Medical Billing Service
The growing healthcare industry is creating a change in the payment landscape for both payers and providers. Hiring a skilled medical billing service can be just the answer for your healthcare practice.
Any business will not survive long without an income. Healthcare practices are no different. For them to be able to continue to provide care, they need to have the revenue necessary to afford salaries, equipment, pay for insurances, etc. It isn’t helpful to practices that on top of all the expenses, they have an increased risk of losing income due to the complexity and policies of different payers.
If your practice is thinking about how to increase your bottom line, reduce costly administrative expenses, ensure uninterrupted cash flow, and, most importantly, allow you to give your patients the best service possible? Then hiring a skilled automated health care payment medical billing service can be just the answer for your healthcare practice.
Health care providers strive to reduce administrative costs while maximizing electronic payments adoption with a focus on increasing cash collections.
Simplifying the payment process with consumer-friendly payment options for both consumer payment collection and premium payment processing is the solution.
Many medical practices have their plates full managing patient care. Outsourcing medical billing can give them the much-needed solution from the day-to-day stress of managing a growing practice.
If you are still unsure whether outsourcing makes sense for your practice, consider yourself an excellent candidate to outsource if:
- Your collection percentage is subpar when compared to the average for your specialty
- Your billing process is not efficient and collection times are high
- Your collections have not increased with increasing productivity and more top gross billing
- You have trouble finding and keeping experienced billers and coders.
- You’re starting a new practice (and looking at considerable upfront costs)
- You want to focus on patient care and leave the business end of things to the experts
- You’re not technology savvy, and neither is your staff
- You don’t have an in-house IT person to handle hardware and software problems and upgrades
Each practice is different, and it’s impossible to state that one formula will work best for everyone unequivocally. The results may surprise you. You could be spending too much on collections. Worse still, you could be leaving revenue uncollected.
Medical Billing Service
IOSoft provides proprietary software for medical billing, healthcare claims adjudication and electronic payments between healthcare Payers and Providers, along with payment software platforms for corporations, government & institutional organizations.
IOSoft provides targeted product offerings for healthcare providers, provider networks, physicians and hospitals; and clearinghouse companies.
IOSoft’s UPC™ platform is focused on improving the plans’ security, management, and control over their payments process.
The IOSoft team has pioneered the development of automated health care payment systems since 2006.
IOSoft understands and has addressed many of the industry challenges and created the industry’s most comprehensive problem solving, the cost-effective medical payment system in today’s market.
Building on its extensive experience, IOSoft is pleased to present its latest Unified Payment System™ (UPS). UPS begins with a Cloud-Based system interface that connects with all claim system technology and can be implemented in 30 days or less with no or minimal workflow changes.
The Cloud-Based System provides a common portal, giving the Provider and Payor a universal Gateway that allows for more exceptional communication and a standard decision matrix.
UPS offers every type of available payment on the portal with enhancements to traditional payment types and patent-pending new technology with significant cost savings.
IOSoft Inc. also has several other platform developments such as automotive warranty payments.
Since formation, IOSoft has been a third-party developer of software and provides IT support for the platforms developed. IOSoft was chosen to provide “best in class” payment technology to include its industry-leading Virtual Check.
IOSoft Inc. was formed in 1998 and acquired by RJD Green Inc. (RJDG) on April 18, 2016.