The Lowest Bid ≠ The Lowest Cost
Pursuing the lowest possible price for patient- statements is not the most effective way to reduce your patient billing costs. Providers must factor in the overall cost to bill and collect from patients – from the point of service through collection efforts. Cost reductions are driven not by lower print costs, but by encouraging patients to pay early, reducing the average number of statement cycles, communicating with patients through lower-cost channels, and implementing other strategic process improvements.
Focus on Effectiveness & Cost-Reduction Will Follow
With Apex, you’ll see bottom line improvements driven by top line increases. By optimizing speed to payment, communication channels, and payment options to fit individual patient needs, you’ll see your billing-related costs plummet. Not just in print costs but in calls to your billing center, early out fees, and collection costs.
- Fewer statement cycles, fewer statement pages, consolidated billing statements, and use of more cost-effective billing channels
- Apex customers, on the average, realize a 10% reduction in billing related costs - driven by actionable messaging within a matter of months