Accurate Medical Billing and Collections Essential for Success of Practice

The importance of medical billing and collections cannot be overemphasized in an era where health reforms are changing the face of the health care industry in the United States. With the ever-increasing costs of running a business, the financial aspects of a private medical practice are more important than ever. Nobody understands this better than Kevin Cappel, Founder of Ledger Resolutions. After leading a private practice and experiencing the difficulties encountered in billing and collections, Cappel founded Ledger Resolutions to fill a gap in the private practice market and provide outsourced medical billing and collections.

Financial Success Hinges on the Success of Collections

Healthcare industry changes are causing cash flow challenges for many practices today. When evaluating the benefits of outsourced medical billing, a strong cash flow is of the utmost importance. Without a steady cash inflow, a private practice will be unable to invest in the people, technology and other assets it needs to be competitive in the market. Maintaining a constant influx of cash is highly dependent upon successful billing and collections practices.

Outsourced medical billing relieves the hassle of billing and collections by completing necessary tasks, such as submitting claims, handling all accounting tasks for payments received, and conducting follow-ups on past-due accounts and accounts that have been paid incorrectly. Without timely collections, the financial fruition of a practice hangs in the balance. To rid your practice of the jeopardy of financial ruin, consider outsourcing your medical billing and collections.

Simplify the Process With a Trustworthy Partner

Outsourcing medical billing with a professional third-party provider not only ensures accuracy of the billing and collections, but also simplifies the process for physicians. While billing and collections may initially seem easy, the process can be much more in depth than expected.

A third-party provider, such as Ledger Resolutions, offers the appropriate services needed in order to accurately complete collections efficiently. Such services include data entry, paper or electronic filing, payment posting and timely follow-up on all claims as needed. Ledger Resolutions’ services shorten the processing time and increase collection dollars, while also providing an effortless transition to outsourced medical billing.

Eliminate the stress of billing and collections with a third-party provider, such as Ledger Resolutions.

Ledger Resolutions services include:

● Qualifying charges submitted by providers for necessary modifiers;

● Same-day submission of all electronic and paper claims for more efficient processing;

● Payments post within 24 hours of reception, and statements are deployed to customers, alerting them of any remaining balances;

● A system of follow-ups on each account; and

● Submitting non-clinical appeals.

For additional information about Ledger Resolutions’ services and how they can help improve your clinic’s or practice’s bottom line, call 855-217-5013 or visit ledgerresolutions.com.

Ledger Resolutions Provides 3 Reasons Why Physicians Should Outsource

Private medical practices face many challenges with medical insurance billing and collections. Billing and collection issues can often create mayhem when not handled accordingly – something Kevin Cappel found out when he previously served first as director of sports medicine centers and later as a business consultant to private physical therapy practices. His experiences with billing and collection nightmares led Cappel to launch Ledger Resolutions, LLC, which provides medical insurance billing and collecting services for physical therapy clinics and chiropractic practices nationwide.

Outsourced medical billing can bring a host of benefits to a private practice. Ledger Resolutions offers services that shorten processing time and increase collection dollars by working with administrative staff to align their internal processes with sound accounting practices and billing efficiencies. Choosing to outsource medical billing can be a big step for many practices and Ledger Resolutions gives three reasons why every practice should consider outsourced billing:

1. Enhanced patient care. A doctor’s primary goal is to give quality service to their patients. Most clinics are unable to adequately handle billing while also providing patients with the care they deserve. Also, when medical billing is lacking, practices could lose millions of dollars due to improper billing.

2. Multitasking is not always possible. Physicians cannot concentrate on the medical billing task, which requires a proper process and regular follow-ups with insurance companies, while also attending to patients. This will cause one or the other to eventually fall below standards.

3. No more medical billing mess. If mistakes are made within the billing process, the practice will have to absorb whatever loss is incurred. Medical billing requires experience and expertise to adequately manage the process. A team of professionals should monitor medical billing to achieve error-free results.

While choosing a billing service can be especially challenging for owners, businesses should be concerned with making the best decision for the practice, and feeling comfortable with the outsourced team.

Ledger Resolutions provides a group of adept workers who create a partnership with you and accurately process your claims. Shifting to third-party companies such as Ledger Resolutions can enhance front office efficiency and allow owners to focus on providing top-rate therapy and patient services. If you are expanding, constantly worrying about finances, or are just in need of a better way to manage billing, Ledger Resolutions is the company for you.

Ledger Resolutions services include:

● Qualify charges submitted by providers for necessary modifiers;
● Same-day submission of all electronic and paper claims for more efficient processing;
● Payments post within 24 hours of reception and statements are deployed to customers, alerting them of any remaining balances;
● A system of follow-ups on each account;
● Submitting non-clinical appeals; and
● Reporting so you know where we are in the process, at any time.

For additional information about Ledger Resolutions’ services and how they can help improve the bottom line of your clinic or practice, call (855) 217-5013 or visit www.ledgerresolutions.com.

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