Payspan’s Electronic Medical Billing & Invoicing Systems
E-invoicing has existed in the world of claims and payments for a while but many providers within the healthcare system still use dated, conventional paper billing methods to deliver billing information to patients.
Like versions of an electronic device, new technology replaces older methodologies, practices, and systems that either no longer serve their purpose, or can be switched with something better, faster, and more profitable. Such is the case with Payspan’s electronic billing and invoicing services.
We already know that e-invoicing accelerates the overall billing process at any office, thus making it the more patient-focused practice – but there are other benefits that are also worth mentioning.
A successful practice owner is one that knows of all the big and small areas within his/her practice and the way it is run, where cost-cutting can be implemented without compromising on service. The amount of money that you can save on your expenses per month translates to bigger profits per annum.
For instance, did you know that paper invoicing is estimated to cost nearly $31 to prepare, process and deliver – while e-invoicing is up-to 70% cheaper? At this rate, the latter is will constitute only a fraction of the amount that you have allocated to your monthly invoice processing budget.
Automation means less manual work, and less manual work translates to less chances of error. Processing invoices through Payspan is simple because these invoices are automated from one system to the other without involving a great deal of human intervention and input.
On the same note, with an error-free invoice delivered to a patient within a smaller time frame than before, practices are likely to get paid twice as fast. You can also trace your electronic invoice to determine the exact stage of the process they’re currently in.
Lastly, at Paysan, we understand how critical it is to safeguard and protect patient data at all times. With our electronic invoicing, you can rest assured that you have done your part to minimize the risk of fraud/billing scams through secure, encrypted data that is delivered and received via reliable networks.
With little or no chances of lost/missing invoices, processing errors, cycle delays, billing scams, and late payments – perhaps the only thing standing in your way to success and profitability is a dated system. Switch to electronic invoicing with Payspan today to experience the difference.