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Medical Billing
Do you need support with your invoicing? Perhaps you are concerned about the number of unpaid invoices or simply that you are reviewing your practice and looking into different options. Let us help you make your practice profitable.
Medical Billing Services – at Trust Health we provide fully comprehensive medical billing services, including collections, to doctors in private practice. Our services remove any concerns you may have as we ensure your invoices are raised and paid on time, at the correct amount and that any unpaid invoices are chased up.
We are able to work from within your own software system where this option is available.
We would love to work with you, please get in touch to discuss your practice.
Fee Collection
Are you or your secretary struggling to keep up with invoicing and overdue payments? Or maybe you are reviewing your practice and looking into different options.
Our in-house experts can truly help your practice move forwards by providing invoicing and collection services on your behalf, using your existing software system or introducing our own. We always record payments accurately and in detail on the day of receipt. This ensures your records are fully up to date and allows our team to chase unpaid invoices from the day they are due.
- Dedicated team of experts who are focused entirely on ensuring your invoices are paid
- Reduced workload for you and/or your secretary as we take over at the point of invoicing
- Cost-effective model, with our fees being tax-deductible
- Age debt reduced to less than 0.5% against the national average of 10 to 20%
- Detailed monthly reports in an accountant ready format
- Personal service and we are always contactable
- Online payment facility for patients in addition to telephone payment facility
- Liaison with your accountant at year end or ongoing through the year as required
Debt recovery
Many medical professionals approach us with an amount of outstanding debt – this is naturally one of the reasons why you want help with your invoicing. We are experienced and successful at collecting old debt on your behalf. Our processes ensure that this takes place in a sensitive but professional manner, enabling us to bring your practice invoicing up to date and enjoy future amounts of negligible debt.
Outstanding debt can build for a number of reasons including coding anomalies, incorrect patient demographics, delays in invoice raising and lack of effective chasing of unpaid invoices. At Trust Health we are able to address these issues on your behalf.
The Trust Health debt collection team:
- Guide you through the easy process of transferring bad debt
- Are sensitive and respectful of patients
- Improve your net income
- Ensure accurate and detailed bespoke financial accounting
- Reduce your stress
- Free up your or your secretary’s time
FAQs
How do I change my billing to Trust Health?
The process is very straight forward and quick and involves the completion of a couple of forms. Give us a call and we will talk you through what to do.
We are experienced at managing the changeover process for established consultants with insurance companies.
How does the billing process work?
If you have Cloud based existing patient and practice management software, we will access the financial aspects of your practice remotely. This enables us to work with your Practice to easily raise, send, allocate and chase invoices within your existing system.
If however you do not have your own software and would like to benefit from our internal software, we can accept the billing information in a number of different encrypted ways including email, fax or post and we aim to raise your invoices on the same day as receipt of the information.
When raising invoices, we will ensure your invoices are raised with the correct fees for each insurance company where these vary, and for self pay patients. Any shortfall invoices are sent as required.
How does the collection process work?
Our experienced team follows a recognised and successful process for collecting your fees. This process starts will timely and accurate billing, but for any monies not paid on time we implement our proven collection methods to ensure payment is received. It is our efficient processes that allows us to confidently say we will collect over 99.5% of your work.
Can you collect my old debt?
Yes. It is natural for medical professionals to have an amount of outstanding debt and we have processes in place to collect this debt for you.
We are experienced at working with patients, insurance companies, embassies and medical legal firms and our team will work on your behalf in a sensitive and professional manner.
What financial reports do I receive?
Our systems allow us to provide you with tailored or standard financial reports. Our standard monthly reports include details of invoices sent, monies collected, outstanding invoices, and bank reconciliation details. We are however able to provide additional reports upon request including referral details and fee analysis.
We also provide year end reports in an accountant ready format if required.
How do you transfer money to me?
Money collected on your behalf is transferred into your nominated bank account monthly together with your detailed financial reports.
What are your charges?
We charge a percentage of your invoice value and the amount varies depending on the practice size and ways in which each practice works.
We charge an initial set-up fee of £250.
I don’t want to upset my secretary, what should I do?
On many occasions, we have found that secretaries are in fact pleased to have the invoicing and collection responsibility outsourced to a specialist company, leaving them free to focus on the clinical side of your practice.
As practices grow, secretaries have less time to spend on billing as, quite rightly, ensuring the patients are taken care of takes precedence.
We recommend having an open discussion with your secretary as it might surprise you how they feel. We have a good relationship with our consultants’ secretaries, working in partnership with them to support medical professionals.