MBC has been able to advise me on all aspects of the financial side of my practice to ensure I am now billing efficiently. It has also added a range of new capabilities such as being able to take payments by debit or credit card without maintaining my own system to achieve this. What I would pass on to other consultants from my experience is to not to let your practice outgrow your current arrangements or a growing practice hide the fact that your practice is not as financially healthy as it could be.
Transferring my billing and collection to MBC has been a huge success. I joined in 2012 and since then they have collected over 99.99% of what has been invoiced. When I joined I had a backlog of unpaid invoices of over £100,000 which since then has been collected in full. Joining MBC has saved me tens of thousands of pounds which outweighs any fees I have been charged.
I have been with this excellent company since 1995 when they sorted out my billing for me completely which was a complete mess. Since that time they have continued to demonstrate what an excellent company they are providing an excellent service not just for billing but also about invoicing in general, helping with relationships with insurers, Embassies and the like and carrying out various negotiations for me on my behalf. I cannot recommend them too much
Throughout secretarial changes, MBC have provided a vital continuity on the billing side, and I'm not sure how I coped without them!
As an increasingly busy private psychiatrist, I made some common mistakes as my practice grew:
- I let my PA do my billing
- I failed to keep an accurate eye on debt, and particularly on aged debt
- I told myself that being too assertive with indebted patients would look “commercial” and would damage my relationships with patients and
- I told myself that using a billing company would be expensive and might alienate patients
The predictable result of this thinking was a heap of debt, aged between one month and 4 years old, totalling hundreds of thousands of pounds.
Enter MBC, and a whole new way of looking at my practice. Within one year, we had:
- Recovered most of the debt (MBC’s fees for the first two years were recovered in the first month)
- Written off unrecoverable debt (I learned that this is vital in order to recoup the higher rate tax already paid, on monies not received!)
- Introduced new procedures to ensure that no patients carried significant debt henceforth
- Better relationships with patients and referrers
- Far less stress on both me and my PA
- Far simpler accounts and record keeping
- Increased practice income
I wish I had placed my billing with MBC years ago…..
Since I moved to MBC my practice has been transformed and my income improved. Particularly with changes in the private market this kind of service is now essential
I started using Medical Billing & Collection last year. They are highly professional & meticulous. The cash flow for the practice has improved immensely. Like in many practices, my PA was so busy dealing with phone calls, emails, booking tests and procedures etc.etc.and so credit control was always behind. Not anymore. It's a great relief to have MBC look after that for me.
Using a dedicated billing service has transformed the practice. In particular releasing time to deal with medical aspects of treatment whilst billing details and increasingly complex insurance problems are handled in a professional way by MBC.
I cannot recommend highly enough their considerate and efficient service which has benefited patients as well as our practice.
Our only regret is not converting earlier.
I am very happy to have partnered with MBC for the billing of my private GP practice. They have they been very successful in collecting and reconciling the majority of my outstanding debt which was one of the key reasons I decided to work with them. I had concerns initially of the transition to outsourcing due to the unique and ongoing nature of the relationship a private GP has with their patients. I am happy to report that their staff have provide the same professional service level that my patients expect from my practice that has meant no issues have arisen and patient feedback has been positive
I started using Medical Billing & Collection in 2011 following a recommendation from a friend. Previously my collection rate for private fees was very poor, partly due to my disorganisation in sending out bills or later on checking whether they had been paid. By using MBC's services, my collection rate is now 99% and all I need to do is send a picture of my list with the insurance details written on it. They are very helpful!
Medical Billing & Collection are professional and efficient in billing and collecting money on your behalf from insurance companies, patients and private companies. These issues are becoming more and more difficult and it is better to benefit from experts dealing with them. MBC decreases constraints on doctors private work leaving doctors to focus on delivering the best possible clinical outcomes. They save a lot of time for secretaries who can liaise better with patients. It is also good to separate the practice of medicine from money collection.
Being a Consultant, efficiency with accounts and billing is not one of my strengths. I employed Medical Billing & Collection many years ago so that they could perform these tasks for me. I benefit by no longer discovering accounts which have become unrecoverable because they had been lost in my briefcase! Nowadays, there is a great advantage in being represented by a group who are experienced in negotiating fees. These negotiations are complex and it's good to have someone else in your corner ensuring that your fees are optimised at all times. This allows me freedom to focus on the medical side of my practice.
