Owner wants more time to focus on business development and diversifying revenue
- Problem: An owner at a large DME provider was frustrated with the amount of time billing issues were requiring of him. This company believed their DME billing could be better, but the answer of ‘how they could do better’ wasn’t obvious.
- Solution: This large DME provider asked us to perform our proprietary Benchmark & ROI Review, knowing we had a team of highly skilled professionals that would review their revenue cycle.
- Results: They learned they were at an 88% collection rate. They hired us, and in 12 months, we increased their collection from 88% to 97%, while shortening the DSO from 75 to 44 days. In this same 12-month period the owner was able to focus on business development, growing revenue by 50%! When you outsource your billing hassle, there’s more time to hustle!
DME company wants clear, easy communication
- Problem: A DME company struggled to communicate with their outsourced billing team and was concerned their billing wouldn’t be ‘audit ready’ should an audit occur. Language, culture and time zone barriers were impacting billing practices and service.
- Solution: After hiring Medbill, they fell in love with our 100% US-based staff which made communication, adjustments and understanding easy along the way.
- Results: This company realized 12% growth in monthly collections within their first 8 months. With an increase in compliance, and knowing they were ‘audit ready’ there was a significant increase in “peace of mind” for this successful business owner. Is your billing department “Audit Ready?”
One skeptical and analytical CEO wants proof that there is value in outsourcing
- Problem: This company didn’t understand the deficiencies in their process or have an accurate view of their data to make an informed decision.
- Solution: Through the Medbill Benchmark & ROI Review he learned where his money was getting lost in the revenue cycle, and he decided to hire Medbill.
- Results: His collections increased from 83% to 97% in the first 8 months, and is now at 98%. By outsourcing to Medbill, he decreased his billing issues, increased revenue, and shortened DSO (Days Sales Outstanding) which allowed this CEO and his business development executive to maximize their time growing the business and within 24 months his business grew by 41%. Do you know your collection rate? Are you wondering how much it could improve? Let us show you. If you ask him, this CEO will tell you he wishes he didn’t wait so long to outsource his billing to Medbill.
Medium size DME provider wants more money, faster
- Problem: It was taking too long to receive payment from their billed claims.
- Solution: This medium size DME asked Medbill for assistance in understanding why it was taking so long to receive payment.
- Results: They hired Medbill, and we improved their DSO by 17 days in their first 15 months. What are you doing to improve your DSO? Order your Medbill Benchmark & ROI Review now and let our Medbill team show you how you can improve your cashflow and get your money…faster!
Owners want a consistently shorter DSO and higher collection percentage
- Problem: This DME provider’s billing solution was creating cash flow issues for the company, and they couldn’t pinpoint the problem.
- Solution: Requested their Medbill Benchmark & ROI Review at no charge and learned where their billing issues were occurring. They determined the solution was outsourcing their billing to Medbill.
- Results: They experienced a 14% increase in revenue in 8 months, went from an 84% collection rate to a 98% and enjoy an average 32 day DSO! Why is it taking your business more than 45 days to collect? Find out today, request your Medbill Benchmark & ROI Review and our let our Medbill team show you how and where to improve your revenue cycle!