The goal of any service provider is to provide exceptional service and receive payment for it in as little time as possible. Insurance companies slow that down. Billing and claims management can help minimize the risk that you will not receive the payment necessary. Furthermore, when there is a missing payment, proper medical bill collection should be in place to get those payments made as quickly as possible. CodeMax Medical Billing provides this service to you, ensuring the very best collection services.
Minimizing the Need for Medical Bill Collection Is the First Step
In every organization, the goal is to create a simple payment process that eliminates the risk of collections. For example, our team provides comprehensive and fast verification of benefits (VOB) as a first step. This action minimizes the risk of denials later. In addition to this, proper coding also helps to reduce the risk of collections happening because insurance companies can process claims faster and more efficiently. If you do not have a system in place to do this, you may have a higher number of claims going to collections, which is a significant concern.
How Our Bill Collection Services Stand Out from the Rest
There are times when bills go unpaid. This can happen for various reasons, but when it does, it leads to a range of consequences, including:
- Lost revenue for the organization
- Complicated treatment plans for patients
- Less likelihood of patients coming back for care for fear of larger bills to pay
- Poor outcomes for those patients
- Less money to reinvest into the company
That’s why having a bill collection service can be beneficial. By utilizing these services now, we can minimize the risk of losing out later.
Our services are aggressive and persistent. That means that we ensure the best possible strategy is used to collect on the debts owed to you. This helps you get paid for the services you have already provided to your clients. It also helps ensure your organization will get the best possible results when providing care to those clients. Ultimately, ensuring collections are paid is also an essential step in adequately managing your organization’s finances.
If your practice provides a valuable service to a patient, you should not be derailed by nonpayment from others. Instead, work with our billing service providers to minimize your losses and improve collections for your accounts.
What You Can Expect from Our Services
We aim to provide our clients with the resources they need to improve billing and payment management. That means providing you with the services your organization needs. When organizations using our medical billing services, they gain ample support throughout the billing process, including with collections. Some of the results we provide include:
- More accurate coding leading to faster claims, fewer penalties, and better payment of services
- Full VOB, which directly impacts the services you provide, minimizing the risk of denials in service later
- Increased revenue, often by as much as 30%, reducing inefficiencies and finding potential billing opportunities
- Lower overhead, which directly lowers costs and improves operations
- Improved quality of care, which may lead to an increase in pre-authorized treatment days by as much as 50%
Are you ready to improve collections? Start by contacting CodeMax Medical Billing.
Get the Support You Need at CodeMax Medical Billing
Proper billing methods minimize the need for collections. Yet, in nearly any mental health and substance abuse treatment practice, claims go unpaid. Our medical bill collection services can mitigate the risk of these nonpayments from patients, leading to costly problems. To learn more about how CodeMax Medical Billing can help your organization, call us at 866.471.3267 or connect with us now online.