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Other Services

Pioneers in the industry, we offer Accounting /Bookkeeping - Process Flow, Healthcare Services-Revenue Cycle Management - Process Flow, Web Research Service, Forms Processing Service, Typesetting Service and Business Transcription Services from India.

Accounting /Bookkeeping - Process Flow
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Established processes at Velan ensure that we meet the expectations of our clients consistently. Here is a brief overview of the process flow practiced at Velan in carrying out accounting and bookkeeping services.

  1. Receive source data from the client in the form of scanned documents or downloaded statements from internet and conduct an initial review. Respond to client on missing source, if any.

  2. Perform necessary activities applicable to the client (listed below, but not limited to).

    • Check entries
    • Bank entries
    • Credit card entries
    • Reconciling bank accounts with software and credit cards
    • Reconciling even client’s check books to software balances
    • Payroll processing
  3. Review financials, both technical and conceptual, to ensure quality.

  4. Deliver all necessary financials to clients with necessary comments and observations within agreed time frame through secured channels.

  5. Respond to any feedback to meet clients expectations.

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Healthcare Services-Revenue Cycle Management - Process Flow
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Process Flow Established processes at Velan ensure that we meet the expectations of our clients consistently. Here is a brief overview of the process flow practiced at Velan in carrying out healthcare revenue cycle management.

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Web Research Service

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Velan offers internet related services including web research, data harvesting, and screen scrapping which have greatly added value to our clients globally. Our operators have clocked over 30,000 hours of internet research work.

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Forms Processing Service

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Velan offers indexing service to capture critical information from structured or unstructured forms. Velan can capture the information quickly and accurately. We currently process thousands of form each day, including: Medical claims (HCFA, UB etc.), Invoices, Vital records, survey forms, Tax returns, Credit applications, Mortgage Applications, Warranty cards etc.

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Typesetting Service

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Velan's typesetting services like XML/SGML/LaTex tagging and conversion services help preparing documents for large scale publishing, Updating and internet presentation.

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We can convert voice recordings to structured reports. Our experienced transcribers can transcribe recordings of meetings, conferences, seminars, focus group, interviews and have skills to produce accurate transcripts. We do customized reports as per the requirements. The input format shall be of voice files and document containing instructions. Our output usually will be a Word document, text file or as per client’s requirements. We offer quick turnaround time service and take utmost care for the confidentiality of both voice as well as data.

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Medical records, including diagnostic and treatment information such as lab results, medication and radiology results are the pulse of the healthcare industry. Health Information Managers have a critical need to effectively manage and store these records, which contain massive amounts of patient specific information. We facilitate in converting these records into electronic format which enable them to store, process and retrieve on a rapid time frame.

Our major service offerings include :

  • Document Scanning, data Conversion and uploading services
  • Records Management and Storage

Highlights of this service offerings,

  • We have experience in processing Healthcare documents
  • We can convert from any source to required electronic format

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Engineering Services

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Velan has a proven track record of delivering quality front-end engineering, design and testing services to the PCB industry worldwide. With engineers over 10 years of experience, Velan offers PCB design services for flexible and rigid barods and CAM services from Inspection to CNC programming. Platforms like CAM350 and ParCAM are being used to deliver CAM tooling service.

Our design service starts all the way from schematic capture to foot print creation, component placement, rout and documentation. Our offshore design engineers can work in co-ordination with customer's on-site engineers in delivering error free design.

Velan also offers services related to bare board testing.
Velan offers its services from its offshore delivery center at Coimbatore, India. Try our Free Trial offer to see how we can serve you !

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Velan has an impeccable record of delivering remote bookkeeping services to growing and changing businesses in all industries. Velan's outsourcing services are focused at helping customers with the accounting requirements and significantly reducing the operating costs of their finance department.

