Use of external billing company by medical practices increased the collection rates for almost 73% of survey respondents according to survey conducted by MGMA (Medical Group Management Associations).
Respondents noted the use of an external billing company has:
- 72.7% reduced days in accounts receivable:
- 72.7% increased collection rates;
- 59.1% decreased the rate of lost and denied claims;
- 59.1% gained better insight into the practice’s financials, physician performance and drive; and
- 45.5% increased staff productivity.