In most clinics mailing out patient statements is lowest priority for billing staff and is done based on available time. This leads to inconsistent or missed revenue opportunities. Typically patient collections easily amount to 20%-25% of revenue. Even with an effective copay collection at time of visit, a single physician practice can collect over $4000 each month from systematic patient billing. As providers face another round of cuts in reimbursement, it is important that you are effective in your collections.
The main reason for inconsistent patient billing is the amount of time billing staff will need to spend on repetitive manual task in printing, sorting, folding, sealing and mailing these statements. In a single physician clinic, each month this can easily take upto 25 hours. With alloFactor, you gain from the scale in automating this process.
Statement mailing is tightly integrated with your alloFactor Accounts module. You staff continues to manage patient accounts and make any necessary writeoffs/adjustments. alloFactor automatically pulls open statements on set dates, prints and mails out professional looking statements with return envelopes. No more folding, sealing or stamping.
Setting up patient statement mailing is quick and easy. If you are new to alloFactor, download and setup your alloFactor billing software. Next login to admin login and select the statement mailing solution feature.