Improve Billing Efficiency with StrongBox eSolutions
Collecting reimbursements for medical treatments can be a frustrating experience, especially for small medical practices with limited staff. Low reimbursements cut profits and dampen growth. An astonishing $125 billion is lost each year by medical practices due to underpaid or unpaid claims.
If your medical practice is still relying on phone calls and snail mail for billing, your billing practices may be contributing to the problem. StrongBox eSolutions can help you reclaim those lost funds. Our secure Patient Payment Portal and Mobile solutions provide patients with convenient payment options that can be accessed online or through a mobile device 24/7, 365 days a year. By providing convenient and easily accessible payment options for your patients, you can benefit from increased earnings, improved billing efficiency, lower accounts receivable, and greater payment tracking capabilities.
Improve Your Practice’s Billing Efficiency
If you are still relying on paper billing, you are increasing the risk that your medical bills will not be paid on time. Due to the prevalence of junk mail, your patients likely receive dozens of letters and unsolicited advertisements every day. Once a payment has been skipped or lost, the likelihood of never receiving medical reimbursements goes up significantly. Our online digital payment solutions including our Patient Payment Portal and Mobile applications increase the likelihood that your bills are paid promptly and fully. More than 80 percent of adults periodically make online payments, so the consumerism of healthcare and payments is required to thrive and survive in the rapidly changing digital payments marketplace.
Improving billing efficiency requires accurate patient payment reports. If you are not tracking every bill that leaves your office, you’re missing out on critical data. Our online Dashboard tracks Key Performance Indicators (KPIs) in real-time. Business owners can view daily, weekly, monthly, and yearly financial reports. The Dashboard is fully customizable. Greater transparency allows you to target areas of inefficiency.
StrongBox also allows your medical practice to enjoy the benefits of automation. Bill payments can be completely handled online or via our platform practice manager user interface. Once your patient makes an online payment on our secure portal or via our secure web portal, the funds will be available immediately. By automating the billing process, you can free precious human resource capital to focus on more important areas of your medical practice.
Comprehensive Revenue Cycle Enhancement
StrongBox offers several powerful online tools that can be seamlessly incorporated into your existing workflow. In addition to benefiting from our RCM platform solutions, your medical business will have access to our low cost Patient Financing module. Did you know that 80 percent of patients do not have the liquid assets to satisfy their deductible? As healthcare costs rise and the amount of self pay component increases, patients require sufficient liquidity to fund their healthcare needs – our Patient Financing solution achieves just that at a fraction of the cost of other financing alternatives.
This is why having convenient financing options is critical to allowing patients to receive services. StrongBox offers two unique financing options that patient can apply for online in only a few minutes: Select (for small to mid-sized providers) and Pro (for groups, networks, and hospitals).
Both options provide your patients with these benefits:
- No hidden markups
- Fixed-rate loans
- Interest hike-free payments
- Zero credit score impact
- Fast lender response (usually within minutes)
- Hassle-free applications
- Fixed monthly payments
Improve Medical Billing and Grow Your Practice With StrongBox
Nearly 80 percent of patients consider billing options when choosing their healthcare provider. If you are ready to integrate our RCM and Patient Finance platforms into your online services, contact our Boca Raton, FL office online or call (855) 468-7876.