Headed by CPAs, Velan has a team of accountants with strong accounting principles to offer bookkeeping and accounting services for CPAs, Firms and individuals. Proven process migration procedures allow us to successfully carry out outsourced accounting and bookkeeping activities remotely. The team at Velan has considerable hands-on expertise and is conversant with the latest guidelines and pronouncements on US GAAP, IAS and SEC regulations.

Established processes coupled with redundant infrastructure allow our well-trained team to deliver reliable and accurate service. Bookkeeping and accounting services are offered from its offshore center in Coimbatore, India.

Service Offerings
Accounting is a vital processes in running any business efficiently and profitably. Our service offerings cater to a wide spectrum of clientele across the globe. Our service includes all four stages of accounting processes starting from recording finanacial transactions in the books of business, classifying the transactions into meaningful and orderly types, summarizing the accounting data into useful reports and interpreting the financial data to assist decision making.

With our Bookkeeping service, we assist our clients to record their financial transactions using a software package of their choice. Some of Velan’s accounting services offered and reports generated include:

  • Entry of transactions Assets /Equipment Ledgers
  • Journal Entry General Ledger
  • Expenses Ledger Payroll
  • Accounts Receivable Services Accounts Payable Services
  • Bank Account Reconciliation Credit Card Reconciliation

Working Models: We have various working models, and there is always one that suits your requirements.

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Data Security

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We at Velan understand the importance of maintaining the confidentiality and security of our client’s data. We have physical, administrative and technical safeguards in place to ensure data security and confidentiality. Some of the safety measures are:

Administrative Safeguards:

  • Definite organizational security policies and procedures
  • Designated information security officer
  • Employee background check
  • Confidentiality and non-disclosure agreement with employees
  • Employee training on information/data handling
  • Role based file routing/access control

Technical Safeguards:

  • Role based file access
  • Regular virus check
  • Encrypted data transmission
  • Audit/Access trail maintenance
  • Periodic auditing
  • Role based file routing/access control

Physical Safeguards:

  • 24-hour Manned Security Desk
  • Restricted access to duplicating facilities like floppy, cd & printers)
  • Declaration of media & devices during entry and exit
  • Secured workstation
  • Backup, media & device Control Policy
  • Video surveillance systems

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Headed by senior chartered Accountants with over 10 years experience in accounting & bookkeeping, our team of bookkeepers and accountants offer remote accounting services. Our team of Senior Accountants and Junior Accountants is well versed with multiple versions of popular accounting packages like QuickBooks, Sage etc.

Our remote team is flexible enough to maintain your existing system setup, accounting styles and preferences to make the outsourcing seemlessly integrated with your system. Established processes and good communication methodlogy would surprise you as if we were present next door. Our methodical approach for posting accounts ensures that you get the quality you can depend upon. Our virtual accountants quickly adapt to your way of working and would feel as if we were part of your staff working just for you.

Accounting Service Offerings
We prepare reports that enable the business owner to better analyze their revenue and expenses. Some of our accounting services include:
Income Statement (Profit & Loss) Balance Sheet Reporting
Cash Flow Statement Trial Balance
Financial Analysis (Ratio Analysis, P/V Ratio, NPV) Monthly/Quarterly Year End Review
Inventory Accounting Fixed Assets Process Reports

Our flexible pricing model allows you to hire our services when there is a need and absolutely no overheads associated with employing our virtual service.

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We have proven methods of carrying out outsourced accounting and bookkeeping services. There are different types of remote working models to suit individual client's convenience.They are:

Offline:

Scan the source documents & upload your books to the secure server
Velan’s bookkeepers update your books using the software of your choice.
Updated books are transferred on to the secure server from where you can download on to your system

Remote Desktop Based:

Scan the source documents in your server or File cabinet
Our Bookkeeper connects to your computer using a remote desktop access service like GotoMypc.Com, Netlink Solutions or Secure VPN
You find the books updated on your system after the agreed turn around time

Online:

