Debt Recovery

The business of practicing medicine can be tough to deal with. It is absolutely necessary to run and grow a successful practice but many times, it gets in the way of what you do as a practice. It can suck time from critical functions or hinder your long-term goals if your revenue management is not what it should be. That is why implementing practice management software like eClinicalWorks can be so beneficial.

eClinicalWorks has been providing cloud-based solutions for medical practices for over 20 years. More than 130,000 doctors and 850,000 medical professionals use eClinicalWorks to help improve their practice’s finances and improve the overall patient experience. Here is why eClinicalWorks is trusted by so many in the medical community.

 

Already using eClinicalWorks Software? Have unpaid medical bills?  Need to transfer your overdue accounts receivable to a debt collection agency? Contact us You decide what should be the minimum outstanding balance eligible for collections. Only send accounts if a payment hasn’t been made in _(60/120/180) days. Send 5 collection demands to your patient or transfer directly for debt collection calls. You are in total control of the process. Dedicated small business debt collectors. Contact us for a demo of our free eClinicalWorks debt collection utility.

 

Managing the Revenue Cycle

eClinicalWorks is known for being one of the first companies to ever provide cloud-based EHR software when it started in 1999. Today, they have expanded their range of offerings and now provide a class-leading revenue cycle management (RCM) solutions.

In-office billing can be a major headache for many medical practices. The human and monetary resources that you have to dedicate to this process can be big. And, if you want to use a third party for billing, they can take anywhere from 5% to 12% of your monthly collected revenue. eClinicalWorks offers accurate, secure billing at just 2.9% of revenue. They also provide dashboards and analytics so you can easily keep abreast of the financial health of your practice.

Population Health Management

As medical practices start to harness the power of big data to improve the health of their patients, population health management is becoming a bigger buzzword in the medical field. The population health management system from eClinicalWorks helps practices deliver care more efficiently and effectively for a healthier population.

To provide this solution, eClinicalWorks has an innovative tool, The Healthcare Effectiveness Data, and Information Set (HEDIS). This tool uses demographic data and diagnoses to calculate a risk score that used by programs like Medicare. It takes these scores and uses them to evaluate care access and delivery, measure compliance, and evaluate provider performance.

Patient Engagement 

In 2020, you need more than a flashy website to become a leader in patient engagement. eClinicalWorks helps practices harness the latest in digital technology to create engaging and user-friendly patient portals, Healow apps, and online appointment booking. They can also digitally streamline every piece of the patient experience from the check-in process to follow up TeleVisits. Technology is changing the way the patients expect to interact with their healthcare providers and eClinicalWorks can get make your practice ready to deal with the modern patient.

Conclusion 

There is a lot of EHR, RCM, and patient engagement software available today but not many have been around for over 2 decades. eClinicalWorks has long been a leader in medical practice technology and their solutions have been implemented around the globe and are proven to make practices more efficient, profitable, and successful all around. Whether you want to use a technology solution to maximize one aspect of your practice or all aspects, eClinicalWorks has the tools for you.

Running a medical practice can be a major juggling act. There are so many things to manage around providing patient care and creating a positive overall patient experience and just as much, if not more, to manage regarding the business side of the practice. If you don’t have effective and efficient practice management software to help you juggle all the tasks associated with your practice, you and your practice can be in trouble.

This is why a software like CareCloud can be so good for your practice. It provides cloud-based practice management, electronic health records (EHR), and medical billing software and services. They also offer software-as-a-service (SaaS) and revenue cycle management (RCM). CareCloud works with medical professionals in over 50 specialties in 48 states. Here is how this software can help your practice.

 

Already using CareCloud Software? Have unpaid medical bills?  Need to transfer your overdue accounts receivable to a debt collection agency? Contact us You decide what should be the minimum outstanding balance eligible for collections. Only send accounts if a payment hasn’t been made in _(60/120/180) days. Send 5 collection demands to your patient or transfer directly for debt collection calls. You are in total control of the process. Dedicated small business debt collectors. Contact us for a demo of our free CareCloud debt collection utility.

 

Something for Every Practice

CareCloud is not a one-size-fits-all solution to practice management. They offer different solutions. Depending on what type of practice you are involved with and what you need to focus on, there is a solution tailor-made for you. CareCloud has 4 buckets it groups clients into that they provide solutions for.

