Vericle's Clients in Press
| Billing
Depot Outperforms the National Median for
Medical Claims Processing by 300% -- Billing Transparency is Key to Expedited Claim Payments  Download
in PDFPhysicians using Billing Depot service experience 93% of insurance claims paid within 60 days, with only 4% of Accounts Receivable (A/R) beyond 120 days. These figures represent a four-fold improvement over the national median of 17.7% of A/R over 120 days, as reported by Medical Group Management Association (MGMA). Billing Depot has achieved these results with a uniquely transparent service that provides physicians 24x7 access to real-time claim status over a HIPAA-compliant Internet connection. East Windsor, NJ (PRWEB) February 3, 2005 -- Physicians using Billing Depot service experience 93% of insurance claims paid within 60 days, with only 4% of Accounts Receivable (A/R) beyond 120 days. These figures represent a four-fold improvement over the national median of 17.7% of A/R over 120 days, as reported by Medical Group Management Association (MGMA).Billing Depot has achieved these results with a uniquely transparent service that provides physicians 24x7 access to real-time claim status over a HIPAA-compliant Internet connection.  “Most claim denials and associated
follow up costs and delays are caused by
billing errors,” explains Pat Freeze,
President of Billing
Depot. “By providing billing transparency,
we keep the healthcare provider ‘in
the loop’ during all phases of the
billing process; allowing the provider,
the billing service and the payer to resolve
problems together as soon as they are detected.” Continuous
availability of the big billing picture
and all of its components make the entire
process transparent to the provider. The
provider receives real-time updates about
changes in A/R and cash flow, new claim
submissions, error detections, follow up
actions, and posted payments. A special
notification and tracking mechanism prevents
neglect and facilitates timely problem
resolution. Dr. Michael Lewko, Chief Medical Officer, Care Management at St. Joseph’s Hospital in New Jersey, and America’s Top Physician 2003 by Consumer's Research Council of America, agrees, “Since I have outsourced my billing to Billing Depot, my revenue from collections has been steadily improving. Most importantly, I now have more time for my patients.” Dr. Lewko concludes, “Billing Depot allows me to keep both my finger on the financial pulse of my practice and my eye on the billing service provider. Billing transparency is key to holding the billing service accountable for every claim 24x7.” About Billing Depot Billing Depot, Inc. provides comprehensive medical billing services to physicians and represents a significant improvement over traditional in-house or outsourced billing solutions. With headquarters in East Windsor, New Jersey, Billing Depot guarantees improved profitability and 100% transparency throughout the Billing Process. Contact Information: Pat Freeze, President Billing Depot (877) 542-4557 Billing Depot |