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Why Do So Many New Businesses Fail?

Published on August 20th, 2014

Why Do So Many New Businesses Fail

Patrick Phillips, Founder and CEO of American Business Systems and Eric Ogea, Director of R&D, discuss this week’s topic: why do so many new businesses fail… and how ABS has addressed these failures with a complete success system. You’ll hear many success stories from across the nation… people just like you who didn’t have any experience in the healthcare industry, signing up clients fairly quickly after completing their training with ABS.

Published in categories: Uncategorized

Learn How to Start Your Own Business in the Medical Field

Published on August 14th, 2014

Start Your Own Business in the Medical Field

Start Your Own Business in the Medical Field with ABS Licensee Chris McGaughey from Arkansas, interviewed by ABS CEO Patrick Phillips. Chris talks about how he went through training in December of last year and is excited to be building a lucrative, recession proof business in the healthcare industry! Chris also shares his business background, why he decided to go with ABS and medical billing in general and the fact that he has used sales reps to reduce his ramp up time.

Published in categories: Entrepreneurship, Marketing, Training, Webinars

Is This Medical Business Opportunity Too Good to Be True?

Published on August 7th, 2014

Is This Medical Business Opportunity Too Good to Be True?
medical business opportunity
On this webinar, Patrick Phillips, Founder and CEO of American Business Systems, will cover the most common reasons why people say our medical billing opportunity is too good to be true, such as:

- All you need to know is taught in five days?
- I don’t need any billing or coding background or training?
- I can bill for the doctor for less than she can do it herself, in-house?
- I don’t need any sales experience?
- I don’t need to have all the answers, including references?
- I can get more money, faster for the doctor?
- I have lifetime access to your support, with no additional costs?
- There are no ongoing royalties or fees to ABS?
- I can actually increase the doctor’s revenue?
- This year is a “window of opportunity”?

Are you thinking about starting your own business? Being your own boss? Having more time with family, or just tired of working long hours?

You should consider a starting a business in healthcare! During this webinar you will find out why this industry is recession-proof and poised for continued growth like no other.

You will be providing Revenue Recovery for doctors. They all need help right now and there are not enough trained medical revenue specialists to help all of them.

Published in categories: Entrepreneurship, Marketing, Support, Training, Webinars

How to Market to Doctors – and Make Six Figures

Published on July 31st, 2014

Learn how to market to doctors!

How to Market to Doctors

Patrick Phillips, Founder and CEO of American Business Systems talks about how he has developed a business package that enables any person wishing to start a business in healthcare to become self sufficient and reach many goals such as more free time, work less hours, and make six figures! If you are thinking about a business in medical revenue management, you need to watch this webinar!

Published in categories: Entrepreneurship, Marketing, Support, Training, Webinars

You Will Not Believe What These People Had to Say….

Published on July 28th, 2014

… About Starting a Medical Business!

Starting a Medical Business

Have you ever thought about starting your own business? These new business owners made the decision to start a new medical business in the healthcare industry, providing revenue cycle management for doctors. There is a huge demand in the coming decade for these services! ABS can help you with technical training, marketing assistance, and lifetime support!

This video was shot during the graduating ceremony of our July 2014 class. 21 people arrived not knowing exactly what we had in store for them. We taught them everything they needed to know in order to launch their business FAST. By the end of class on Friday everyone was excited to start their medical business and leave their old jobs behind!

Call ABS at 866-565-8413 today!

Published in categories: Uncategorized

How to Start Your Own Healthcare Business

Published on July 24th, 2014

Looking for information on how to start your own healthcare business? Be your own boss? Have more time with family, or just tired of working long hours?

You should consider a starting a business in healthcare! During this webinar you will find out why this industry is recession-proof and poised for continued growth like no other.

You will be providing Revenue Recovery for doctors. They all need help right now and there are not enough trained medical revenue specialists to help all of them.

After you’ve watched this webinar, click the “Take e-Tour” button to get a more detailed look at our program!

How to Start Your Own Healthcare Business

 

Published in categories: Entrepreneurship, Industry News, Marketing, Support, Webinars

Start a New Business FAST with this Amazing Technology

Published on July 17th, 2014
Young woman at home with laptop

Start a New Business FAST

Start a New Business, FAST with ABS. In this week’s webinar, head of R&D at ABS, Eric Ogea, chats with Adam Phillips, President of ABS about the technology that licensees are using to WOW doctors and get them signed up as clients. They also share some great statistics from BlackBookRankings.com like:

- 91% of medical office managers feel that if they continue using outdated software, especially software that doesn’t have an integrated EHR, they will have to shut down completely, or sell off to a hospital.

- 90% of medical office managers agree that a seamless revenue cycle management, electronic health records and practice management system would ensure long term independence and greatly improve productivity and profitability.

- 89% of doctors surveyed said that their billing and collections systems/processes need upgrading!

- 21% are considering and upgrade of their revenue cycle management systems in the next 6-12 months.

