Sep/16

9

Billing Collection Rate

With any type of business, the success of your company is directly related to receiving payment from your customers or patients. Performing services or providing products without collecting the fees associated will quickly bring your business down. The chiropractic field is no different. If you run a chiropractic practice and are wondering why your revenue may not be as high as you would expect, the first area you should evaluate is your collection rate. Todd Crabtree and our supportive staff can help you better manage billing as well as hold your patients accountable for expenses that they are responsible for.

Collection Follow Through

Chasing down money from your patients is never something that chiropractors enjoy doing. In fact, it may be one of the least appealing parts of the job. However, if you want to be able to run a successful chiropractic clinic for years to come, your collection rate is very important. You should not feel guilty for having to follow up with a patient on them paying their bill. As a chiropractor, you are respectfully providing your patients a service, and it is important that they pay you that same respect back. Depending on how your clinic is structured, you may not even be involved with the billing process. Maybe you should be. Pointing fingers does not have to occur, but it is imperative that you grab a hold of your billing and collection rate.

Reduce Your Error Rate

Another factor that has a large role on a poor collection rate is your error rate. Research by our federal government has shown that the error rate from chiropractic clinics is 83%. Just think about how much money has been lost because of errors in filing claims. You should hold your billing department accountable and Todd Crabtree can help. Our staff has the billing resources and expertise to help you reduce those chiropractic claim error rates once and for all! Todd Crabtree and our support team can help you invest in reliable chiropractic billing software that will immediately reduce your error rate, in turn increasing what is most important, your collection rate.

If you are not satisfied with your chiropractic clinic’s collection rate, it is time for a change. Hold your billing staff accountable and take the extra steps to ensure that claim submission errors are not being made. If you have additional questions or are in need of more detailed guidance around your chiropractic collection rate, call Todd Crabtree and staff today at (651) 351-2899.

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