• Small Practices – fully integrated practice management software, electronic health records, and patient engagement solutions so you can focus on patient care.
• Large Medical Groups – intuitive software, real-time analytics, and top-notch service and support allow larger practices to be more productive and profitable.
• Enterprise Solutions – gives you the ability to connect all the providers in your network while also being easy to scale.
• New Practices – a full suite of software products that give you everything you need to get a new practice off the ground.
• Specialty-Specific Solutions – focused on giving specialists all the same features and benefits as general practices while customizing the software to best fit your specialty.

More than Just Getting Paid

CareCloud has great medical billing and RCM software that helps your practice get paid faster and easier but it has products that go way beyond that. Products like CareCloud’s practice management software, advanced analytics, and professional services will help your business maximize revenue and become more profitable.

All these software products come with CareCloud’s team of experts to back them up. They can help your business get the most out of medical data, technology, and financial software in order to not just survive but to thrive. 

Improving the Patient Experience

CareCloud products are not just about the backend of a medical practice either. Breeze, their patient experience software will modernize and revolutionize the patient/ practice relationship while also helping your practice always stay compliant. This software can allow your practice to go entirely paperless and digitize appointment management, the preregistration process, and patient intake. Practices that use Breeze report up to an 80% reduction in the time it takes to register new patients and a check-in process for existing patients that now takes 2 minutes or less.

Conclusion 

Managing a medical practice is a lot. That is why the practice management solutions from CareCloud can fundamentally change how a practice operates. If you want to make running your practice easier while increasing profitability, CareCloud has a solution just for you.

Managing finances can be the most challenging part of running a business. For large corporations, teams of accountants and number crunchers handle all those things. As small and medium-sized businesses, those responsibilities fall on business owners and employees who may not have enough time to handle all financial tasks or engage in debt collection of overdue invoices.

Regularly review your AR Aging Reports to keep track of outstanding invoices. Go to the “Reports” menu, select “Customers & Receivables,” and then select “A/R Aging Summary” or “A/R Aging Detail.” This report shows how long invoices have been outstanding.

Already using Quickbooks? Have unpaid bills?  Need to transfer your unpaid accounts to a debt collection agency? Contact us We will show you how easily you can submit accounts for collections using a simple online form. No minimum balance requirements. Only send accounts if a payment hasn’t been made in _(60/120/180/365) days. Send five collection demands to your defaulter or transfer directly for debt collection calls. You are in total control of the process. You get a dedicated team of small business debt collectors. Contact us for a demo of all our debt collection services.

 

QuickBooks allows you to send payment reminders to your customers. You can automate sending the invoice reminders process or do it manually by going to the “Customers” menu and selecting “Payment Reminders.QuickBooks online and desktop versions are great products. QuickBooks offers options for online invoicing and payments. Enabling these options can make paying easier for your customers and may result in faster payment.

Here is everything you need to know about this product.

Like Hiring an Accountant

QuickBooks helps businesses manage their finances in an easy yet comprehensive way. It has incredible features to help you create a profitable business day-to-day while keeping an eye on tax time.

 

QuickBooks offers almost every feature your business could need, including managing bills, income, expenses, cash flow, invoices and payments, paying employees, tracking time, inventory, or project profitability while maximizing your tax deductions. Working with QuickBooks online is truly like hiring an on-staff accountant. 

 

Versions for Different Businesses

QuickBooks knows that different types of businesses have different needs. That is why they offer different packages for different types of businesses. They have packages for businesses that fall into four different buckets. They offer a simple start-up package to get new businesses up and running efficiently as well as a package designed specifically for non-profit organizations so that they can meet their unique accounting challenges.

 

QuickBooks also differentiates professional and field-services businesses from ones that sell tangible goods. For retail-type businesses, the software focuses on sales and inventory. For the services businesses, it is concentrated on project profitability and job costing. These important distinctions help QuickBooks online be the best solution for your accounting needs.

