Finding eClinicalWorks® Billing Services With High Collection Rates
After several years of dealing with billing on your own, how successful is your medical practice with collections? One of the biggest headaches for your staff is no doubt having to deal with calling patients who haven’t yet paid their bills.
This whole procedure can quickly waste resources, including ramping up your phone bills. It doesn’t include the cost of printing and sending letters in the mail.
Even with all of this, your collection rates are perhaps at record lows.
It’s time to consider outsourcing your billing services for a new approach.
Calculating Your Collection Rate
If you’re not sure what your collection rate is lately, it’s time to do a little calculation. Simply divide your payments with your charges over a year’s time. Then multiply this by 100.
Those of you within 95% are doing ok, though anything under needs immediate attention. Your average collection rate should move closer to 99%.
Once you start seeing numbers like this, outsourcing is a better route since it only places more pressure on your staff to collect debts.
Through a quality outsourced billing service, you can help alleviate placing so much stress on your medical team.
Achieving Higher Collections
Consider that when you outsource, you’re getting a dedicated team devoted to focusing on medical billing issues. Those with phone services can also help deal with the countless calls you receive from patients asking about their explanation of benefits.
This frees you and your team to do other important tasks you usually don’t have time to do. At the same time, experience from the outsourced staff means finally raising your collections rates exponentially.
Of course, before you choose a billing service, you’ll want to see proof of their collections track record.
Which Billing Service Has the Highest Collection Rate in the Industry?
It’s not always possible to find billing services with overly high collection rates. One reason is it takes special expertise to work with patients and using billing software like eClinicalWorks®. You’re better off finding a service offering expertise with this software, because it’s the most efficient billing platform on the market today.
Integrating this with customer service expertise gives you a powerful team working on your behalf.
Here at EMR Billing Solutions, we provide all these services and can back up our record in providing the highest collection rate in the business.
Visit us to find out more about our expertise and how we can provide superior phone services as well.