Simplified Financing for Medical Service Organizations
Bill collections, accounting, and financing are all critical aspects of running a successful business, but the time that goes into billing and accounting can pull time and attention away from serving patients. To help streamline this process, increase efficiency, and provide more time for patients,...
The #1 Most Concerning Issue for Hospital CEOs
Becker’s Hospital Review, a top publication addressing hospital business and health system executives, published an article earlier this week outlining “The 10 most concerning issues for hospital CEOS in 2018.” Becker’s surveyed 355 community hospital executives and asked them to rank 11 common issues based...
Cutting Down on Third-Party Interference
Cutting Down on Third-Party Interference If the staff at your medical practice are tired of the time and hassle associated with collecting bills and being put on hold by insurance companies, then you’re not alone. In fact, frustrations over dealing with third parties (insurance payers, billing...
Answering Your Patients’ Questions About Medical Financing
The disconnect between health care practitioners’ services and patients’ ability to finance care have contributed to shockingly high unreimbursed medical insurance expenses for practices across the country. In fact, medical financing is one of the most troubling topics for providers and patients alike. We believe...
Patient Financing: How to Create a Better Experience
Across the healthcare market, a primary issue among practice administrators is collecting payments on time. Many doctors fear that increasing collections will result in decreased patient satisfaction. However, by implementing convenient, updated billing and payment methods, healthcare professionals can truly have the best of both...
Combatting the Collection Challenge of High Deductible Health Plans
1 in 3 insured Americans have a high deductible health plan (HDHP), defined by the IRS as any insurance plan with a deductible of at least $1,350 for individuals and $2,700 for families. While the HDHP represents a significant portion of all insured people, it...
Collecting Debt: A Primary Concern among Medical Doctors
You own a medical practice, not a debt-collecting agency. Unfortunately, as healthcare costs and deductibles continue to rise, doctors are struggling to collect payments from those with and without insurance. Out-of-pocket costs are higher than ever. In fact, in 2017, nearly half of all privately...
StrongBox Medical Patient Payment Portal: Get Paid Faster
In today’s economy, several medical practice owners are worried about their patients’ ability to pay for services. This is a reasonable concern. After all, in order for your practice to meet its full potential, you must hone your revenue cycle management so that claims, billing,...
Healthcare/Medical/Dental Patient Financing: Serve More Patients and Increase Your Revenue
Healthcare costs are rising. So are insurance deductibles and prescription fees. As more and more patients struggle to pay for their medical needs, healthcare providers suffer as well. Healthcare financing is evolving, and practice owners must change with it if they want to stay afloat....
StrongBox: Your Medical/Dental Billing Software Solution
In today’s modern world, revenue cycle management and intuitive billing software are essential aspects of any successful healthcare practice. Together, these tools can help reduce bad debt expense, increase collections, and reduce overall costs. Here, our team at StrongBox explores how our medical/dental billing software...