Health care costs Americans $5 trillion each year. According to a report by InstaMed, 30 percent of that amount is wasted due to inefficient payment processing. Costs associated with paper-based billing and administrative tasks were also cited as part of the problem.
Innovative payment and collection models can help hospitals, private practices, clinics and other care facilities reduce budgetary waste. When those resources are allocated in more meaningful ways, the patient experience benefits as well as the care facility’s bottom line.
One of the best ways to mitigate pressure on accounts receivable administrators is to outsource receivables management. Contact Professional Medical Services today to learn more about how our solutions can improve health care finance at your medical enterprise.