Marlboro, NJ (PRWEB) December 13, 2005 –-
Doctors improve their revenue by using Automatic Sweep functionality of UBS lockbox now available to Affinity Billing clients. Such automated investment of patient payments in an interest earning Money Market account adds extra cash to physician and results in a powerful service when combined with record payment performance.
“The doctor’s money must never be idle,” says Erez Lirov, COO of Affinity Billing. “Our clients experience the lowest Accounts Receivable (A/R) beyond 120 days (below 5%), which represents a three-fold improvement over the national median (17.7%), as reported by Medical Group Management Association. This new service reflects Affinity’s commitment to maximize practice profitability and financial control.”
“UBS lockbox offers multiple benefits,” explains Robert Szigeti, the UBS Vice President of investments in charge of Personal Wealth Management. “First, the doctor receives improved accountability and reliability with bi-directional verification of check deposit between the bank and Affinity Billing. No lost checks. Next, physicians see higher processing speed and added interest revenue with check deposit upon arrival in a Money Market account earning interest. The doctor also enjoys added degree of Transparency, which allows personal deposit 24 x7 verification via secure Internet connection.”
Dr. Michael Lewko, Chief Medical Officer, Care Management, at St. Joseph Hospital in Cliffton, New Jersey, agrees “Billing service accuracy and dependability has improved because of highly skillful check processing team and reliable technology. I also receive personal attention by professional bankers in a state-of-the-art wealth management service. This additional service exemplifies Affinity’s methodology, which uniquely addresses all billing aspects and helps us grow profitability, reduce management overhead, and spend more time with our patients.”
UBS AG is a leading global financial services firm with over 68,000 employees worldwide, serving a diverse client base that includes affluent individuals, corporations, institutions, and governments. From investment banking to asset management services, UBS Financial Advisors command a broad array of financial resources to help clients accumulate, preserve and transfer their wealth. UBS practices an all-encompassing approach to investment and financial life – taking into account both assets and liability needs.
About Affinity Billing:
Affinity Billing is a Certified Third Party Billing Service by New Jersey Department of Banking and Insurance. Headquartered in Marlboro, New Jersey, Affinity Billing consolidates billing services, tracks payer performance from a single point of control, shares Medicare compliance rules globally, and creates massive economies of scale. It guarantees improved practice profitability and 100% transparency throughout the billing process. The service leverages comprehensive practice workflow technology, including patient scheduling, SOAP notes, Electronic Medical Records (EHR), and billing.
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