Navigation Links
Radiologists Help Patients Understand Radiology Expense and Increase Revenue With RadiologyBill
Date:12/4/2013

Richmond, IN (PRWEB) December 04, 2013

RadiologyBill is a resource now easily accessible to patients for helping them learn about the process of medical costs and billing. This effort stems from the desire to shrink healthcare revenue shortfalls by identifying valid insurance claims and government benefits. With diminished insurance coverage, higher deductibles, and government benefit cuts on the rise —it is becoming considerably more important for Radiology Professionals to provide innovative solutions that clearly communicates to patients their expenses.

Typically, the Radiology Revenue Cycle allows 30-60 days before a patient receives an imaging or X-ray bill. In many cases, individuals don’t understand why the bill wasn’t covered by insurance or government benefits. This unexpected expense for the patient is what generates the problem. Furthermore, medical facilities’ office operations can become overwhelmed, and physicians are often unable to educate patients about their financial responsibilities. Currently, up to 12%* of patients are billed for accounts that should have been covered by a benefits plan. These errors frequently occur due to unintentional administration mishaps or incorrect patient information. Radiologists usually assume losses on accounts resulting from miscommunication as bad debt.

Statistically, this issue triggers a huge hit to the industry. The Medical Imaging and Diagnostics Industry generated $21 billion in revenue with losses of nearly $1 billion in 2012**. This dilemma can also result in a 3-10%* overall loss for a radiology practice regardless of a billing company’s reconciliation process. This deficit increases the general imaging diagnostic cost for all patients across the United States.

RadiologyBill identifies shortfalls occurring in the revenue cycle to grow revenue for diagnostic imaging centers. “We are the last stop in the Revenue Cycle for Radiologist,” says Chris Coleman, Vice President of RadiologyBill. “If a bill is unpaid and a patient has a dispute, we seek to understand why and identify the right party payer. Sometimes the patient is responsible for the outstanding radiology bill and simply needs an explanation why it was not covered by their benefits.”

Our studies indicate educating patients about billing and offering payment options reduces losses for Radiology Practices by 34%**. Further data confirms a culture focused on efficient communication, accurate billing, and working with patients builds trust between the practice and the patient. This is what RadiologyBill works to create—and the end result of this approach leads to genuine patient satisfaction.

About Radiologybill

RadiologyBill is a third generation family owned and operated radiology bill collections firm servicing radiologist since 1955. Decades of experience and the latest technology allows us to have results beyond a large global agency. We use the personal attention of a family owned business. We are a member of the American Collectors Association and through the years have held many positions on the board of directors of the Indiana Collectors Association, and American Collectors Association. RadiologyBill manages over $60 million in debt collections annually. For more information please visit http://www.radiologybills.com.

  • IBISWorld, **RadiologyBill

Read the full story at http://www.prweb.com/releases/2013/11/prweb11350009.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Non-radiologists perform majority of ultrasound-guided invasive procedures, study suggests
2. Long Beach Radiologists Give Uninsured Patients a Solution to the Affordable Care Act
3. Outsourced radiologists perform better reading for fewer hospitals
4. Most patients in the dark about what radiologists do
5. Lung nodule matching software dramatically increases radiologists efficiency
6. Radiologists rank themselves as less than competent on health policy issues
7. Diet Doc Hormone Diets & Weight Loss Plans Reveal Innovative Weight Loss Pills, Saffron Extract, and Natural Hormone Treatments That Help Patients Reach a Healthy Weight
8. New No Cost Exams and X-rays for New Patients Available from Stonehaven Dental Offices in Salt Lake City
9. UK review examines gender differences in COPD patients
10. Diet Doc Hormone Diets & Weight Loss Plans Reveal Advanced Diets to Eliminate Diabetes Symptoms Caused When Patients Gain Weight
11. Disability, distress in RA patients cut in half over last 20 years
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... (PRWEB) , ... March 28, 2017 , ... Alert Sentry ... of MPERS (Mobile Personal Emergency Response Systems), the iSAFE and the iSAFE Plus. These ... market. The first of their kind, the iSAFE and iSAFE Plus offer direct GPS ...
(Date:3/28/2017)... ... March 28, 2017 , ... WHO: , Dr. Paul Thomas; Dr. Brian Hooker; ... doctors and PhD scientists will speak to the press on behalf of over 200 ... an independent vaccine safety commission. , WHERE: , Zenger Room, National Press Club, ...
(Date:3/28/2017)... ... ... The Radiology Business Management Association (RBMA) is pleased to announce ... director. Mr. Still was selected through a careful months-long search by the RBMA Board ... to our members, has been a part of building the RBMA since 1992,” said ...
(Date:3/28/2017)... ... 2017 , ... Award-winning medical group Allied Anesthesia today announced ... chair for Orange County health care system CalOptima Friday. CalOptima announced its election ... Mark Refowitz’s term, which runs through June 30 of this year, until another ...
(Date:3/28/2017)... Lithuania (PRWEB) , ... March 28, 2017 , ... ... technologies, today announced the release of two biometric time and attendance tracking products: ... Attendance 4.0 software. NCheck Cloud Bio Attendance uses biometric face recognition to ...
Breaking Medicine News(10 mins):
(Date:3/27/2017)... Columbia , March 27, 2017 LightIntegra ... has appointed William "Bill" Dubiel as President and Chief ... also elected to the Board of Directors of LightIntegra. ... the Executive Chairman of LightIntegra. "This ... next President and Chief Executive Officer. We,ve selected a ...
(Date:3/27/2017)... 27, 2017 To mark the end of Save ... a leader in digital imaging solutions, will showcase Canon eye ... at New York,s Jacob Javits Center ... Month, sponsored by the American Optometric Association, is observed annually ... receiving comprehensive eye exams. In recognition of this observance, Canon ...
(Date:3/27/2017)... 27, 2017  A new survey from ... Medicare,s Competitive Bidding Program (CBP) significantly reduced beneficiary choice ... lack of choice forces beneficiaries to switch to unfamiliar ... consequences. AADE,s survey is the latest ... others pointing out the inherent problems with the CBP. ...
Breaking Medicine Technology: