Medical billing services can do wonders for your medical business. Patients like consistency and clarity, and every business owner appreciates their bills being paid on time, so it’s fair to say that everyone can see the obvious benefits. Employing such services allows you to secure the funds you’ve earned while retaining strong relationships with your patients.
Leaning on third party medical billing services removes the awkward interaction between you and those you care for, and eliminates the burden of understanding and adhering to complicated codes. As most medical professionals don’t moonlight as accountants, we can all agree that finances are often best left to financial experts, just as medicine should most definitely be reserved to those with medical qualifications.
Why Change Providers?
If you’re already using a medical billing service, you probably already believe in the benefits above. But if you don’t currently have a medical billing provider or you’re curious why medical practitioners would change, let us tell you about some of the lesser-known benefits that Premium Medical Billing offer, that have our clients excitedly jumping on board.
#1 – Net Income Increases Up to 30%
It’s common knowledge that medical billing services can increase cash flow, but you may be surprised to know that Premium Medical Billing clients see an increase in net income by around 30 per cent. How is that possible? With bills being paid on time, and your hands free of chasing overdue invoices, there is a lot of time left to provide services that bring in more cash flow.
We at PMB ensure that we bill on the same day as receipt, this ensures any issues are immediately flagged.
As we use the most up to date software for electronic billing, we can send invoices straight away to the major PMI’s without any delays, this guarantees a swift turnaround in payment.
Having over 15 years in the medical billing industry has enabled us to have an excellent relationship with the Major PMI’s. This ensures any queries are dealt with efficiently and in a timely manner. Having PMB managing the financial side of the business allows you to focus on the medical side.
#2 – Reduce Bad Debts to <1%
Bad debts can be detrimental to your business. Not only are they hard to collect on, but they impact your bottom line, which can make it more difficult to prove your profitability and secure necessary loans for your business. With Premium Medical Billing, our clients achieve bad debts of less than 1 per cent, making bad debts a worry of the past.
We at PMB have an efficient and robust process in place for chasing unpaid invoices, and ensuring shortfalls are followed up, allowing any queries to be swiftly dealt with.
This ensures a reduction in bad debts, whilst also increasing your monthly income.
#3 – Free to Focus on What You Do Best
Most medical practitioners don’t dream of managing their accounts when they set up their own practice, but very often, that is what happens. Premium Medical Billing takes that task out of our clients’ hands so that you can get on with what you do best, the medical side of the business. And we can worry about getting your payments secured and reducing your bad debts.
Premium Medical Billing in Oxfordshire and Buckinghamshire is proud to offer market-leading benefits to our clients. Through Founders, Dan and Abdul, we have more than 15 years of medical billing experience, coming from big agency backgrounds, taking this knowledge to create a solution that is more personal and hands-on, while delivering seriously big results.
Try the #PMBenefits Risk-Free Today
Changing to Premium Medical Billing is easy and risk-free. With our one month free trial, you can explore the benefits of our expertise and hands-on medical billing services. Put us to the test against our #PMBenefits and find out why medical practices are moving over to Premium Medical Billing to work with leaders in the market of medical billing in Buckinghamshire and Oxfordshire, Dan and Abdul.
While change can be daunting, the benefits of making extra profits can never really be outweighed. Get in touch with Premium Medical Billing today to get your free trial and experience for yourself The Premium Medical Billing Difference.