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One of many challenges billing departments face is payment posting. When your billing department receives payments from multiple patients, a billing team member must enter and apply payments same day. And when expanding a practice by adding a new location or increasing patient volume, the health of your billing team often suffers. The time it...
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3 Ways to Make Your Medical Practice Financially Strong in 2020 (Partner Feature) It’s 2020 and now is the perfect time to evaluate the financial health of your clinic. It’s a new year and with it come fresh ways of providing the best patient care, goals for improving patient outcomes, and running a healthy practice....
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It’s tough managing a medical practice. When your job responsibilities include hiring employees, renewing leases, training, and whatever seems to break that day, practice managers tend to prioritize the urgent and not-so-urgent task. Often, tasks like evaluating a merchant statement to determine the cost of accepting patient debit/credit cards, are not high on the priority...
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We examined the patient payment patterns in 2019 of 5 different medical practices in metropolitan areas. The 5 practices comprised of Pediatric and OB-GYN specialties. We selected these practices because they use the full suite of Innovative Billing patient payment products which include: statement processing and mailing, online bill pay, pay by phone, auto posting...
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Why all the fuss about mobile payment? Patient’s increasing mobile smartphone usage in personal, professional, and leisure is driving the medical field’s need to implement mobile payment systems at point of care and post care to ensure patient payment is collected in full. Traditional payments systems like cash, card, and check are slowly decreasing as...
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