Automate billing to reduce costs and support practice growth

What automation can do for the billing teams

It’s vital for patients to be delighted by their provider experience given their increasing options and demand for immediate care. Successful ambulatory clinics are also efficient. Automation greatly improves efficiency by handling more tedious tasks.

Without automation in the revenue cycle, an ambulatory practice can experience:

• Increased administrative costs
• Payment discrepancies and chargebacks
• Unidentified or partial payments
• Delays in payment posting or inaccuracies
• Lack of transparency and accountability in audits and payment activity
• Rise in denials
• Reduced patient satisfaction, leading to fewer referrals and return visits
• Difficulty managing multiple different legacy systems
• Challenges associated with rapid growth and expansion to new locations

MediStreams collaborates regularly with ambulatory practices to optimize payment processing efficiency while elevating the overall patient journey. Our approach focuses on error reduction in billing processes through automation. In the realm of sensitive healthcare data and financial transactions, achieving a delicate equilibrium between automation and data security is paramount for providers.

Key Benefits:

• Reduce errors that lead to discrepancies in financial records and delayed revenue recognition
• Process payments more quickly
• Improve cash flow
• Reduce manual labor, leading to cost savings in staff and resources
• Project revenue more accurately and reallocate resources accordingly
• Enhance compliance and adhere to billing and reconciliation regulations
• Improve patient satisfaction and public perception, fueling your organization’s organic growth
• Increased opportunity for growth, with a solution that easily scales as practices expand