Businesses today have a lot to worry about with their accounts receivable, and no where is that more evident than in businesses that are considered essential by most Americans. After all, just about everyone in the United States deals with utility companies, cable and internet providers, doctors, hospitals, and urgent care centers. At some point in their lives, they will have to pay for these services via paper or online bills.
Fortunately, for those who run such businesses, there are ways to streamline billing and statement processing to keep workers and consumers happy. Here are two specialized billing services that these essential consumer services may benefit from:
Medical Billing Outsourcing
Busy doctor’s offices and medical facilities know how important it is to send customers their bills as soon as possible. Unfortunately, however, such offices have so many patients on a daily basis that it is easy to fall behind on billing. Medical billing and coding, especially, poses a challenge because even two transposed numbers can create headaches for doctors and patients. By using a medical billing service, these facilities can ensure that their statements are sent out in a timely manner and include the most accurate information possible.
In addition to sending out paper bills, a company that specializes in outsourcing medical billing can also provide medical offices with online billing services. These platforms give patients and staff members easy access to medical bill pay and archiving systems. Electronic invoicing gives patients a simple method of paying their bills and keeping track of them, and it allows businesses to save approximately 11.5 cents per billing statement when customers go paperless. That’s good for customers, businesses, and the environment.
Utility Billing Solutions
Because so many people use public services, like water, electricity, and gas, it can be difficult for utility companies to keep up with their billing systems. Additionally, many Americans have difficulties understanding the surcharges and fees associated with their bills, which makes customer service overloaded at times with requests for clarification. Both of these problems, however, can be solved by outsourcing to companies that provide utility billing solutions.
Outsourced utility billing can provide companies with better billing practices to speed up collection times by as many as one to three days. They can also reorganize bills in a way that better explains charges, so there aren’t as many confused consumers calling the customer service hotline. These utility billing solutions aren’t only for municipal water or power companies. Other common carriers like phone, cable, internet, and satellite companies can also benefit from outsourcing their utility billing services to a statement processing company.