Please click on a question below to read more.
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- Do you have a setup fee or sign-on fee?
Yes, our registration fee is $1,500. Click here to read more about our registration fee—it covers setup in our systems, consulting time, and customization of forms and reports.
- Why is the registration fee so much?
You can click here to read more about what you get with the registration fee, but, long story short, there are two major costs that the registration fee is meant to cover: the cost of adding a practice to our Practice Management system (AdvancedMD) and the cost of our staff’s time to get a practice setup.
Getting a good PM system (like AdvancedMD) setup can be very pricey—paying to have this access independently (rather than going through a billing service like Innovation) would easily cost more than our entire registration fee. Add in the hours our staff spend setting up the billing system, researching practice nuances, and customizing forms and reports, and that’s why our registration fee may seem like a lot.
- How much are your billing fees?
- Do you have any other fees?
We charge a monthly data maintenance fee of $50 to cover the cost of keeping your practice active in our systems and giving you access to our Practice Management system each month. If your practice charges facility fees, there is an additional $25 fee to cover the cost of the UB-04 feature used for facility billing.
We have a handful of other non-standard fees; we call these the “just in case” fees—we have them just in case your practice needs some above-and-beyond services.
- Is there an extra charge to use your billing software?
No, we include the use of AdvacnedMD—setup of your practice database, access to data, use of the scheduler, and use of online charge slips—in our normal billing and data maintenance fees.
Click here to visit our technology page for more information on the features of AMD all our clients can access, as well as information on additional features available in AMD, such as EHR.
- Do you charge extra to conduct Maternity Benefits Verifications (MBVs)?
MBVs are included in our normal billing fees for patients who birth with your practice. Our benefits department performs benefits verifications, writes estimated out-of-pocket expense letters, and seeks prior authorizations and out-of-network exceptions.
There is only a fee for MBVs and authorizations if the patient leaves care with your practice after fewer than four prenatal visits, or if the patient needs an additional MBV done due to circumstances such as a change of insurance.
- Do you handle just the insurance billing? Or do you do the patient billing as well?
Once claims have processed, we send statements to your patients to inform them of any remaining responsibility they owe for your services. Patient payments are applied in our system to keep track of each patient’s current balance.
For maternity patients, we work to determine an estimate of the patient’s likely out-of-pocket costs for care. This allows the practice to collect a fairly accurate deposit toward care before the patient delivers, and cuts down on the need to follow up with patients after claims have processed. For patients who have made a deposit toward care, IB also calculates refunds due in the case that a patient’s true responsibility is less than the deposit.
Note that IB does not act as a collections agency. We track patient balances and send statements to patients to alert them of balances due, but only a limited number of statements will be sent before a patient’s balance is considered doubtful receivables and recommended to be sent to a collections agency.
- Will you speak to my patients about their billing?
Absolutely! IB acts as your out-of-house billing department—we take your patient calls regarding benefits, claim processing, and patient balances.
- Do you do consulting?
Yes! Our CEO, Marnie Cabezas, loves working with practices—particularly birth centers—on troubleshooting processes, finding billable opportunities, and figuring out how to get the whole team working toward better reimbursement.
- Do I need a Practice Management system to work with Innovation?
Innovation provides the Practice Management system! A database in our Practice Management system, AdvancedMD, as well as access to that data, is included in our standard fees.
- I have my own practice management system; can Innovation work with it?
We occasionally work with Practice Management systems other than AdvancedMD if a practice has already established services with a PM system that is integral to their workflow or business model, but the need to work in a system that doesn’t offer all the tools our staff normally access can be a hindrance to productivity, so we recommend switching over to AdvancedMD—especially because it is included in our standard fees, so it’s no financial burden to switch and will represent savings once the practice no longer needs to pay for the other PM system.