- 88% expect to upgrade in the next 6 months.

- 42% of small practices (1-5 doctors) plan to outsource their billing in the next 12 months!

Sign up for the next live webinar here: http://www.absystems.com/webinars/

Published in categories: Entrepreneurship, Marketing, Support, Training, Webinars

How to Be a Successful Entrepreneur

Published on July 10th, 2014

How to Be a Successful Entrepreneur – Interview with ABS Licensee Juliana Madsen

How to Be a Successful Entrepreneur

Julianna Madsen with Son Miller, Age 5

Adam Phillips, president of ABS chats with Julianna Madsen about how she left the corporate world and started her own medical billing and revenue management business. Julianna left a 6-figure corporate job with Turner Broadcasting in 2010 and started working full time in her medical billing business. She very quickly landed some clients and now has a staff of 3 helping her and over a dozen clients!

Published in categories: Entrepreneurship, Testimonials, Webinars

Is This a Good Time to Start a Business?

Published on July 3rd, 2014

Join Dirk Davis and Patrick Phillips discussing entrepreneurship and opportunities afforded an individual by owning their own business.

Is this a good time to start a business? Is Medical Billing a good choice for you?

You should start your own business …
- for job security
- while you still have a job
- to secure your legacy
- so you can work from anywhere
- because some industries are booming
- if you can provide solutions
- if your chosen business is hassle-free
- if you can help others save or make more money
- if you can start earning a six-figure income
- because college is a waste of time and money
- you can keep more of what you earn
- only if it is risk-free

Published in categories: Entrepreneurship, Marketing, Training, Webinars

How to Comply with HIPAA … and not lose your job.

Published on June 30th, 2014

Comply with HIPPA

Published in Billing Coding Magazine – June 2014 Issue

By: Patrick Phillips

“I know HIPAA is required, and I know it’s important, I just don’t know what exactly HIPAA requires me to do.”

Don’t feel bad if this statement sounds all too familiar. Many doctors, nurses, office managers, and healthcare professionals share the same confusion over HIPAA compliance. Unfortunately, noncompliance with the HIPAA standards puts organizations at greater risk now than ever before.

Who is responsible for HIPAA?

Every Covered Entity (CE), Doctor’s office has to name someone as Compliance officer; it could be a doctor, but most of the time it’s the office manager. If HIPAA compliance is one of your responsibilities, violations may put your employment, career, and livelihood at risk. Fines range from $100 to $50,000 per incident.

Recent legislation has increased the government’s ability to enforce compliance with aggressive audits and fines. September 23, 2013 marked the first day of audits and you may be in the HHS audit crosshairs. The Office of Civil Rights (OCR) is auditing 5% of all CEs and their Business Associates.

Here’s what HSS OCR Director Leon Rodriquez says: “An ounce of prevention is worth a pound of cure. That is what a good risk management process is all about – identifying and mitigating the risk before a bad thing happens. Covered entities of all sizes need to give priority to securing electronic protected health information.”

And yet, according to their own estimates, over 70% of all practices are NOT compliant. Are you? Are you sure?

Failure to do so can be risky. Ask the owner of a Massachusetts three-doctor practice that was recently fined $150,000 because someone in the office had backed up patient records to an unencrypted thumb drive that was stolen.
Nationwide, over 27,000,000 medical records have been exposed in the last three years. That’s more than the populations of New York City, Los Angeles, Chicago, Houston, Denver, and Seattle combined.

“Changes resulting from the final omnibus rule not only greatly enhance a patient’s privacy rights and protections, but also strengthen the ability of [the OCR] to vigorously enforce the HIPAA privacy and security protections, regardless of whether the information is being held by a health plan, a health care provider, or one of their business associates,” says Mr. Rodriquez.

Business Associates can include labs, collection agencies, confirmation/messaging services, IT partners, consultants, cleaning crews, and other unsupervised after-hours services, billing companies, accountants, attorneys, and independent contractors.

Compliance with all HIPAA regulations will now be enforced through random audits, vigorous pursuit of claims for breaches, a sympathetic court system, and public censures.

HIPAA’s three rules

Most people in the healthcare industry are familiar with the purpose of HIPAA compliance, but not everyone realizes the HIPAA standard is actually a combination of three separate rules-the Privacy Rule, Security Rule, and Breach Notification Rule.

1. Privacy Rule – The Privacy Rule addresses appropriate Protected Health Information (PHI) use and disclosure practices by healthcare organizations, and designates the right for individuals to understand and control how their medical data is used.

2. Security Rule – The Security Rule sets standards for protecting PHI that is stored or transmitted in electronic form. The Security Rule is designed to be flexible and scalable to accommodate healthcare organizations of all sizes and levels of technology sophistication.

3. Breach Notification Rule – The Breach Notification Rule details the actions that must take place and the parties that must be notified in the event of a PHI breach.

The opportunities for unauthorized disclosures are great and can appear in many ways.