The staff at Medical Billing & Collection are extremely efficient and helpful. I was nervous at the prospect of moving this responsibility from my PA to a separate billing company. Now I wish I had done it years ago!
“Medical indemnity is not something you get particularly excited about, and for most of us it is something we think about once a year when it comes to renewal. However with an ever more litigious society it is more important than ever to think about what indemnity you have in place to protect yourself and your reputation. I have been with MBC for a number of years and have found them to be extremely professional and excellent at what they do, so when they launched their medical indemnity product I was curious to see what it would offer. The policy is more comprehensive than the one I had and cheaper. They were extremely helpful. I couldn't recommend them highly enough”
"Starting out in private practice with large overheads and low margins one can see why it is tempting to do as much as possible yourself to save costs. That is after all what I did. As a result, my billing was a mess and I had a lot of bad debt. Since using MBC I have never looked back. They are polite, professional and chase up every penny. I have no bad debt and not only that I can concentrate on what matters, treating patients without getting involved with the messy business of money, a good separation to have when dealing with patients. I couldn't recommend highly enough."
A highly efficient professional billing company which is well-manned with speedy courteous responses.... highly recommended
My colleagues were skeptical that MBC could be better than our efficient secretaries, but they and I were surprised at how much easier our lives were made by outsourcing the billing to MBC - our secretaries had more time and the billing was far more efficient and effective than anyone had expected. We've had no complaints by our patients either so it has worked out very well for all
As an anaesthetist, I have been using MBC for the past year. The amount of time spent on dealing with insurance companies, billing, and chasing bad debts has been improved beyond doubt. I am now free to leave the professionals to competently look after my finances whilst I concentrate on providing clinical services
In a time when doctors are more mobile and independent it is important that each aspect of their practice is micro-managed. With MBC I have a reliable service for fee negotiation and collection which is satisfying for all
Medical Billing and Collection's highly professional team provide me with an impressively efficient service. What's more, their manner of dealing with my patients is exemplary and the level of Bad Debts is negligible
I have been very impressed with MBC's service over the past 2 years. My only suggestion would have been for online access to my billing and now they've done that too!
Medical Billing and Collection has given me a fantastic service since I first joined them two years ago. They recovered £60,000 of bad debt when I joined with very little fuss. The results speak for themselves. I now have no bad debt and have absolute faith in medical billing running the financial side of my practice. Their fees which are tax deductible are excellent values for money and I would recommend anyone that is considering outsourcing their billing to get in touch with Medical Billing and Collection
MBC's phenomenal invoice recovery percentage pays for itself when compared to the cost of bad debts. It also scales very nicely, from polite and gentle reminders up to debt collection for determined non-payers. Better still, MBC frees my secretary to get on with running the clinical side of my practice
Medical Billing and Collection have really proved their worth for the following reasons: My patients are happy with them; they are efficient, friendly and business-like; the separation of billing from the secretarial duties, takes a great deal of stress from the relationship of the secretary and doctor with the patients. MBC have a vast knowledge of the working of the insurance companies which provides them with the ability to optimise the charges to the insurers in a fair and proper manner. MBC also look at your practice and ensure that you are charging correctly through the codes. They have a quietly efficient way of collecting the shortfalls from the patient whilst explaining if it is the insurer (an increasing problem), who has dropped the reimbursable fees, not the doctor who has increased them. Income is thus optimised, without fear of offence to the patient, as they are separate from the practice of medicine
MBC provide a very efficient, friendly and helpful service which allows me to concentrate on the medical aspects of private patient care. Their staff is always helpful and responsive. The company was recommended to me a few years ago and I am so pleased that I made the switch
I have been with Medical Billing for 10 years now and have never regretted the decision! As a result I have recommended numerous colleagues who have been similarly satisfied with the service provided by MBC. I have my own account manager who is always available
- 01494 763 999
- Medical Billing & Collection
Buckinghamshire HP7 9LP
More than Just a Billing Company