Patient payment can be stressful for everyone involved, from staff in your medical office to the patients themselves. Insurance systems and codes are complex and deductibles are rising — while internal billing teams manage to collect on less than 50% of fees. Those outstanding patient balances affect your cashflow, and worst of all, can have a knock-on effect on medical care.
The solution to these problems is a dedicated medical billing service to manage your accounts receivable in healthcare. With specialists, you can improve communication with insurance companies, the patient experience, cashflow, and financial planning for your practice.
Managing your relationship with insurance companies. Revenetix is experienced at communicating with insurance companies. Our staff is used to deciphering insurance codes and claims. And while your busy medical office might struggle to find the time to chase missing or inaccurate payments, Revenetix is fully dedicated to collecting fees on time and with accuracy. We are in your corner at every step of the process, from contracting to reimbursement and claim follow-up.
Communicating with insurance companies is also a challenge for patients. Both healthcare providers and patients often seriously underestimate how much they will need to pay for care. When estimates are not correct, it’s even more difficult to collect patient balances in a timely fashion. Revenetix transforms the patient experience by helping you to present more accurate estimates before any bills are sent out.
Improving the patient experience. There is an added benefit to our work with insurance companies. As well as improving patient collections, a smooth medical billing process can increase patient satisfaction and practice ratings.
That holds true with all the work Revenetix does for you. Along with taking responsibility for patient collections, we can help you to streamline internal procedures, so that patients follow a simple, efficient process for medical billing. However, this starts with accurate estimates. Then we’ll monitor patient balances, generate statements, and reach out to your patients directly whenever there are outstanding balances.
Patients can easily contact us, too. So if they have questions about medical billing, their statement or the collections process, patients can come straight to us. The staff at your practice will be free to focus their time and resources on what they do best — providing quality care.
Securing cashflow and financial planning. Collecting patient balances is stressful for healthcare providers because it has direct impact on your cashflow and financial security. The stakes are high and you future depends on reliable, consistent cashflow.
That’s where Revenetix comes in. As a specialist company for accounts receivable in healthcare, we can support you with reliable collections and payment plans. Our system for medical billing is highly effective, raising your successful collections to well over 50% of fees. Where patients find it difficult to pay, we work with them to develop a payment plan. As a result, your office will continue to see outstanding balances paid off over time. We also have the expertise to recognize when problems are developing and identify incorrect payments from patients or insurance companies.
If you would like to improve patient collections, patient experience, and the financial security of your practice, then get in touch with us today.