  • Untrained staff may accidentally disclose protected information
  • Patient records piled on the receptionist’s desk where other patients make co-pays
  • Physician staff callin prescriptions or schedule patient appointments for tests within earshot of other patients or visitors
  • Protected information is transferred electronically (like through email) without encryption
  • A laptop containing protected information is stolen from your outsourced collection agency — you are held responsible!
  • A breach of confidentiality unintentionally occurs but goes unreported
  • Computers are accessible to non-essential users or monitor screens are visible to patients and visitors
  • Due to a lack of proper HIPAA training, a new member of your staff disposes of extra photocopies of patient records without shredding

What happens if you are not compliant?

Here are just a couple ways that noncompliance with the HIPAA standards can negatively affect a covered entity:

1. DATA Compromise – Few things are more devastating to a healthcare organization than the effects of a PHI data breach, which may include:

  • Financial penalties: On top of the severe fines levied by the HHS, the HITECH Act also gives state attorney generals the ability to impose civil penalties on behalf of state residents for violations of HIPAA Security and Privacy Rules.
  • Negative publicity: Breaches greater than 500 records require covered entities to not only notify patients affected by the breach, but also the media. This damages brand equity and publicly embarrasses the organization.
  • Loss of patient trust: According to a recent survey, 76% of patients state they will stop dealing with an organization responsible for a privacy breach. Losing 76% of your customers will definitely make a noticeable impact on revenue and inhibit your ability to provide quality healthcare.

2. HHS AUDITS – September 23, 2013 marked the deadline for covered entities to comply with HIPAA standards, and the HHS has begun to audit healthcare organizations and assess fees of up to $50,000 per day per violation.

What could trigger one of these audits?

  • A breach or complaint of a breach
  • A complaint of a privacy or security violation by anyone, including patients and current or former employees (Have you ever had an angry patient? Maybe a disgruntled ex-employee?)
  • Filing for EHR reimbursements
  • OCR just feels like it! The OCR has stated on multiple occasions that they will conduct audits on randomly selected covered entities. So even if you are hiding in the back row, the OCR may still call you to the front of the class.

What could happen in the case of a breach?

  1. Fines and penalties ranging between $100 and $50,000 – even for inadvertent breaches
  2. In serious cases, loss of accreditation, loss of license, dramatically higher fines, and even imprisonment are possible
  3. Your reputation and patient confidence may be lost
  4. You face the threat of litigation by affected parties
  5. Your business may be interrupted by the impact of a HIPAA violation
  6. Third-party payers may delay processing, suspend, or deny claims

What can you do to make sure none of the above happens to you?
Compliance does not have to be hard. It is just a set of rules. All you have to do is know the rules and follow them. That means having Privacy and Security policies and procedures that will protect PHI.
Although you can do it yourself, using purchased solutions or an independent company or consultant to do a risk analysis or “gap assessment” is faster and more reliable. These security experts can find out what, if any, deficiencies you might have in your practice.
The purpose of the risk analysis is to help covered entities identify (and document!) potential security risks (i.e. threats and vulnerabilities). Every security effort your organization makes will be determined by your risk analysis, so it’s critical to conduct a thorough and accurate assessment.

Some generally accepted steps that outline the process are:

  1. Identify the scope of the analysis
  2. Gather data
  3. Identify and document potential threats and vulnerabilities
  4. Assess current security measures
  5. Determine the likelihood of threat occurrence
  6. Determine the potential impact of threat occurrence
  7. Determine the level of risk
  8. Identify security measures and finalize documentation

There are several reasons why you should take the risk analysis very seriously.

First (and most obvious), this process will help you identify your organization’s greatest areas of risk.

Second (not so obvious but equally important), in the event of a data breach or random audit, covered entities that have not conducted a thorough and accurate risk analysis can expect to be hit with severe financial penalties.
A competent consultant should be able to suggest solutions to help you achieve compliancy.

However, risk assessment does not automatically make you “HIPAA compliant.” Risk assessment is just a checklist of things you should be doing to maintain privacy and security of patient information and to help you achieve compliance where you are lacking.
The next important step is to be able to illustrate, on a regular basis, your total compliance plan and due diligence, including any corrective actions you have taken to make sure you are complying with the checklist.

Make sure they are willing to work with you to maintain your compliance by training each of your staff members and make sure each of them are tested to show their personal understanding and compliancy with HIPAA.

A competent consultant will also work with your Business Associates to ensure that each of them is complying with HIPAA as well. When in doubt, they should require BAs to prove their compliancy. Remember, you are personally responsible for breaches that occur through your BAs.

Conclusion – To be safe, get help

The HHS has stated on multiple occasions that they will make examples of healthcare organizations that put PHI at risk. Given the stated importance and heavy consequences associated with the risk analysis, you may want to consider working with a HIPAA security expert to get and keep your office compliant.

Licensees of American Business Systems can help offices comply with HIPPA so that no one in the office has to lose their job.

Published in categories: Founders Blog, Industry News, Training, Webinars
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