Check verification, check guarantee and remote check deposit programs provide multiple levels of check processing services to insure timely credit of funds to your business account, optimizing cash your flow.
Alexandria, VA (PRWEB) February 28, 2010
The average medical office has over 25% of their invoices beyond 60 days. Medical billing problems continue to plague administrators when copayments and reimbursements do not match projections. Doctors and medical administrators are trapped between creating billing statements or simply writing off their fees with either choice resulting in a loss. Consider what transpires when a small bill is sent to a patient who underpaid a coinsurance payment by five dollars. The medical billing staff must first generate a billing statement, address an envelope, then and add postage. If the bill is not returned with a payment the costs continue to increase and the billing staff will be forced to telephone or invoice again. Thought the medical billing process small costs quickly add up to deprive revenue from services which have already been provided. The medical billing procedure outlined below streamlines the medical billing and payment processes.
1. Place signage in several locations that states: “Payment is required at the time of service”
2. "Accept all credit cards Visa, MasterCard, American Express, and Discover."
If service or billing equipment is needed, Electronic Merchant Systems provides free equipment to medical offices. http://www.elect-mer.com/video-free-credit-card-terminal.php
3. Use medical billing forms capable of collecting credit card information, allowing office administrators to correct for under billing.
Free medical billing forms can be found at Electronic Merchant Systems. http://www.elect-mer.com/medical-billing-form.php
4. Avoid making exceptions to the billing policy.
Additional payment options will significantly increase the probability of immediate payment and will reduce administrative and billing costs. Processing a $10 copayment costs less than a postage stamp! Elective procedures are on the rise and patients are paying more of their own expenses. When medical offices accept credit cards, patients can use this opportunity to pay outstanding bills and also schedule follow up appointments at the same time.
Electronic Merchant Systems sets the benchmark for quality, providing first class customer service for over 20 years. Electronic Merchant Systems medical focus assists: dental, veterinary, chiropractic, optometry, and other medical offices with the tools needed to integrate the billing co-pays, reduce receivables, and improve the patient experience. “Check verification, check guarantee and remote check deposit programs provide multiple levels of check processing services to insure timely credit of funds to your business account, optimizing cash your flow.”
Electronic Merchant Systems