ASHA will launch a wholly owned company, PracticeSource, providing one-stop solutions to simplify the business of running and managing a professional practice.
Many professionals enter speech-language pathology or audiology to provide clinical services. But after starting a private practice, providers must combine clinical service skills with business management. The paperwork and administration involved in submitting claims for reimbursement—coupled with the complicated and ever-changing legal, financial, tax, and compliance environment—can take hours, or even days, away from providing services. The efficiency of operations can dramatically affect a provider’s cash flow, profit margins, quality of life, and clinical services.
An Automated Claims Solution
To help members streamline their business, PracticeSource will debut at the ASHA Convention this month with an automated claims management service. The service is being launched in response to the request of members who told ASHA they needed a solution for streamlining claims administration, improving cash flow, and, most importantly, complying with regulations for the Health Insurance Portability and Accountability Act (HIPAA).
Administrating the submission and reimbursement of health care claims is one of the most time-consuming and frustrating tasks for many clinicians. PracticeSource simplifies this task by automating the claims submission process, which standardizes claims information, reduces paperwork, tracks claims information, and streamlines data transfer to payers.
In addition, HIPAA privacy and electronic data interchange regulations will require new processes and applications for managing patient records and billing information. An automated reimbursement solution will help ensure HIPAA compliance, while simultaneously enabling cleaner, faster submissions, improved cash flow, and more time for service provision.
HIPAA Compliance Solutions
To assist members in proactively preparing for HIPAA regulatory requirements, PracticeSource will augment its claims solution with access to HIPAA educational, planning/implementation, and consulting resources.
Future Offerings for Business and Life
In 2003, PracticeSource will fulfill its mission of simplifying practice management by adding business products and workplace benefits at substantially discounted member-specific group rates.
Speech-language pathologists and audiologists increasingly need to find solutions that maximize their practice profits, streamline administration, and provide better patient service. PracticeSource enables providers to focus more attention on serving their patients by reducing the resources and time spent on claims reimbursement, business purchasing, and business management.
About PracticeSource
Created to simply the business aspects of running a professional practice, PracticeSource consolidates access to products and services that enhance productivity, reduce expense, and maximize efficiency. From practice management solutions and discounted business products and services to workplace benefits, the goal is to provide one-stop solutions for managing a provider’s practice, business, and quality of life.
PracticeSource is a part of CompleteSource, Inc., a wholly owned ASHA company, with a mission to effectively help members better manage their practices, increase their profits, and solve their reimbursement and HIPAA needs.
For more information about PracticeSource, contact Cliff Carroll by phone at 410-308-8672 or by e-mail at
ccarroll@practicesource.net
, or visit
www.practicesource.net
.