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November 11, 2019

Do you lack organizational resources and collection margins within your practice or hospital? GBS assists hospitals and practices in establishing proper billing and collection methods and controls so they can reach their revenue and efficiency goals.

One of our Clients said, “We struggle to find the right staff with critical and sufficient knowledge of comprehensive revenue cycle functions. And when we do, we fear losing them and having to train others.”

Top 5 reasons hospitals and practices should consider outsourcing their billing and collections:

  1. Accurate Coding & Compliance – with an experienced coding team, the practice will realize an increase cash flow, while satisfying compliance initiatives through accurate and precise coding
  2. Clean Claims Submission – tracking error rates and providing front-end data contribute to staff re-education and improved process flows
  3. Denials & Appeals Management – the ability to track appeals filed to the payor in response to an erroneous denial provides tremendous value
  4. Patient Collections – monitoring statements of delinquent accounts is forwarded to the practice’s outside collection agency in accordance with the practice’s pre-determined protocols
  5. Analytical Reporting & Benchmarking – aiding the ongoing assessment of the fiscal health of the practice, analytics provides proactive identification of potential reimbursement, productivity and operational issues and aids in benchmark comparisons

If you decided to outsource your RCM (Revenue Cycle Management) services, you’ll reap the benefits of increased cash collections, improved staff productivity, quicker denial appeals, increased patient satisfaction and reduced overall costs!

GBS offers a multitude of related services, including Appeals and Denial Management, Patient Collection Services and Standard/custom reporting, as well as Comprehensive Revenue Cycle Management—all customized to meet each Client’s needs, no matter the size of their organization. Contact us to learn how we can help you!

November 4, 2019

The healthcare industry continues to be inundated with new technologies on a daily basis. One of the biggest challenges for providers is to figure out how to effectively integrate these technologies into their practices to improve both patient care and financial performance. Organized, automated billings and collections processes do in fact provide the resources needed to positively impact patient care. Without consistent cash flow into a practice, everyone can suffer.

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According to a recent survey* conducted in the healthcare industry:

  • 13% of respondents stated that their Revenue Cycle Management (RCM) processes are completely automated.
  • Of those respondents, 69% use more than 1 solution to manage their revenues, leading directly to system incompatibilities, increased claim denials and difficulty in obtaining patient payments.
  • 96% of the respondents reported that data collection throughout the entire process was either a “moderate” or “big” problem for them.

Don’t allow your practice and patients to get caught up in this confusion! GBS has an all-in-one RCM solution that will help to decrease insurance denials, increase patient collections, and simplify office processes. We also offer automated, value-added solutions that can be customized and applied to a practice’s existing RCM process to enhance and improve overall performance.

GBS would be glad to discuss how our proven business model can benefit your practice, and how we’ve already helped other organizations improve their bottom lines by improving their billings and collections. Contact us today and get started!

*Dimensional Insight/HIMSS RCM Survey: “Understanding Health Systems’ Revenue Cycle Management and Challenges.”  www.dimins.com; accessed June 2018.

October 28, 2019

  1. Accurate Coding & Compliance – With the addition of ICD-10, accurate diagnosis and procedural coding have increased in complexity over the past few years. Outsourcing coding provides access to a highly educated coding workforce, with coding certification and ICD-10 at the core of some providers. With an experienced coding team doing the work, the practice will realize an increase in cash flow, while satisfying compliance initiatives through accurate and precise coding.
  2. Clean Claims Submission – Clean claims submission is directly linked to accurate patient registration, correct coding, detailed charge entry and EDI pre-billing edits. Having a high clean claims submission rate is an essential element to healthy accounts receivables and improved cash flow. Tracking error rates and providing front end error data contribute to staff re-education and improved process flows.
  3. Denials & Appeals Management – Back end (post claim submission) denial management is a critical component to RCM. Having a tool that manages denials and provides reporting feedback aides in the identification of payor denial trends. The ability to track appeals filed to the payor in response to an erroneous denial provides tremendous value to the practice. In addition, a swift response to payor denials results in improvements to the practice’s Days Revenue Outstanding (DRO), Account Receivable Aging (ARA), Gross Collection Percentage (GCP) and Net Collection Percentage (NCP) benchmarks.
  4. Patient Collections – With rising deductibles, the need for a regular patient statement cycle coupled with an automated collection cycle is more important than ever. Dedicated staff is allocated to establishing payment plans with patients. Monitoring statements of delinquent accounts is forwarded to the practice’s outside collection agency in accordance with the practice’s pre-determined protocols.
  5. Analytical Reporting & Benchmarking – Analytical reporting is utilized on multiple levels of the revenue cycle. Establishing benchmark comparison data should be part of every practice’s monthly process. In addition to aiding in the ongoing assessment of the fiscal health of the practice, analytics provides proactive identification of potential reimbursement, productivity and operational issues and aides in benchmark comparisons.

