Perspect Medical Medical Billing (PMB) is a Ministry of Health approved billing system ideal for physicians who do not require the full suite of features that traditional EMR products offer. It is this opportunity that led to the development of the PMB System.
After approximately two years of operation, it is estimated that 1% – 2% or approximately $3,000 to $5,000/year per physician could be saved thanks to the billing efficiencies of the PMB System. PMB is a user-friendly program designed by fee-for-service physicians with a specific focus on eliminating lost revenues due to billing errors.
Its main focus is billing of fee for service activities. The software was developed for those who require a simple, comprehensive, affordable, and reliable billing system, which they can access from virtually any device, and any location at anytime. PMB was developed by physicians, for physicians, taking into account many of the unique needs of the profession. Specialties that it is highly applicable to include radiology, anesthesiology, GP Assists, critical care associates and locums to name a few. Basically any physician-providing fee for service that does not require an EMR would benefit from the power of PMB features and convenience.
Designed specifically to focus on loss prevention, the PMB system incorporates many features that flag the specific situations where revenues are typically lost. Situations such as: rejected claims (which may not be resubmitted); expired claims (which often go unnoticed); and WCB claims (which are often submitted incorrectly or not at all). The PMB system is designed to flag all of these scenarios and more. Being aware of claims that are sitting with MSB or have gotten lost in the system helps physicians keep on top of their billings and allows them to resolve such problems in a timely fashion. PMB ensures physicians are being paid fully and promptly for services provided.
While the main goal of developing the PMB system was to maximize ROI, other important factors were taken into consideration. In addition to being accessible from any device in any location, the PMB system also makes claims submission simple. In fact, physicians insisted submissions would be as easy as one click for both MSB and WCB claims. That’s what PMB does. On the reconciliation side, PMB automatically collects and analyzes both paid and returned claims on behalf of physicians – eliminating the worry of missing unpaid claims.
PERSPECT MEDICAL BILLING BENEFITS AT A GLANCE
- Highlights current revenues in real time
- Identifies revenues flagged as lost (due to late submission) allowing for resubmission
- Identifies claims being held-up with MSB
- Detailed error proofing for new claims
- Drop-down menu for referrals
- Direct claims submissions to MSB and WCB (no down/uploading or invoicing required)
- Real-time record of rejected claims, along with reason or rejection (allowing for immediate resubmission)
- Automatic pick-up of all MSB reports, eliminating risk of missed “pick-up”
“Executive Dashboard gives physicians a real-time snapshot of all claims and their current status.”