A recent survey concluded that 83% of small physician practices with fewer than five doctors report that slow payment of accounts from high-deductible health plans is their biggest cash flow hurdle, as reported by Black Book. Can tech-powered RCM solutions help these smaller practices? Yes, they can.
A new service line developed by Meduit addresses this need. This groundbreaking product—called Meduit One—functions as a virtual collection agency, resolving accounts receivable and driving cash for small physician groups, specialists, chiropractors, dentists and veterinarians.
Meduit One leverages Meduit’s proprietary collection process to accelerate cash while providers only pay for success. In a new video, we take you through how Meduit One works virtually to resolve accounts efficiently and cost-effectively.
Here’s a quick overview of how it works:
- Provider places account(s) for collections online
- All account submissions are visible once submitted
- Robust reporting provides immediate access to placements and their status
- Provider can drill down in reports to any individual account simply by clicking on the entry
- Once placement is submitted, Meduit One team takes over to begin collections process within 1 to 2 business days
- Daily, weekly or monthly statements are generated
- Instant online chat is available
- Additional training resources are provided
Watch the video here to see how the virtual collection agency works and how to sign up for Meduit One.
We look forward to helping you streamline collections and fueling your bottom line with tech-powered solutions like Meduit One so you can focus on patients, not payments while only paying for success.