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Essential Software |
MD Cost Analysis Wizard
(MDPAW)
MD Practice
Analysis Wizard
| FEATURES
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ClaimTek's MD Practice Analysis Wizard provides you with
the tools to perform effective cost analysis comparisons
When you enter your prospective medical client claims billing data, in just seconds, the MD Practice Analysis Wizard calculates complex equations that clearly show how much the clinic is actually paying
for claims billing, and how their costs compare with the national average.
The MD Practice Analysis Wizard allows you to perform analysis that compares billing costs (manual vs. electronic, and in-house vs. outsourcing) in two important ways:
1. You can perform a Comprehensive Practice analysis that shows the cost of the whole medical billing operation (complete practice management
analysis), OR
2. You can produce a Claims-Only analysis report. This report compares the clinic's in-house billing cost to the cost of your service based on claims only.
Both these formatted reports include comparison tables and colorful graphical analysis for visual effect, showing the savings (per claim, monthly and annually) when outsourcing the service to you. These outstanding reports can be printed out on a
printer or exported to a Microsoft Word document and inserted into proposals. Additionally, you may calculate these billing comparisons based on several pricing
methods: a per claim fee, a percentage fee, or a combination of both.
 The system will also generate five graphical representations of the Actual Claims Costs
vs. Potential Claims Costs:
- Cost per Claim: Graphical comparison of Actual versus Potential claim processing costs.
- Cost of Money per Month: Graphical comparison of Actual versus Potential claim
processing costs of money per month.
- Total Cost per Claim/Month: Graphical comparison of Total Actual versus Total Potential claim processing costs for a month.
- Monthly Claims Costs: Graphical comparison of Actual versus Potential monthly claim processing costs.
- Annual Claims Costs: Graphical comparison of Actual versus Potential annual claim processing costs.
To recap, the MD Practice Analysis Wizard allows you to:
- Determine the best pricing strategy for different medical specialties
- Calculate the cost and the pricing of your services based on per-claim fee, percentage fee, or a combination of per-claim and percentage,
- Generate claims-only cost analysis reports,
- Generate comprehensive practice cost analysis reports based on full practice management,
- Export reports to Microsoft Word for additional formatting,
- Include graphical analysis and table cost comparisons for convincing visual effects
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