Today, between co-pays, claim denials, past-due balances and changing insurance, doctor’s offices must navigate a complex financial landscape. While doctors work to treat patients, they must also succeed as a business. The complexity of managing financial payments can put a strain on their medical practice. Let’s look at the billing
Adequate cash flow is as essential as overall revenue for many businesses, especially small and medium-sized companies. Improved customer service serves as a critical part of ensuring cash flow, not only in how customers are treated but also in how quickly services are rendered to receive payment. Let’s look at
Your ophthalmology practice needs loyal patients and on-time payments to thrive. What should you do if past-due invoices are piling up? Here are some things to consider regarding your overdue accounts receivable. Do You Have Existing Policies in Place? First, you should check your existing policies to see what standards
What is the number one reason why Americans file for bankruptcy? While some would be tempted to answer consumer debt or mortgages that were too big, the answer is medical debt. Medical debt in America is a serious problem for individuals and families. According to the Kaiser Family Foundation, over
While some shining employees make the decision of when to promote in healthcare finance and billing departments easy, other factors like revenue, budget and employee tenure can complicate things. Managers should never create a work environment where promotions are considered routine and warranted simply by showing up on time. Instead,
Whether you’re an experienced physician or a young doctor ready to branch out on your own, transitioning from being an employee to a practice owner is a serious decision. From developing your management skills to balancing the financial intricacies of succeeding in the medical industry, there are plenty of “dos”
High Emotional Intelligence is an asset in stressful positions. Taking steps to raise your Emotional Intelligence Quotient can have significant benefits to you and your organization. Billing and collections can be particularly stressful and an increased EQ will contribute to your job satisfaction and success. People with a high Emotional
Helping the Community Once again, Alacrity Collections Corporation is proud to be one of the sponsors of Denim & Diamonds, the signature event to raise funds for expanding Anne Arundel Medical Center’s Foundation. The AAMC foundation’s goal is to increase AAMC’s ability to provide mental health services. The event offers something for
Significantly overdue invoices are a problem in many industries. There are several things you can do to increase the likeliness of getting paid promptly for the products you sell. Every one of these can have an impact on your organization’s cash flow. When you combine all of these steps, you
As with many questions, the answer to “when do you need a collections agency” is “it varies.” It really depends on several points. Here are four of the most important reasons why a business or practice owner should contact a collections agency: If you run a company, clinic or accounts
A Collection Agency helps your organization be more profitable. Clinics and companies alike have mostly patients or clients who pay their bills when the money is due. This is usually at the time the service or product is provided or once the client receives an invoice. Other customers or patients
Following up on our previous article where we highlighted the importance of healthcare provider compliance with collection regulations, we have a brand new case where a medical group allegedly lacked prior express consent before contacting a patient per the TCPA and the FCC’s Declaratory Ruling. California’s Prospect Medical Group is
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