Today the rising healthcare cost is one of the major concerns for many. Giving providers the feeling of overwhelmed and lost, high costs have left consumers skipping payments due to affordability issues or even skipping treatments. Adding to the increased bad debt, decreased patient volume, and overall revenue losses for many providers; healthcare practices today are ending up losing control over cash flow and AR. This is why in order to maintain a strong bottom line and seamless billing transaction, healthcare providers are looking for an operational extension SUPPORT that can help with collections and meet the needs of the practice as well.
How the support from an operational extension can improve your revenue generation:
Resolving all the collections challenges like unpaid and delayed payments decreases cash flow; an operational extension takes care of your complete administrative processes improving your ROI. Working on complete operational transparency and excellent communication and eliminating the chance of surprising billing and missed payments, outsourcing brings you right on the track so you focus more on patient care which is often shifted due to the complex billing challenges.
Improving the speed of collections and decreasing your days of accounts receivable, outsourcing further reduces the chance of billing and any sort of collections errors.
Improving your overall financial experience, there are outsourcing partners that reduce the operational cost and also cut down your administrative burden. With a complete understanding of the present industry mandates and following complete HIPAA complication protocol, an operational extension in short amplifies rates of collections, increases speed to cash, and reduces accounts receivable for healthcare systems. So providers can put undivided attention to patient management.
Dipak Nandi, M.D, a pioneer in the healthcare industry and a New York based renowned neuro-psychiatrist, who is certified by the American Board of Psychiatry and Neurology, in fact, stated – helping many healthcare providers navigate their financial journey, outsourcing aids in improving the revenue generation of many.
Dr. Dipak Nandi who has also been instrumental in improving the healthcare industry for more than two decades also stated that outsourcing today is the cost effective solution and the need of the hour catering to all your billing needs.