It is one thing to provide a service and another to be paid for the service provided. Often, when a service is not paid for in cash, the beneficiaries of the service can take advantage to prolong payment by placing in unnecessary obstacles. The general effect of these to the healthcare provider is that they may be unable to function seamlessly and spend time chasing payments in order to meet their operational costs. In the long run, the patient and hospital relations get spoilt and future business interactions are compromised. For continued business relations, medical providers must have a good relationship with the patient. If the insurance companies releases payments to hospitals on time, they are likely to help in service delivery because, operations of the medical providers are uninterrupted and patients are treated without problems about past bills.
Considering the likely effects caused by the payment cycle, between patients, healthcare providers and the insurance companies, there is need to contract the services of the medical billing companies to bridge the gap. Considering the expertise offered by Apache medical billing, the interaction between the healthcare providers, insurance companies and the patients are greatly improved.
The first advantage is that the medical provider focuses on treating patient and then leaves the processes of patient and insurance companies payments to be followed by Apache medical billing. These help in the provision of quality service which is the core business of any health care provider. The hospital can have more time to concentrate on proper staffing for all departments, diagnostic services and even surgeries.
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Payment cycle between the patient, hospital and insurance companies is reduced since Apache medical billing bring in their expertise, that helps in synchronizing the codes of the partners and integrate them into their software. This helps in also in reducing the turnaround time where queries arises by making sure they are addressed in a timely manner.
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Collection time is reduced when a medical provider contracts medical billing companies to do a collection on their behalf from the patients and the insurance companies. These have the effects of improving the cash flow problems and hence the hospitals are able to meet their bills as and when they fall due.
Health care providers are able to save money that would have been used to pay the debt collector who follow up on stubborn patients and insurance companies. The saved amount can be used in provision of better services that were not in existence before.
With all services been offered from one facility, the patients satisfaction level is greatly improved since they doesn’t need to hope from one facility to the other. Finally, by using the billing companies, they use their expertise to make sure the level of billing compliance is at an all-time high. These have the effects of improving the general revenue of the health care providers which in turn increases the value of the stakeholders involved.