That’s the way the money goes… Simon Brignall presents the second part of his feature on how private consultants are losing money unnecessarily in the billing and collection process.
In last month’s article, I started to cover some of the main issues that had initially surprised me when consultants detailed the various challenges they had with the billing and collection side of their practice.
Having been director of business development at Medical Billing and Collection (MBC) for the past five years, I have become far more familiar with these issues and I would like to complete this process by covering some of the remaining topics that still come up during the meetings I have with independent practitioners now.
The major insurance companies demand that the practice sends invoices electronically – referred to as electronic data interchange (EDI). Bupa and Vitality have mandated that they only accept invoices that are submitted using this method.
There are many benefits of electronic billing, including proof of receipt as well as faster processing and payments, but, unfortunately in practice, this billing method is not always as easy as you would expect.
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