 

GBS Corporation/Odyssey Health Systems (GBS/OHS) offers clients the opportunity to increase their collections, reduce receivables, and decrease payment lag days with our RCM services. With expertise and experience dating back to 1995, GBS/OHS also offers value-added services such as medical record documentation training, E&M and surgical coding education, and continuous process improvements through the involvement of our Executive leadership team and skilled industry professionals.

Hear what some of our current clients are saying:

“I give GBS/OHS an unqualified recommendation for any hospital or medical group that is seeking billing, collections, or consulting services. Their business model and proven ability to successfully execute that model makes them the logical and smart choice.”

– Ronald R. Suntken, President and CEO, Crystal Clinic Orthopaedic Center

To learn how your hospital or medical group can benefit from GBS/Odyssey’s RCM services, contact us today at 800.870.4427 or at healthcare@gbscorp.com.

October 21, 2019

Data security, cyberattacks and data breaches are among the biggest and most serious challenges facing businesses today. The ability of companies to keep their customers’ data from falling into the hands of thieves is imperative for long-term survival and success in the marketplace. Sensitive, private and personal data—including credit card and social security numbers, email addresses, usernames, passwords, phone numbers and buying histories and patterns—can be readily available to hackers that gain unauthorized access to a company’s network. Essentially, hackers will look for any business or personal data that can be sold and used to breach financial accounts, steal a person’s identity or make fraudulent purchases and transactions.

GBS assists organizations with eliminating these critical challenges and threats by customizing Managed Technology Solutions that provide robust protection against dangerous hackers and breaches. We understand how the safety and security of your data supports the success of your business—which is why our solutions are designed to safeguard your valuable data 24/7/365.

There are some simple, basic steps that everyone can take to help protect their online devices, systems and personal data. Ongoing education on the latest threats, good common sense and the use of industry best practices are all great places to start.

  1. Create unique usernames and passwords for your accounts. Adding numbers and symbols to your login credentials makes them more difficult to guess or duplicate.
  2. Avoid using the same password or group of passwords for your accounts. Each online site you sign into should have its own combination of letters, numbers and symbols that are used only for that particular account.
  3. Keep all of your software current by promptly installing updates when they’re released. Updates not only improve the performance of your devices and systems, but often contain the latest security enhancements and protection for their security.
  4. Make sure your data is backed up at the end of each day. This is “Computer 101,” and could make all the difference in the world should your data or network become compromised.
  5. Use multiple, cloud-based systems to securely store your backups. Cloud backups utilize multiple servers spread over various locations and provide a much greater level of security than a single, in-house server.
  6. Use good judgment and don’t be click happy. If an email looks suspicious or is from an unknown source, don’t open it. If a website looks questionable, don’t visit it or give them any of your information. If it looks and feels like a scam, assume that it is and avoid it.

October 14, 2019

GBS’ FOUNDER PAVED THE WAY FOR OUR COMPANY’S FUTURE, THANKS TO HIS PROFOUND DETERMINATION, FORESIGHT, LEADERSHIP AND GENEROSITY

Larry Merriman, an adventurous man, exemplified unwavering determination to provide the lifestyle he envisioned for his family of five by starting his own company, Graphic Business Systems (GBS), in 1971. He did this by using his knowledge and passion of the forms industry, and the help of a few former business associates who trusted, respected and believed in his vision and leadership abilities. Not only did he far exceed his original goal, his family grew by approximately 400 extended GBS family members.

Grand legacies often have small beginnings and Mr. Merriman’s story is no different. The company office was comprised of his kitchen table and his home phone. One can only assume his wife, Pat, did not want to add printing equipment as part of their home décor or have parked cars in the driveway. Fortunately, Mr. Merriman had the foresight to partner with other suppliers, creating a way to provide products, services and solutions to customers quickly without the need to invest in the equipment. Over the years, this foresight significantly contributed to our prosperity—ultimately helping to grow GBS to three successful business units, eight locations and numerous diversified acquisitions.

A good leader is someone who knows the way, goes the way and shows the way. Mr. and Mrs. Merriman’s philanthropic nature and charitable donations are to be admired and commended. They motivated us to be involved and to donate to charities of our choice. Through his exceptional leadership and generosity, Mr. Merriman supported his employees—from our hiring to our retiring.

