Cash flow boost and 40% time saved for Pure Sports Medicine
“We can now accurately budget on all expected income from insurers being received in a timely manner” says Nicholas Driessens, Practice Manager at Pure Sports Medicine. Pure Sports Medicine currently has three clinics which are supported by a central finance team. The implementation of Healthcode’s electronic billing system has helped Pure Sports Medicine reduce the amount of time spent on administering invoices and chasing bad debt by 40%.
Nicholas Driessens, Practice Manager say: "Invoices were either printed off and faxed or scanned and emailed directly to the insurance company. When the remittance files came back from the insurers we then entered them into the system manually one by one. Before Healthcode, our Finance team dedicated approximately 45-50 hours a week dealing with sending and reconciling invoices to the health insurers. This will now be reduced to approximately 25-30 hours. One of the key reasons being that invoices are no longer getting lost in the system, and therefore the time we spend chasing insurers has been greatly reduced."
He adds: “One of the most useful benefits for us at ‘Pure’ is the way in which the reconciliation process is now almost fully automated. In a matter of minutes we can now reconcile hundreds of invoices, a process which used to take us many hours. This allows our finance team to focus on other areas of business improvement”.
The main driving force for Pure Sports Medicine to adopt Healthcode as an electronic billing system was to reduce the growing amount of time spent on administering invoices. Nicholas Driessens says: “With this electronic system, the length of the entire process can be minimised – in fact, once the system is fully operational, we will be dedicating less time to invoicing, even though our patient numbers have increased significantly.”
Nicholas Driessens concludes: “I would absolutely recommend Healthcode as an electronic billing solution. The key reason being, the amount of time it will save your clinic. Not every clinic will have a dedicated finance team. Allowing a system to do the majority of the work for you, in a timely efficient manor, with reduced human input, has significant benefits to any business. This saving in time results in a saving in labour costs which quickly add up. If you want an invoicing system that is easy to manage, saves time and costs, then this is what you need.”