Scan the source documents & upload to the secure server or Fax them to our US fax Number.
Our Bookkeeper logs on to Online Accounting Software (e.g. quickbooksonline.com) and update the books
You access your online accounting system, 24x7 to review the updated books.
Comparision of Working Models
Working Models Location of source information Ideal For Data access by you Data Access by Velan
Offline At Velan's office Clients who want work done faster Download from server Login to PC at our office
Remote Desktop At your office Clients who do not want information to leave their office At your own computer Login to PC at our office
Online Bookkeeping software provider Clients who need access anytime View Online Login to Online Bookkeeping Software

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Our IT infrastructure is the foundation of our business. The existing infrastructure allow us greater mobility and real time date access, and is adaptive, secure and allow us to run our business better, faster, and more efficiently.

  • We ensure that our workstation technology is current, secure, and available around the clock and around the globe.
  • Enhanced network monitoring via standard network monitoring tools.
  • Augmented call center capabilities resulting from the simplified design and flexibility of IP telephony.
  • Greater network-to-network and user-to-network capabilities.

Workflow Management Tool
We use our in-house workflow management tool to simplify the medical billing process internally.

Effectiveness of the tool:

  • Client / Server application installed at desktops
  • Improves communication and information sharing
  • Measures, analyses and streamlines the productivity
  • Tracks files that we receive and send to clients for charges & payments
  • Used to analyze & call accounts, put reminders and send weekly reports to clients on the work we did for the week
  • Track productivity gains
  • Identifies appropriate follow-up step

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We at Velan understand the importance of maintaining the security of confidential patient health information and strengthen compliance with HIPAA regulatory standards. We have physical, administrative and technical safeguards in place to ensure data security and confidentiality. HIPAA and Billing Compliance:
Ensure the security of patient health information and maintaining compliance with HIPAA regulations.

  • Administrative Safeguards:
  • Definite organizational security policies and procedures
  • Designated information security officer
  • Employee background check
  • Employee training on information/data handling
  • Role based file routing/access control

Technical Safeguards:

  • Role based file access
  • Regular virus check
  • Encrypted data transmission
  • Audit/Access trail maintenance
  • Periodic auditing
  • Role based file routing/access control

Physical Safeguards:

  • 24-hour Manned Security Desk
  • Restricted access to duplicating facilities like USB devices, cd & printers
  • Declaration of media & devices during entry and exit
  • Secured workstation
  • Backup, media & device Control Policy
  • Video surveillance systems

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Follow up with Carriers for Outstanding Claims:

  • We run aging reports to categorize [Oldest to Latest & Highest to Lowest] outstanding claims and follow-up with carriers.
  • We help improve revenue realization.

Denial Management:

  • We conduct thorough analysis of every denied claim, make the necessary corrections, and follow-up to convert it into a clean claim.
  • We help improved revenue realization.
  • We help introduce preventive measures for future billing.
  • We maintain a turnaround time of 48/96 hrs for denials

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Payment Posting:

  • We post payments received in all forms i.e. EOBs, EFTs received from carriers, banks, credit cards and cash payments received from patients. This helps our customers to:
  • Post payments timely to calculate revenue realization
  • Help resolve payment-related queries
  • We maintain turnaround time of 48/96 hrs for posting payments in various forms.

Payment Review:

  • We conduct Payment Reviews periodically.
  • Track payment patterns
  • Check discrepancies in payments
  • Facilitate payment realization at the procedural level
  • This analysis helps our customers introduce corrective measures to improve revenue realization by reducing payment denials.

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Coding of Medical Charts:
Our Medical Coding Team ensures correct Procedure & Diagnosis Codes that are identified from CPT and ICD-9CM manuals on the principle of “Code as per the documented information”.
Selection of appropriate codes helps our customers to get paid accurately for services delivered.
It also avoids the possibilities of under-coding or over-coding of reports which may further lead to loss of revenues.
Training at regular intervals helps our Coders improve their skills, which in turn benefits our customer.

