| You have heard this phrase over and over: | | | | services it is easy to wonder where their true |
| Industry's Best Practices. However, what is "best | | | | competency lies. If your focus is on getting out |
| advised" by business experts is often very hard | | | | those bills accurately and on time and getting |
| implement in the day-to-day. Nowhere is this | | | | payment back in the same fashion, find a firm |
| more evident than in the timely and consistent | | | | who is laser-focused on consistent statement |
| management of accounts receivable. If you are | | | | processing and delivery. Look for companies that |
| struggling to keep up with billing and accounts | | | | can demonstrate experience in your field. |
| receivable as a whole, outsourcing your statement | | | | Size Matters |
| processing may be a wise option to consider. | | | | If you are a small practice or even a |
| How Can They Help? | | | | "solopreneur," a large billing firm working with |
| Outsourced billing companies help alleviate the | | | | Fortune 500 companies is probably not a good fit |
| burden of collection woes, menial data entry and | | | | for you. It may serve you well to look for an |
| tedious statement processing. The top companies | | | | outsourcing firm that is either geared towards |
| offer options within each of these realms. Firms | | | | firms your size or versatile solutions. |
| can take full control of the process from initial | | | | References, References |
| data entry and coding to sending out individual bills, | | | | Ask around. Consult your profession's regional, |
| collecting payments, and even making sure | | | | local and national associations. Ask other |
| updates are regularly performed.. Not all offices | | | | colleagues. Whom do they use and why? Make |
| need full accounts receivable management | | | | sure you ask them what particular services they |
| services. Some just need their current system | | | | are using and what success they are seeing. If |
| streamlined and a reputable company can do that | | | | you regularly collect from other paying entities |
| as well, recommending only what you need. But | | | | (insurance companies, for example),| ask them |
| how do you find the best company? | | | | about which firms they prefer to work with.. |
| Who Are These People? | | | | They will be able to identify billing services that |
| The Web is a wonderful thing. You can research | | | | represent the companies they work for well. You |
| topics and people like never before. Research the | | | | don't need an irreputable company ruining your |
| firms you are considering. Who owns them? How | | | | reputation. |
| long have they owned the company? What's their | | | | For many companies, outsourced billing is the |
| track record like? You need a statement | | | | onlyway to go. Streamlining data entry, statement |
| processing company that offers a revenue cycle | | | | processing, and collections follow-up is sometimes |
| solution to benefit your bottom line - not snarl | | | | something that cannot be done by a business |
| you up worse! | | | | owner trying to work in his business. Often we |
| Do They Serve Your Sector? | | | | just need someone to alleviate us from the |
| This may seem obvious, but pick a firm that | | | | menial tasks so we can focus on our core |
| specializes in your industry's billing needs. A lawyer | | | | competency. Having a company dedicated to |
| does not need the same online billing service as a | | | | ensure efficient bill processing is absolutely an |
| medical practice. Also, many firms offer so many | | | | investment to consider. |