The Code 3 Solution
Our clients have experienced an average cash per transport of up to $559.00 with a per capita household income in their zip code of $24,719.
Our longevity in the ambulance billing business and our rigorous study of the Emergency Medical Services Industry gives us real perspective of the obstacles that challenge any ambulance service to provide quality emergency care.
Identifying and then finding solutions to the challenges of the average ambulance provider is essential to your profitability and, in some cases, your survival.
Identifying Ambulance Industry Challenges
- Costly Department of Health regulation for equipment, training, and licensure with only limited or no government support.
- Rising payroll, payroll taxes, employee benefits, liability insurance, and fuel costs while your organization faces declining insurance fee schedules and adverse payment trends.
- Global economic downturn with out-of-work community members holding no health care coverage resulting in increasing unpaid claims.
- Current adverse banking conditions making it increasingly difficult and cost prohibitive to secure loans for ambulances and equipment.
- Colossal insurance company failures that will not only slow and reduce your cash receipts, but may make it even more difficult to get a short-term loan against accounts receivable to make a payroll.
- Costly increased monthly/yearly maintenance and update fees for EMS billing, EMS billing services and other EMS software used for operation.
- Increasing demands on the US Treasury could result in more rigorous Medicare post-payment review than ever before, crippling the ambulance industry more than ever!
All of these obstacles and many more make it more difficult to operate and even more challenging to ensure quality pre-hospital services to the community.
Solutions that Make Sense:
Your organization must first know its cost per trip. This is easily accomplished on a spreadsheet by listing all monthly expenses and dividing it by the number of trips per month. This makes it easier to understand how and where to begin trimming the fat. Replacing costly vendors with vendors who operate as lean as you do without sacrificing quality is vital to your organizations financial stability.
Code 3 has always been an organization which celebrates frugality rather than over-indulgence. As an example, our organization has long believed in the idea of outsourcing (US businesses only), which has now become common practice around the world. We use a community network of wise and cost-effective labor. We have successfully established relationships with numerous sub-contractors and highly-qualified freelance computer programmers from across the country.
To that end, we maintain low overhead. We do not maintain a staff littered with expensive program developers, sales people, and highly paid executives.