Charge Capture:
We capture the charges accurately through a team of experienced professionals.
We help our customers to submit clean claims.
We reduce the lead time of claim submission.
We reduce claim denials due to incorrect details.
We maintain a turnaround time of 24/48 hrs for capturing charges.

Claim Generation & Submission:
We process electronic & paper claims.
We generate claims within permissible filing limits
We reduce delays in claim submission.
We maintain a 5-day turnaround time for claim submission.

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Velan is a premier provider of healthcare revenue cycle outsourcing services to medical billing and coding providers, payers, hospitals, managed care providers and individual physicians in the US. The Revenue Cycle Management directly affects the cash flow for the healthcare providers. The long cycle of obtaining revenue from payers is one of the major causes of higher costs along with unpredictability of payments.

Velan's Revenue Cycle Management practice ensures minimizing errors and denials to facilitate quick turnaround times. The focus is on improved cash flow and decision making. Velan has the expertise and solutions that improve revenue cycle metrics. Improved metrics produce accelerated cash flow which allows providers to improve patient care. Velan offers the following service lines in Revenue Cycle Management:

Patient Enrolment Eligibility and Verification Pre-Authorization / Pre-Certification
Coding of Medical Charts Charge Capture Claim Generation & Submission
Payment Posting Payment Review Follow up Outstanding Claim
Denial Management

Velan’s Value Proposition:
Less than 30% of total account receivable for more than 30 days old
Only 15% billed charges are considered past due
Reduce the AR over 90 days to less than 10% of the total AR
Improved revenue and cash flow

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Patient Enrolment:
We capture patient’s demographic information accurately to.
Submit Clean Claims to various insurance carriers
Reduce delays in claim submission [we maintain a turnaround time of 5 days for claim submission] Rigorous controls in the data capture process helps to ensure 100% accuracy for critical information

Eligibility and Verification:
We verify the Insurance Eligibility and Coverage to.
Get paid better to reduce denials due to terminated coverage
Improve Customer Relations

Pre-Authorization / Pre-Certification:
We coordinate with insurance carriers to get pre-authorization or pre-certification identity details to manage receivables better and collect dues on time from insurance carriers
Receive timely Pre-Auth / Pre-Cert Id details from Insurance carriers
Get paid on time

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Data Entry

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Velan specializes in capturing and processing data from diverse input sources, such as scanned images, fax, Web forms, and e-mails. With support of technology our data entry staff members ensure excellent conversion accuracy and fast turnaround time. Our Quality Assurance methods includes techniques like double entry, look-up table search, logical checks, Field Validation, proofreading etc., which ensures 99.95% accuracy in all our deliverables.

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We, at Velan, have been delivering Remote Managed Services (RMS) successfully to clients across the globe. Operating out of our offshore Remote Management Center located in Coimbatore, India, our RMS services manage your IT infrastructure. Our outsourcing services are designed to increase operational efficiency of our clients and relieve pressure on their existing resources.

We deliver 24x7 technical support services with response and resolution times that will meet your requirements. Our offerings cater for the wide spectrum - SOHO, SMBs, ISPs, Data Centers and Webhosting Companies.

Our technical support services include monitoring and managing:

Servers (Windows, Linux and FreeBSD) Databases
Networks Web Sites/ Servers / applications

With outsourced tech support, you enjoy cost-savings over monitoring and managing your IT components. You receive prompt reports / notifications. We add value by helping you to optimize the resources.

You can engage us in various working models. Co-souring, partnering with your existing team, or complete outsourcing. We can work together to come up any customized model to suit your requirement

We have a very flexible business model. Other than the standard FTE count, hourly and ticket based billing, we are open to models which can be tailored to you.

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Some of the popular software accounting software packages are listed below. We leave the choice of choosing a suitable one to our clients.

QuickBooks:
QuickBooks by Intuit has its fair share of excellent features. QuickBooks allows you to customize the program to match your business type: service-based or product-based. The accounting software molds to those specific business needs. QuickBooks is easy to use. The program has simple navigation toolbars that help you find your way around quickly.

