Financial Medical Partnership

Benefits of an e-billing system

3 Aug 2011 by FMP Accounts

Updating to electronic billing from a paper system is a good move for any medical specialist seeking to improve their practice’s functions. Electronic billing offers medical professionals an array of benefits that are unavailable in tradition paper invoice systems. Browse this list to learn more about how e-billing could elevate your billing department to a whole new level. 1. Convenience. E-billing consolidates information on one secure server, so there are no paper files to search through to find a patient’s information. All your data is just a simple search and click away, and you can access it from anywhere, at any time. 2. Bills are paid faster. Insurance companies are known to take a long time in paying your invoices, especially when paper bills are sent through the mail. With e-billing, bills will be paid in less than half the time. Typically, e-bills are returned in less than two weeks. This is significantly faster than paper bills, which cake take up to six weeks to be returned. 3. Cash flow increases. When invoices are paid faster, cash flow increases. More cash flow means you’ll be prepared in case of emergency. It also means you can pay your employees and yourself on time, and you’ll likely increase profit margins. 4. Save money. E-billing saves you money because you can cut your office costs. With an electronic system, you’ll no longer need employees to prepare your invoices. You also won’t need to spend as much on office supplies. 5. Open up some space. You can do away with the paper files that used to crowd your billing department. All you’ll need is a computer. 6. Eliminate human error. With some e-billing systems, like Healthcode’s VEDA, the programme automatically checks to make sure invoices are completed properly before they are submitted. You’ll have error-free bills from now on. 7. Connect directly with insurers. The VEDA system allows you to send invoices directly to insurers for faster turnaround time. You can also communicate with insurance houses through the system, so you don’t have to worry about waiting to get someone on the phone. 8. Feel secure. With e-billing, your data is always safely encrypted. Though you can access it easily, your information is safe from anyone else’s eyes. E-billing can do all of these things for your practice and more. With an electronic system in place, your practice’s efficiency levels are certain to improve. You’ll be left with more time to focus on your top priorities--your patients.

Click here to contact us

Latest Articles

9 Apr 2018 - LOG's

18 Jan 2017 - Get paid for your medical reports

10 Jan 2017 - Better Cashflow Medical Practice

20 Apr 2016 - Importance of cash flow.

26 Oct 2015 - Clinic Pre-Payments

10 Sep 2015 - Patient Account Pre-Payments

23 Jan 2014 - End of paper billing for BUPA

26 Oct 2013 - Save Money with Fixed Fee Medical Billing

22 Oct 2013 - The Cost of DIY Medical Billing

17 Oct 2013 - 3 Reasons to Outsource Medical Billing

14 Oct 2013 - 5 Questions to Ask About Medical Billing in your Practice

7 Oct 2013 - The Rise in Self Pay Patients

3 Oct 2013 - New CCSD Classification for Diagnostic Tests Published

4 Sep 2012 - Patient Accounts

20 Jul 2012 - Private Medical Account System

21 Dec 2011 - Year End Accounts

27 Oct 2011 - Medical Debt Recovery

19 Aug 2011 - Private Practice Manager

11 Aug 2011 - Further improving Cash flow

8 Aug 2011 - Remote Administration of your private practice.

5 Aug 2011 - Skip tracing uk and Europe

4 Aug 2011 - Financial Medical Partnership Ltd drive for eco-friendly billing

3 Aug 2011 - Recent years have seen an increase in self-pay patients

3 Aug 2011 - Getting paid quick with less paperwork and better records

3 Aug 2011 - Electronic billing improves customer care

3 Aug 2011 - Benefits of an e-billing system

3 Aug 2011 - Efficient practices use e-billing

3 Aug 2011 - Updating to electronic billing and office management

3 Aug 2011 - Choosing the right accounting option for your practice

3 Aug 2011 - Practice Manager Software

3 Aug 2011 - FMP’s fixed-price billing saves specialists money

3 Aug 2011 - FMP saves you time and money

3 Aug 2011 - FMP beats all billing competition

2 Aug 2011 - Don't let'Bad Payers damage your practice.

2 Aug 2011 - Self funding patients

2 Aug 2011 - Keep the cash flow in 2011

2 Aug 2011 - Paying less tax for your medical practice.

2 Aug 2011 - FMP Saves you time and money

2 Aug 2011 - Efficient practices use e-billing

2 Aug 2011 - No Success No Fee Medical Collection

2 Aug 2011 - FMP Service

2 Aug 2011 - Good cash flow is crucial for business

12 May 2010 - Consultant Cash flow

30 Sep 2009 - Electronic Medical Billing

25 Jan 2008 - Consumer Credit Licence held by Medical Associates Limited, Credit providor for Financial Medical Partnership Limited

25 Jan 2008 - Consumer Credit Licence

29 Dec 2007 - Saving Money Using Fixed Price Electronic Billing.

29 Oct 2007 - Credittel International

29 Oct 2007 - Competitive finance arrangements for private patients being offered by doctors, to develop their self-pay market

29 Oct 2007 - Development of the Self-Pay Market in Medicine in the UK

FMP P.O. Box 1487, Surbiton, KT1 9RB, England, Company No. 03066638                
Tel 0208 398 9555