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THE ADVANTAGES OF CONTRACTING A MEDICAL BILLING COMPANY BY A HEALTHCARE PROVIDER 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. Health care providers may be grounded to a halt for failing to meeting the operational bills occasioned by the services provided to patients. These in turn affect the future business relations. 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. With medical billing companies, the payment cycle between the insurance companies, patients and the healthcare providers can become seamless because they are experts in mediating between the parties. Therefore, the advantages of contracting the medical billers like Apache medical billing far much out way the direct interaction between patients, hospital and insurance companies because they are good at coordination. Quality of service by medical provider is greatly enhanced when their focus and concentration is on; diagnosis, treatment and staffing and not thinking about collection because Apache medical billing takes care of that end.
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Since Apache medical billing only employ the best, the chances of billing errors that plays a role in delaying payment is greatly reduced or eliminated altogether. They take time to ensure the billing codes are well synchronized between the hospital, insurance companies and their software. These integrated approaches fasten the payment cycle by addressing any reconciliation issues that may arise in the course of billing.
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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. With increased cash flow, the hospitals are able to save money that would have been used to contract debt collectors to follow up with patients and insurance companies that have defaulted on payments. With such a savings, additional services may be introduced to the patients. 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.