medical billing transcription supplier information

Business Editors/Health/Medical Writers

SOMERSET, N.J.--(BUSINESS WIRE)--Nov. 20, 2003

Redefining the economics of third party medical billing services, Medical Transcription Billing, Corp. (MTBC) has introduced full-service medical billing for a flat fee of 4% of collections. MTBC is the first company to apply state-of-the-art software and Internet-based technology to medical claims and patient billings, enabling its customers to reap the benefits of improved practice management and increased cash flow at a reduced cost.

Small medical practices now have a compelling solution for outsourcing their in-house billing, which according to the American Medical Association (AMA) costs an average of 10% of the practice's total revenue. Using MTBC's billing services, a typical practice can save tens of thousands of dollars per year in labor, benefits and other employee-related costs, while retaining control over their billing process. Medical practices also receive payments faster as a result of electronic claim submission and filing, and will see a significant reduction in unpaid claims and account aging.

"Billing is at the heart of any medical practice, and prompt collections is the key to its success," said David Rosenblum, President of MTBC. "The medical billing industry is highly fragmented, with local and regional mom-and-pop firms who cannot afford the infrastructure investment necessary to reap the benefits of the latest technology. As a result, these vendors give their customers little or no control over the billing process or reporting. MTBC offers a nationwide service that maximizes the power of the Internet and technology to give medical providers better control over scheduling and billing, 24/7 access to all of their billing information, and comprehensive practice management reports, while reducing costs."

"MTBC's 4% billing service is highly affordable, even for a solo practitioner like me," said Dr. James Brown, M.D., Athens, GA. "Billing was a major source of aggravation in my office, as it cut into the time my staff and I could spend on patient care. Now MTBC handles everything for us and we can devote more of our time to caring for people instead of chasing down payments from insurance companies, government payers and patients."

# posted by Medical Information : 3:35 AM