WOODLAND HILLS, Calif. and PHILADELPHIA, May 6 /PRNewswire/ -- Physicians' Choice, a medical billing service focused on the emergency room physician market, has successfully implemented InstaMed's single, integrated healthcare payments platform, which includes both payment and clearinghouse solutions. As healthcare providers and their billing partners experience increased pressure to collect from payers and patients, InstaMed's solutions are delivering new value to the revenue cycle by accelerating payments and reducing operational overhead by providing increased automation and efficiency.
Billing services like Physicians' Choice continually search for ways to increase patient collections for their provider clients, while also reining in operational burdens related to self-pay collections. By deploying the InstaMed Patient Payment Portal, Physicians' Choice has reduced collection, posting and reconciliation costs and time while increasing patient satisfaction by giving patients more flexible payment options through payment plans and online bill payments. To date, Physicians' Choice has increased patient collections while saving over 44 hours per month - time which is now being redirected towards higher value activities.
Physicians' Choice has also benefitted from implementing InstaMed's clearinghouse solutions, which have accelerated payer responses and payments, while reducing the work effort spent on claims follow up. To date, Physicians' Choice is experiencing responses up to 90% faster than those from previous clearinghouses, which expedites payer reimbursements and increases efficiency around claims follow up and troubleshooting.
"InstaMed's integrated solution gives our staff one solution to manage patient and payer payments," stated Jonathan Sturm, Vice President at Physicians' Choice. "Getting paid in healthcare is a very detail oriented process and being able to rely on a unified technology and service solution has proven very beneficial to our business and to our clients."
Bill Marvin, President and CEO of InstaMed stated, "We are excited to see the results of our partnership with Physicians' Choice. InstaMed's job is to get healthcare providers paid in spite of the complexities of managing over 2,000 healthcare payers, tens of thousands of payment cards, checks and other forms of payments."
Chris Seib, Chief Technology Officer of InstaMed stated, "By delivering one integrated platform and network that handles every healthcare and payment transaction in the revenue cycle, InstaMed's solutions dramatically simplify the healthcare payment process. Additionally, InstaMed delivers a single solution that meets and exceeds the increasing compliance and regulatory requirements that are put on healthcare providers and their billing partners to transact within the healthcare and financial services industries."
About Physicians' Choice
Physicians' Choice, LLC is an experienced billing management team dedicated to meeting the challenges of emergency physician reimbursement. Founded by a practicing ER physician & medical director, we institute a unique model approach to address issues from the clients' perspective. Physicians' Choice provides the industry's only true customizable data collection and processing system with a fully capable electronic process from start to finish. We have proven to be a beneficial information partner, and consistently gain stellar financial results. Physicians' Choice: The innovative leader in emergency physician billing
Visit Physicians' Choice on the web at www.physchoice.com.
InstaMed is the industry leading healthcare payments network and platform. InstaMed's mission is to transform the healthcare payment process for healthcare Providers, Payers, Banks and Patients so their payment experience is simple, convenient, reliable and secure. InstaMed processes all of the healthcare and payment transactions in the healthcare revenue cycle and offers patent pending, integrated healthcare and payment transactions that accelerate the healthcare payment process and reduce the administrative costs to all parties. InstaMed currently supports the healthcare payment processing needs of over 900 hospital and clinic locations; practice management vendors and billing services representing over 50,000 providers; and hundreds of healthcare payers of all sizes. InstaMed is registered with Visa and MasterCard and is certified as a Payment Card Industry Data Security Standards (PCI-DSS) Level One Service Provider. InstaMed is also fully accredited by the Electronic Healthcare Network Accreditation Commission (EHNAC) as a healthcare clearinghouse. InstaMed is an AHIP Solutions Partner (America's Health Insurance Plans), a member of the C.O.R.E. Initiative (Committee on Operating Rules for Information Exchange), the Medical Banking Project, ASC X12, HBMA (Healthcare Billing & Management Association), Electronic Payments Network ACH Association Services, MGMA's Project SwipeIT (Medical Group Management Association) and WEDI (Workgroup for Electronic Data Interchange). Visit InstaMed on the web at www.instamed.com.
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