The GBS ESOP (Employee Stock Ownership Program), which began in 1987, is another wonderful example of how Mr. Merriman cared for his employees and their futures. He literally positioned us for success by structuring our company to potentially ensure that GBS employees and their families would benefit to the fullest extent.

We are fortunate that Mr. Merriman shared his many gifts with all of us, and thankful that he left an enduring legacy and the tools to continue to build upon the solid foundation that he established 48 years ago. What was once a vision became his reality, as well as the means to a successful and secure future for many employees. And the GBS family will continue to benefit from Mr. Merriman’s leadership, ingenuity and guiding spirit. When asked if GBS can fill a need, our answer will always be an astounding “Yes,” because our Founder instilled in us that with hard work and determination, our capabilities are endless! He also taught us that we all bring value to the GBS family table, and in doing so, we continue to honor Mr. Merriman and show our appreciation. Through his life he has made others’ lives better.

October 22, 1928 – May 12, 2019

 

October 7, 2019

Medical claim denials are a problem that all healthcare providers, regardless of size, specialty, and past experience, face on a daily basis. Billing managers and Accounts Receivable staff spend countless hours submitting, correcting, and re-submitting patient claims to insurance providers for payment. This inefficiency not only costs healthcare providers time and money, but also drives up the administrative expenses of insurers and ultimately leads to greater costs for patients throughout the entire healthcare industry. 

What causes medical claim denials?

So what exactly is causing all of these denials, re-submissions, and inefficiencies throughout the system. According to Debra Beaulieu-Volk in Medical Economics magazine, a dozen of the most common causes for medical claim denials are as follows:

  1. Data entry and/or typographic errors on patient data
  2. Duplicate claims submitted for the same service
  3. Missing or incorrect procedure code modifiers
  4. Inaccurate site of service designation
  5. Outdated or deleted diagnosis codes
  6. Patient plan’s deductible has not been met
  7. Mutually exclusive or mismatched diagnosis codes
  8. Patient has exceeded his/her plan’s benefit amount
  9. Lack of prior authorization approval by patient’s plan
  10. Service rendered is not covered under patient’s plan
  11. Service rendered is deemed not medically necessary 
  12. Providing physician is outside of patient plan’s network                                                                                                                                                  

How can medical claim denials be reduced?

Don’t make these mistakes in your practice! In order to eliminate the efficiencies in the billing and collections process, an organized, coordinated system of procedures must be established and followed on a consistent basis. Fortunately, these procedures and best practices do exist, and can be adopted and successfully implemented by any organization with the right help and guidance.

In fact, GBS’ RCM services have been shown in the past to reduce provider denial rates to less than 1%, adding dollars directly to the bottom line by increasing revenues and reducing costs. Contact GBS today to learn more about the billings and collections solutions that can help turn your practice around!                                                                                                                                                                                                                           

Beaulieu-Volk, Debra. “Improve the Claims Management Process: Preventing Payer Denials.” Ensuring Medical Billing Success, 30 May 2018www.medicaleconmics.com.

 

September 30, 2019

According to the experts, the top five strengths of organizations currently implementing DYAD Leadership are as follows:

Communal Core Values – Every single Team member needs to agree upon what is most important to the organization and how they will maintain the priority of these values.

One Vision, One Mission – Organizational success does not come from leadership Teams who are territorial. It is important that everyone work together to leverage ALL strengths within the Team.

Open Communication – This is key to maintaining the previous two strengths. The more frequently your leadership Team interacts, the more integrated responsibilities and authorities become. This is key to working jointly towards the prosperity of your organization.

Respect – If the physician/administration Team does not share and show mutual respect, it will get lost among the Team that is delivering services.

Correlative Capabilities – Not one organizational leader is good at everything. It is important that the Team is made up of a variety of leaders whose skills complement each other in ways that are in the best interest of the organization.

 

Cortese, Denise A, and Robert K Smoldt. “5 Success Factors for Physician-Administrator Partnerships.” MGMA, MGMA/CAQH, 4 Apr. 2018, www.mgma.com/resources/resources/business-strategy/5-success-factors-for-physician-administrator-part.

August 30, 2019

The switch to value-based reimbursement has turned the traditional model of Healthcare Reimbursement on its head. However, small-to-medium-sized practices are less prepared for value-based goals and need the expertise provided by medical billing service vendors and Accountable Care Organizations (ACO), which handle both payment and care requirements. 

Medical Billing services can help your staff focus on other areas while improving workflows.

Nurses and medical assistants spent 20.6 hours per physician per week on administrative tasks related to health plans. Medical Billing services can allow them to spend this time caring for your patients. You can even stay organized and optimize processes to reduce test duplication and decrease errors.