 

Making Life Easier

Unlike some all-in-one software solutions, getting QuickBooks online up and running and using it is quite easy. There are different levels of plans so you can get as many or as few features as you need and you can get QuickBooks up and running in a matter of minutes. It is compatible with many common business platforms like PayPal, Shopify, Square, and more. Also, if you are currently running a software version of the QuickBooks, the tech support staff will help you seamlessly transition.  

 

QuickBooks online also gives you free access to a mobile app so you can have the entire backend of your business in your pocket 24/7. The app allows you to check your finances from the field, create estimates, and run reports in real-time. You and employees can even snap pictures of receipts to track expenses right from the app. It is no wonder that QuickBooks advertises the fact that 98% of their users say this product makes running their businesses easier.  

 

Conclusion

To paraphrase the title of an old Elvis Pressley album, millions of QuickBooks users can’t be wrong! There is a reason that this is the #1 small and medium-sized business accounting software platform in the world. QuickBooks does everything your business will need to succeed.

Dentrix is the most popular dental practice management software. If you are looking for an easy way to transfer your past-due accounts to a debt collection agency, it can be done using a simple utility. Before we talk about that, let us take a brief look at the Dentirx software itself.

When most people look at a dentist’s office, they only see a place where a doctor takes care of their teeth. When a dental professional looks at a dentist’s office they see a complex business where caring for people’s smiles is only a small part of what is going on. In addition to the actual dental work, there is a whole system of business practices that have to be attended to on a daily basis.

Creating great patient care, managing patient and financial records, and handling billing, payments, scheduling, and more are all just as important to the business of a dental practice as the teeth cleaning is. To help operate dental practices, dental professionals need an all-in-one dental practice management software solution that will make life easier and more efficient. This is where Dentrix comes in. 

Are you already using Dentrix? Have unpaid medical bills?  Need to transfer your unpaid medical bills to a debt collection agency? Contact us You decide what should be the minimum outstanding balance eligible for collections. Only send accounts if a payment hasn’t been made in _(60/120/180) days. Send 5 collection demands to your patient or transfer directly for debt collection calls. You are in total control of the process. Dedicated medical & dental debt collectors. Contact us for a demo of our free Dentrix debt collection utility.

Here are some of the primary features that Dentrix has been known for:

1. Appointment Management: Dentrix allows for scheduling and managing appointments efficiently. Users can view and edit appointments, manage appointment confirmations, and track broken appointments.
2. Patient Records: The software enables the creation and management of detailed patient records, including medical history, insurance information, and personal details.
3. Clinical Charting: Dentrix provides advanced clinical charting tools, including graphical tooth charting, periodontal charting, and the ability to add clinical notes.
4. Treatment Planning: Dentrix helps in creating comprehensive treatment plans, including the ability to present multiple treatment options to patients, and prioritize and schedule treatments.
5. Billing and Financial Management: The software assists in handling billing, insurance claims, and payment processing. It allows users to submit electronic claims, manage account transactions, and analyze financial data.
6. Insurance Management: Dentrix enables efficient management of insurance claims, including electronic submission, tracking, and reporting on insurance claims.
7. Reporting and Analytics: With built-in reporting features, Dentrix allows practices to generate a wide range of reports, such as financial summaries, patient analysis, and insurance aging reports, to help in making informed decisions.
8. Family Information Management: Dentrix allows for grouping family members together and managing their information and accounts as a unit, making it easier to handle family appointments and billing.
9. Document Center: The Document Center in Dentrix facilitates document storage, retrieval, and management, including patient records, X-rays, and scanned documents.
10. ePrescribing: Dentrix integrates with ePrescribing platforms to electronically send prescriptions to pharmacies, increasing prescription accuracy and safety.
11. Communication Tools: Dentrix offers various communication tools for patient engagement, such as automated appointment reminders, recall messages, and targeted marketing campaigns through email, text messages, and postcards.
12. Integration with Digital Imaging: Dentrix integrates with various digital imaging systems, allowing practitioners to capture, store, and retrieve digital X-rays and intraoral images directly within the patient record.
13. Data Security and Backup: Dentrix provides features that help secure patient data and offers backup solutions to ensure that critical information is not lost.
14. Customization and User Preferences: The software allows for customization of various aspects, such as charting preferences, templates, and user roles, to suit the specific needs of the dental practice.
15. eServices: Dentrix eServices offer a suite of integrated tools such as eClaims, eCentral, and ePrescribing to streamline various aspects of practice management.
16. Patient Education: Dentrix offers integrated patient education tools that can help in explaining dental conditions and treatment plans to patients with videos and images.

1. Paperless Patient Records 

Dentrix dental practice management software is the best way to electronically manage patient records. Gone are the days of paper records that led to lost records, big file cabinets, and mistakes. The digital patient charts you can create with Dentrix are customizable so you can set them up any way you want and are easy to use and manage.

With these digital patient records, you can even do things like synchronize digital images with patient charts, make and record clinical notes, and automate treatment plans. With this software, your office’s patient records will be safer, more organized, and more user-friendly than ever.

2. Front Deskless Dental Offices 

In addition to paperless dental offices, Dentrix has a vision of front deskless dental offices. Using this practice management software, you can automate all the tasks that you’re your office’s front desk staff provides into a quicker and more streamlined process. This will save your practice money and free up staff to attend to more important business.

Dentrix software will help automate and simplify your scheduling process, allow for easier, digital patient check-in, and streamline the checkout process by automatically tracking and reporting financial information, generating invoices, and saving payment consent and information. It also makes patient communication a breeze with automated email, text message, and postcard communication options.

3. Backend Business Management 

Where Dentrix dental practice management software will really save your practice money is by managing the backend of your business more efficiently. This system easily manages every aspect of billing and payment so nothing slips through the cracks and accounts receivable are paid in a timely manner. It also measures and tracks your overall financial health and progress so you can grow your business and take it to the next level.

4. A Full Suite of Integrated Products 

The Dentrix suite of software products has every type of practice management program you could ever want and they all work together seamlessly to create an amazingly effective system for your practice. These products also work great independently so you can integrate as many or as few of these programs as you need.

Conclusion

To create a successful and long-lasting dental practice, your management systems need to be as great as your patient care. Dentrix practice management software can give you everything you need to achieve this. Find out more about the Dentrix line of products today at Dentrix.com.

Commercial debt collection in a B2B (business-to-business) context involves the process of collecting overdue payments from one business by another business. This is typically initiated when a business has provided goods or services to another business, but has not been paid according to the terms of their agreement. Unlike B2C debt, each B2B debt is handled based on the case history and complexity of the case.

Collection Priorities High Recovery Rates Professionalism and Compliance A Persistent and Diplomatic Approach Transparency and Communication Customized Solutions Technology and Efficiency Cost-Effectiveness Data Security Customer Retention Focus & Maintain Relationship Providing Exceptional Customer Service Need a Collection Agency: Contact us

B2C collections involve the process of collecting debts from individual consumers (B2C stands for business-to-consumer). This usually occurs when a business tries to recover money owed by customers for goods or services rendered. This process is highly regulated to protect consumer rights. Not many collection agencies offer B2C collections due to lower margin and too many government restrictions.

Process of debt collection:

1. In-House Collection Efforts: Initially, the creditor business usually tries to collect the debt through its own internal efforts. This may include sending reminders, statements, and making phone calls to the debtor business to request payment.
2. Formal Demand Letter: If initial attempts do not result in payment, a more formal demand letter can be sent. This letter typically outlines the amount owed, the original terms of payment, and may give a final deadline by which the debtor must pay to avoid further action.
3. Negotiation and Payment Plans: Sometimes, the debtor business may be facing cash flow issues. In such cases, the creditor might be willing to negotiate payment terms or agree to a payment plan.
4. Engaging a Collection Agency: If internal efforts to collect the debt fail, the creditor business may engage a commercial collection agency. These agencies specialize in debt collection and will undertake efforts to collect the debt on behalf of the creditor, often for a fee or a percentage of the amount collected.
5. Legal Action: As a last resort, if the collection agency is unable to recover the debt, the creditor may choose to take legal action against the debtor. This is typically an expensive and time-consuming process, so it’s usually reserved for significant debts where the potential recovery justifies the costs.
6. Reporting to Credit Bureaus: The creditor or the collection agency may report the unpaid debt to business credit bureaus. This can affect the debtor’s business credit rating and make it more difficult for them to obtain financing in the future.
7. Asset Seizure and Liens: If a court judgment is obtained in favor of the creditor, the court may allow for the seizure of the debtor’s assets or place a lien on property to satisfy the debt.
8. International Collections: If the debtor business is based in a different country, international debt collection procedures may apply. These collections can be more complex due to differences in laws and regulations across countries.
9. Ethical and Legal Compliance: It is crucial that the creditor and any collection agency they engage comply with the laws and regulations governing debt collection, such as the Fair Debt Collection Practices Act (FDCPA) in the United States. While the FDCPA primarily applies to consumer collections, ethical practices should be maintained in B2B collections as well.
10. Documentation and Records: Keeping detailed records of all communications and actions taken in the debt collection process is critical. This documentation may be needed if the case goes to court.

