Supporting your practice
Accounts Receivable
Supporting your practice
Take Your Practice to the next Level
We provide support for:
- Physicians
- Providers
- Labs
- DME Companies
Definition
Accounts receivables (AR) can be defined as money that is owed to a company by its customers. In the medical field, this usually refers to the amounts billed to patients for services rendered that have not yet been paid
Complexity
Medical billing and collections have become increasingly complex, with many steps involved in the process.
Issues
Practices often face issues with AR. It is important for practices to stay on top of their AR or hire someone to do so in order to avoid financial difficulties.
Supporting your practice
Our Solution
At our medical billing and collections service, we understand the importance of getting paid for the services you provide. We will work tirelessly to help you get paid quickly and efficiently by sending documentation to insurers, checking claim status, reviewing policies, contacting insurers about complex issues, and discussing balances with patients. Contact us today to learn more about our services or to get started!
In conclusion, it is evident that accounts receivable play a crucial role in businesses, particularly those in the medical field. Medical billing and collections have become increasingly complex, making it difficult for practices handle everything on their own. This is where our medical billing and collections service comes in – we are here help ! We understand how important it is get paid quickly and efficiently, which is why we go above beyond tackling even the most complex issues. So if you’re struggling to keep on top of your accounts receivables, don’t hesitate reach out today ! We would be happy discuss your options further.
Supporting your practice
Importance
Why is it important for companies, particularly those in the medical field, to focus on accounts receivable? There are a few key reasons:
- It helps businesses stay afloat financially – When money is owed to a company but has not yet been paid, this is known as accounts receivables. In order for businesses to stay solid and growing, they must deal with AR or hire someone who can do so on their behalf. This ensures that businesses are able to meet their financial obligations and continue running smoothly.
- It contributes to positive cash flow – Positive cash flow is crucial for businesses of all sizes. Cash flow refers to the timing of when money comes into and goes out of a business. Accounts receivables play a role in cash flow because they represent money that has been earned but has not yet been received. This means that if a company has strong AR management, they will have positive cash flow as well.
- It improves relations with patients – In some cases, patients may be unaware that they have a balance owing until they receive a call from a collections agency. This can damage your relationship with patients if not handled correctly. working proactively with patients from the beginning can help prevent this from happening. At our medical billing and collections service, we understand how important it is maintain positive relations with patients while still getting paid for services rendered. This is why we take a personal approach when discussing balances with patients – we work with them one-on-oneto come up with payment plans that fit their budget so that everyone is happy.