1. How long does it take to get started with IATRIX?
*We will immediately begin working with you and have you up an running in just a few short weeks.
2. How much does the the program cost?
*There are no up-front costs. After you receive your first cash advance, IATRIX will charge a small fee to manage the entire process. In fact, the fee is so minimal, that it is less than having all of your patients pay by credit card.
3. What if I don't have an immediate cash flow challenge?
*The cash advance comes with such a low cost, it is advantageous to to receive your funds in 48 hours, rather than waiting 45 to 120 days for reimbursement.
4. How does the algorithm handle denials?
*Denial rate and effect upon advancements is calculated historically and reported. Appeals can be automated through artificial intelligence provided by the full suite of IATRICOMP services if desired, which results in up to 7% net revenue enhancements.
5. Does this program help with billing cycle?
*We are partnered with a Revenue Cycle consultant, who can render billing cycle efficiencies and accuracies to expedite clean, prompt submittals.
6. Are Medicare and Medicaid included?
*Yes, as desired. The panel of payers to include is adjustable.
7. Is Workers Compensation included?
*Yes, handily and effectively!
8. What is the contract duration with IATRIX?
*Contracts are negotiable, but are often 3 years with auto-renewal available.
9. What if payer contract changes?
*The algorithm is live and constantly updated and can anticipate contract changes. Furthermore, contract compliance can be tracked and reported to the CFO.
10. What is the transaction fee?
*The fee is determined and proposed after underwriting and usually much less than a credit card transaction. Affordability and convenience is on your side!
11. What is required by the hospital staff to engage with the program?
*There is no work required from the hospital staff. IATRIX does all of the work and guides you through the process with no up-front costs!
12. What if our hospital has bad credit? Can we still use IATRIX?
*Absolutely! Your credit quality does not impact the amount of money our funding sources will advance to you. With our algorithm predicting the timing and value of medical claims, our funders can advance funds to you without risk because they know when and how much they will be reimbursed at all times.
13. How does IATRIX effect my hospital's credit quality?
*IATRIX actually helps you dramatically improve your credit quality! When using IATRIX, you will receive a constant stream of advanced cash against your daily medical claims. Therefore, you will now have the cash to pay your bills and vendors on time or, in many cases, early!
14. Does your program help hospitals take advantage of vendor discounts?
*Yes, in fact, you will now be able to pay your vendors early. Therefore, you can take advantage of 2/10 Net 30 vendor discounts. Consequently, the amount of money you save from these discounts virtually pays for the IATRIX program!
15. How will my hospital's line of credit be impacted when IATRIX is in place?
*Due to our low rates and costs, our program can work as a supplement to your current line of credit, or completely eliminate the need for a high cost line of credit.