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Accounting News
PRESS RELEASE ARCHIVES FROM SEND2PRESS® NEWSWIRE
NOTICE: THIS IS ARCHIVAL CONTENT AND LIKELY OUT OF DATE.
Edited for Send2Press by Carly Zander
STAT Medical Consulting, Inc. Maximizes Revenue and Increases Cash Flow Through Expert Coding and Billing Outsourcing for Physicians and Health Care Providers Everywhere
LOS ANGELES - February 20, 2004 /Send2Press Newswire/ -- Due to the rising cost of healthcare and
the shift towards more HMO growth, it's costing physicians and healthcare providers twice as much
to collect reimbursement from insurance companies and patients than ever before. As a result,
many physicians are experiencing a substantial decrease in cash flow.
What can these providers do to ensure they stay profitable and viable in this volatile industry?
According to Sharon Hollander, President of STAT Medical Consulting, Inc. (www.statmedical.net),
a coding and billing service based in Encino, California, there is a solution to this loss of
revenue.
"One effective way to cut costs and increase cash flow is to outsource one's billing and
receivables," says Hollander. "It's been proven that medical billing outsourcing reduces a
physician's overhead by nearly $35,000.00 per year, and can increase revenue by as much as 20
percent."
Keeping Up With Changes
When it comes to billing patients and insurance companies, many healthcare providers are unaware
their billing department is not keeping up with the rapid changes in billing requirements. The
viability of a physician's practice is dependent upon accurate and correct billing. "Without
accuracy," says Hollander, "you could not only lose revenue, but providers could be indicted for
billing fraud which can result in a tremendous financial loss or even bankruptcy."
Outsourcing: The Way of the Future
Prior to medical billing outsourcing, healthcare providers have had no other choice than to hire
full time staff or create entire departments to do the job. Instead of paying employees
regardless of the results of their efforts, a billing service is one way to eliminate overhead
costs associated with performing the billing.
Increasing Cash Flow Electronically
Medical billing outsourcing has all the necessary equipment to process claims electronically,
which can cut wait time in half, as well as eliminating costly coding mistakes.
Concludes Hollander, "Whether you are a family doctor, a heart surgeon, or a general surgeon, or
an outpatient ambulatory surgery center, STAT Medical Consulting, Inc. can prevent your cash flow
from becoming a flat line!"
More information: (818) 907-STAT.
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