Collecting a debt can be a delicate process especially for big businesses, and it’s important for businesses to handle it lot more professionally. The approach taken should balance the importance of maintaining a good business relationship with the need to recover the funds owed.

While LTC facilities aim to provide housing and care for the elderly, they are also businesses that need to stay aware of their bottom line to continue to provide these services.

Some patients might not have sufficient insurance coverage or financial resources to pay for their care, resulting in bad debts for the facility. Slow reimbursement from insurance companies, Medicaid, or Medicare can create cash flow problems. Private payers might also delay payments. Some patients may have copayments, deductibles, or services not covered by insurance. Collecting these amounts from patients or their families can be challenging.

Need a Collection Agency? Contact Us Serving Nursing Homes Nationwide

Unique aspects of nursing homes and LTC facilities can make getting paid more complex than your average business. This is why these institutions should consider working with a debt collection agency that understands the specific issues faced by these businesses.

Over the next two decades, many Americans will need nursing homes and long-term care (LTC) facilities. As the baby boomer generation goes from retirees to the elderly, these types of institutions will see a massive boom in demand. In fact, by 2040, there will be 4.3 million elderly citizens utilizing nursing home facilities.

It’s Not Always About Collecting Money 

When a debt collection agency works with a standard business, it aims to contact the person who owes the debt and collect money from them or the guarantor/co-signer. For nursing homes and LTC facilities, the biggest challenge they face in collecting their accounts receivables is getting the information they need from family members or other caregivers.

Debt collection companies who specialize in working with nursing homes and LTC facilities know that collecting information is a vital part of collecting for this population and have proven methods and systems to contact family members who may not want to talk and share info. These debt collectors can do this in an ethical way that is sensitive to the situation while still compelling the responsible parties to give the information needed to get Medicaid approved faster.

It’s Not Just Collecting from the Person

When nursing homes and LTC facilities look to get paid for caring for an elderly person, it is not just that person who they can collect from. There is a larger system in place to help subsidize this type of care. A specialized debt collection company will help these institutions collect from multiple sources to get the AR paid.

These sources that a debt collection agency will help your organization tap into include the standard past due private pay balances, SSI balances, Medicare co-insurance, and more. If your institution goes it alone or works with a debt collection company unfamiliar with all the payment avenues, your facility could lose out.

That said, the right debt collection agency also knows that Medicare usually only covers a portion of LTC, and the remaining amount is covered by the elderly or his guarantor. A debt collection agency also has the tools to help collect from these parties.

It’s Not Just About the Debt Going Forward

One more reason that it makes a lot of sense for nursing homes and LTC facilities to work with an experienced, knowledgeable debt collector in their industry is because of Retroactive Medicaid. Retroactive Medicaid is a system that allows Medicaid applicants to receive nursing home coverage for up to 3 months before the date of the patient’s application. For nursing homes and LTC facilities, waiting too long to collect on a person’s AR can lead to losing out on the ability to manage the retro.

The right debt collection company knows how these timelines work and will be able to help your institution get what it needs to get Medicaid billing approved faster so you do not lose the retro. This is critical to keeping your business healthy while caring for the elderly.

Conclusion

The job of nursing homes and LTC facilities is to provide the best housing and care they can. Spending a lot of time chasing past due accounts is incredibly important, but it also takes away from the core mission. Hiring a debt collection agency that works with these institutions is the best way to improve your bottom line.