Professional Medical Services is a third party service provider that offers a wide range of financial solutions for health-care providers. Our services allow health-care providers to manage their ever-growing number of third party claims because we offer the service and expertise needed to effectively handle all aspects of the accounts receivable department.
Ineffective management of your low balance insurance accounts receivable can be detrimental to the success of your department and wind up costing your organization a substantial amount of money. This is typically caused by a lack of time or other internal resources. Our service alleviates this concern by always following best practices and operating with the utmost efficiency. This is the result of a combination of our skilled and knowledgeable staff and our array of innovative tools.
The benefits of our service will be felt in as little as 60 days. They include:
- Increased cash flow
- A decrease in accounts receivable days
- A decrease in the overall percent of accounts receivable over 90 days of age
- A decrease in the dollars released to bad debt write off
- A more manageable claim load per collector
- An improved patient / healthcare provider relationship
- A sharp reduction in losses due to missed filing and appeal deadline
- An income statement benefit from 3-10 times our fee
Our automated system provides valuable insights into the effectiveness of our service. Our ARCC Tracking System monitors our workflow and productivity and delivers the results to you, our customer. By working accounts in an online environment, you will be able to view your progress as we manage your aged accounts and eliminate your billing backlog. By consistently providing updated reports, we maintain a line of communication that is crucial to the success of our relationship with our clients.
The true value of our service is the people who provide it. In addition to extensive knowledge of our system and business processes, our staff is highly skilled in third party payor claims management and have mastered the practices required to meet your accounts receivable needs. Our actions are motivated by our commitment to integrity and we follow this philosophy in everything we do. The environment we created at Professional Medical Services challenges our employees to be creative, innovative and to take pride in the work they do, and these values are reflected in the service we provide our customers.
Understanding the differences between health-care providers, we have adopted the ability to be flexible and adapt to the unique needs of our customers. Our offerings range from short to long-term service, depending on the specifics of your accounts receivable environment.