FAQs
Q. Is TrueFACS different than a TPA?
A.Yes. In the case of self insured organizations, TPA’s process hospital claims using the organization’s monies according to policy and plans that are in place. In some cases TPA’s perform an audit to the best of their ability, which is not nearly as effective as the audit that TrueFACS performs. In truth every self insured organization would profit from adding the TrueFACS audit to the TPA process. After all, it is their money.
Q. How long of a contract would we have to sign?
A. Business requires contracts so as to define responsibilities and limitations and of course to protect all parties. We have faith that our service is of real value; however our belief is that if something is not “good” for all involved there should be no restrictions to ending the agreement. Therefore our agreements can be cancelled with a 30 day written notice.
Q. What‘s your minimum/maximum number and dollar value of claims?
A. Common sense dictates that our success rate will determine the number of claims you want us to audit. As a rule of thumb every hospital bill and out patient surgical bill includes a large percentage of errors so as to fit the profile of our specialty.
Q. Are you insurance?
A. No. We are a medical bill auditing service specializing in “prior to payment of claim” hospital and out patient surgical bills.
Q. Are you attorneys?
A. No. We are a medical bill auditing service specializing in “prior to payment of claim” hospital and out patient surgical bills. However we are contracted with a substantial ERISA attorney firm to defend (included as part of the service) any balance billing attempts by a hospital or facility.
Q. How long does your audit take and for us to start saving money?
A. Since our service is performed prior to payment of claim, we operate within each State’s statutes that mandate the timeliness of claims payment. In almost all cases provisions are made for withholding payment for the part of a claim that is in legitimate dispute. Our audit takes between five (5) and ten (10) business days. Savings are realized virtually immediately.
Q. What’s your fee?
A. We expect that you will pursue savings that we have identified and then work on a percentage of savings that you actually achieve.
Q. What are the benefits of using TrueFACS?
A. We will identify the egregious errors that are rampant on almost every hospital bill enabling your organization to pay a "clean claim" and save substantial sums of money. Besides the obvious dollars saved, it further can equate to lower future premiums as well as helping the CFO and/or CEO fulfill their fiduciary responsibility under the ERISA statutes. It is intuitive that the savings would increase cash flow as well as enhance bottom line figures.
Q. How do we get started?
A. We execute an agreement and you forward claims to our HIPAA compliant and secure FTP site or give us a password that allows us to upload claims from your secure FTP site. We can accept data through various formats so there is no I.T. challenges or expenses to your organization.