Leave the stress of managing your practice’s billing in the past and join one of our many satisfied client’s today!

Our proven business model and ability to successfully execute it make us the ‘logical and smart choice’ for medical groups seeking exceptional billing and collection services.

*GBS Testimonial, Crystal Clinic Orthopaedic Center, LLC/Crystal Clinic, Inc., March 16, 2018.

 

August 20, 2019

GBS is pleased to announce that Holley Credit Union, based in Paris, Tennessee, recently became the latest addition to the Sharetec core processing family.

While evaluating possible core processing solutions, Holley had two main objectives: 1) to replace a legacy core processing system that was no longer receiving investment and development, and 2) to significantly increase automation throughout their systems. According to Dan Miller, Vice President of Sharetec, Holley was seeking an innovative, long-term core processor that would bring them up to speed and help them excel within the highly competitive credit union industry. “Since the core processing system is vital to Holley’s future success, it was imperative that they select a new provider that would meet all of their needs,” said Dan. “They researched their options thoroughly, and reached out to existing Sharetec clients, which yielded several favorable testimonials that positively impacted their decision-making process.”

Following the research and careful consideration, Holley made the decision to move forward with Sharetec, and is looking forward to reaping the rewards of their new core processing solution. As their manual processes become fully automated with the Sharetec software, Holley will be able to provide their staff with a modern system that can greatly improve the efficiency of their daily operations. In addition, their members will appreciate the online and mobile tools that will make their banking experience easier and more convenient. In the end, everyone associated with Holley will benefit from the new technology, increased efficiency, and improved overall experience that the Sharetec core processing system offers.

For more information on how Sharetec can help your credit union, contact Dan Miller at 844.802.4441 or 330.494.5330 extension 2350, or at danm@gbscorp.com.

August 19, 2019

The YOGI Golf Committee held its 3rd Annual Charity Golf Tournament on August 5th at Tippecanoe Country Club in Canfield, Ohio. Once again, the outing was a tremendous success and the committee was blessed with a beautiful day for the event. With Stadium Cadillac as our title event sponsor, and Huntington and Signet as our event co-sponsors, many other generous organizations sponsored our event as well including Western Reserve Hospital, Upland FileBound, Brenna Manna Diamond, Crystal Clinic Orthopaedic Center, Galaxie Industrial Services, Hewlett Packard, Involta, Russell Foundation, Noah Partners, LLC, Sapphire Essentials, Schauer Group, Simon Roofing and Ryan Temps.

This year’s fundraising event was a result of a dedicated and widespread effort by the many GBS individuals and teams that donated generously to the Chinese Auction. Very select and much-wanted items were up for bids with proceeds exclusively benefiting GBS’ YOGI Fund. In addition to the many opportunities to win auction items, golfers had a chance to win a two-year lease for a 2020 Chevrolet Silverado with a hole-in-one on the ninth hole. The event also included a 50/50 drawing which awarded $506.00 to the lucky winner.

The competition was set up as a four-person scramble for 18 holes, with both first and second place team winners. A delicious breakfast, lunch and dinner were provided for all participants, with beverages at the turn.

Each year, the YOGI Golf Committee and volunteers led by Joe Chahine, VP, Healthcare Sales, provide a superior and premier golfing experience that receives accolades from the golfers, who enjoy the friendly competition and the chance to support a charitable event. This outstanding tournament not only raises dollars for YOGI but for select charities. This year’s recipients included Marketplace Solutions, The Purple Cat and The Beatitude House. Marketplace Solutions, led by Director Pat McBane, offers a Ministry to equip senior executives, business owners and community leaders to bring transformation to their sphere of influence. A key development feature that he still leads today is an executive peer group called Executive Exchange, a monthly roundtable forum for leaders to grow personally, professionally and purposefully.

The Purple Cat was founded in 2003 to offer day-program alternatives for adults. Clients participate in a wide range of vocational functions, creative projects and classes that develop daily-living skills. The goal is to prompt each person to achieve his or her potential with training and coaching. Clients perform duties in agriculture, lawn care, snow removal, building maintenance, food service, animal care and office work. Each enjoys the satisfaction of receiving a paycheck for a job well done.

The Beatitude House, sponsored by the Ursuline Sisters of Youngstown, is committed to all disadvantaged women and children. By creating homes, providing educational opportunities and fostering healthy families, the organization provides invaluable opportunities to transform lives.

We want to thank everyone who gave of their time, talent and treasure to make our 2019 YOGI Charity Golf Tournament a success! We look forward to planning more events in the months ahead!

-The YOGI Committee and the YOGI Golf Committee

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