“The AdvancedMD Tip of the Week” - Savvy Practice Tips from Industry Experts

Don't Delay Collecting Money

Thursday, Nov. 16, 2006

Money is always easier to recover when collected as close to the time of service as possible. Ideally, the co-payment should be collected at the time of service or once the insurance company issues a remittance. To ensure timely collection, a statement should be sent to the patient as soon as the EOB is returned from the carrier rather than waiting until the end of the month to run statements.

The AdvancedMD Advantage: AdvancedMD's application allows you to easily run statements at any time during the month; weekly or even daily. The patient can then receive a statement for any balance they owe as soon as possible rather than waiting almost a month before they get a bill, forgetting the value of the service you provided. Providing patients with a statement as soon as possible drastically reduces the chance they will remit payment. For more details on the AdvancedMD Advantage click here.

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