping the country, it is imperative for medical practices to evaluate the benefits they receive from affiliation with different organizations. Our managed care contract service tracks payments and analyzes the information to produce customized reports showing profitability, or lack of profitability, with each managed care facility. These reports are critical when decisions need to be made on renewing and negotiating contracts.
Global Billing Solutions Inc. is a full service revenue cycle management company dedicated to helping medical practices be more efficient in patient caring and revenue generating by out-sourcing their insurance processing and medical billing. We are the complete one-stop-shop for all medical practice administrative functions.
GBS has offices in the State of Alaska where we have been serving clients for over 20 years and have recently opened up an executive office in Grand Rapids, MI.
- Medical Billing, Collections, Denials Management, Payment Posting, Patient Statements, Monthly Reporting and everything in between is all included in our pricing.
- We also provide our clients fully integrated Practice Management & EMR software at our cost!
- GBS charges a percentage of net monthly collections – We get paid ONLY if you get paid!
- We do not tie up our clients in to long term contracts. We want our clients to have the freedom to decide.
- We increase client reimbursements by 30% within 6 months of taking over your billing.
- GBS sets benchmarks of dropping your Old AR by 25% within 2 months of taking over.
We have the best people, the industry experts and software partners to give you the best results! We let our RESULTS do the talking!!
KEYS TO SUCCESS
- Since 1985, the Federal Government has been urging the health care industry to submit insurance claims electronically. Statistics prove that electronic submission can save millions of dollars annually for the industry. Presently, 95 percent of all pharmaceutical claims and 70% of hospital claims are submitted electronically. Physicians and dentists trail far behind, with only 25-30 percent. This is our first key to success.
- A second key to our success is our flexibility. At GBS we understand that each medical practice is unique. Even practices of the same specialty will have different staff and offer different needs. GBS will evaluate the needs of each practice and offer solutions to help the practice become more efficient. Some require all our services and some may require few of many to suit its practice. Our billing will be customized to each practice’s needs. We strive to provide electronic claim submission within 24 hours of the date of service. We also provide a practice management system at no cost in addition to other value added services. All this is provided at a very minimal monthly fee in comparison to what a physician or physician group would have to pay if they were to keep these functions in-house.
- A third key will be our diversified services. GBS offer a one-stop-shopping experience for claim submission, payment posting, denial management, A/R collection and reporting.
- The experience we bring to the table is quite substantial. All our staff members have experience/expertise in working multiple practice management systems (billing systems), software platforms, in multiple specialities, expertise in ICD 9 coding (certified billers), and many years of healthcare experience in the United States.
- History and reputation is very important to GBS. We have been a household name in the medical billing industry in the city of Fairbanks. By being one of the oldest billing company’s in the industry in the state of Alaska, our clients too have been with us for a very long time. They have been loyal to us, as we have delivered the desired results for many years. Our strong client base is one of our key strengths. Below is a chart depicting how long each of our clients have been with us.
- Strong Vendor Relationships is a must have in the Revenue Cycle Management business. GBS has been in partnership with the leading software vendors like AdvancedMD which is one of the highest rated, top tier medical billing platforms in the industry. GBS have their own account manager at AdvancedMD and get preferred partner pricing which in turn gets passed on to the clients that makes us more competitive than many billing service providers.
- Other than medical billing, GBS also provides other value added services such as book-keeping, payroll and accounting services to clients who require and an all in one solutions. The accounting function is a very small revenue generator but we like to keep this support function for our clients.