For more information visit, quickbooks.intuit.com

Creative Solutions Accounting:
CS Professional Suite is the most technologically advanced suite of products and services designed by accountants for accountants to manage workflow processes in professional accounting firms. By incorporating seamless integration, paperless capabilities, and the Internet, the CS Professional Suite enables firms to achieve unprecedented levels of productivity and profitability, while providing the ultimate in service to clients.

For more information visit, http://cs.thomsonreuters.com/

MYOB:
MYOB is an international provider of accounting software, payroll software and business solutions that liberate business owners and accountants from the burden of day to day administration, empowering them to achieve business success. The latest version ranks as the most powerful and customizable desktop accounting program available for small businesses.

For more information visit, www.myob-us.com

Peachtree:
Peachtree is recommended for small business users who are looking for a premium software package at an affordable price. Businesses using Act! as their contact management software may want to use Peachtree for integrated customer information tracking across both software programs.

For more information visit, www.peachtree.com

Quicken:
Quicken has the ability to connect many financial institutions; a simplified interface; one-step account updates; a calendar that spells out your daily financial status; pop-up insights of transaction details; an affordable online backup; storage for images of receipts and invoices; scanner support; local encryption of your data; Windows and Mac versions; and free, online-help chat.

For more information visit, quicken.intuit.com/

Sage:
This software ranges from accounts, payroll, forecasting and business intelligence to customer relationship management, e-business and help for start-ups.

For more information visit, www.sage.co.uk/

Accounting Directory : Accountinglisting.net is an account directory including accounting associations, auditing, bookkeeping, forensic accountant, payroll services, payable and receivable and useful information on this site

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At a fraction of the cost of hiring a full-time bookkeeper and accounting team, you have a full-time access to your virtual bookkeeper. Normally, our clients call or email their virtual bookkeeper regularly with questions or comments. Your virtual bookkeeper is much like your own employee, without the expense, headache, and uncertainty of hiring an in-house person.

Upon identifying your exact need, software platform used and turnaround time, we assign you one or more dedicated bookkeepers. You send all the input documents and instructions to us electronically by fax or email. The remote virtual bookkeepers logs-in into your own PC through a secured channel or work from a local PC and send you the portable files everyday.

Benefits of employing our virtual bookkeepers / Accountants
- Instat access to qualified full-charge bookkeepers / Accoutants
- Trained full-time bookkeeper / accountant supported by CPAs
- Absolutely no overheads
- Quick turnaround
- Scalable with short notice

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Full-Charge Accounting Service
For businesses with more complex bookkeeping and accounting needs, Velan recommends full-charge accounting service. This service is designed to handle all your daily bookkeeping and financial record-keeping, as well as your month-end accounting needs, plus the preparation of your financial statements.

In this service, you get full-time access to your bookkeeper, who manages your books and business finances. In a typical full-charge accounting service, we

  • Post daily transactions inculding entry of all bank, credit card, or other transactions
  • Reconcile bank transactions.
  • Enter and process accounts payable / receivable.
  • Process payroll and related tax returns.

Bookkeeper provides you with monthly financial reports such as Profit and Loss Statement, Balance Sheet, Cash Flow Statement, General Ledger

Month-End Bookkeeping Service
If you are running a small business and want more control over the financial state of the organization, but the cost of hiring a full or part-time bookkeeper is prohibitive, our Month-End Bookkeeping Service is ideal for you. We'll reconcile your bank accounts and credit card statements, and provide you with key financial reports reflecting the health of your business.

In this service, you get full-time access to your bookkeeper, who manages your books. The bookkeeper reconciles your business bank/credit card statements in the software of your choice. Bookkeeper also provide you with monthly financial reports such as Profit and Loss Statement, Balance Sheet, Cash Flow Statement, General Ledger etc.

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Electronic storage and retrieval of documents depends on the quality of indexing. Velan has experience with a wide variety of coding and indexing techniques and our experienced operators handle the most critical projects.

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