No, CureCloudMD offers the most cost-effective AR recovery services helping you reduce your capital and operational expenses. Instead, aging account receivables and bad debt make it more difficult for the healthcare provider to improve their cash flow.
Therefore, outsourcing AR recovery services is a more convenient option for those healthcare providers who are looking for cost-effective AR recovery solutions. Here is how outsourcing account receivable recovery services help you increase cost savings and prove to be a less expensive solution than an in-house medical billing department.
In order to make sure that your accounts are running properly, it is essential to hire an AR recovery specialists who are responsible to reduce your bad debt and ensure that your income is collected completely and timely.
In order to hire an in-house AR recovery specialist, you have to invest a huge capital investment to research, interview, onboard, and train an employee. You also have to regularly pay for the salaries, paid holidays, annual bonuses, and performance appraisals of every individual on the team.
On the other hand, when you outsource account receivable recovery services to a reliable AR recovery company then you only have to pay a fixed amount according to the contract.
For example, CureCloudMD only charges a fixed percentage of the revenue that we collect on your behalf after appealing your claims. You can access a professional team of AR recovery specialists from a remote location at a small fraction of your existing staffing expenses.
IT and administration Expenses:
In order to run an in-house medical billing department, you have to deploy a well-structured IT set up including the costs of hardware, data storage, networking and software for the AR recovery department.
Also, you would need to spend more on buying stationery, office furniture and paying utility bills. You won’t have to bear these expenses when you outsource AR recovery services.