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Based on
a survey by Chiro Economics in May 2008, the average practice performs 149 patient visits per week, bills $59,500 per month,
but only collects $42,245 of what has been billed. That's almost 30% in lost collections!
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With PayDC, the average practice can realize:
Increased and improved Collections and Billing Accuracy
When patients know what their financial responsibility is, and what insurance (if applicable) will or won't pay, they're more likely to
start care, and then pay promptly. PayDC enables flexible, affordable, and easily understandable payment plans so your collections increase
and billing is more accurate.
Increased Patient Conversions
What good is your practice if you can't get new patients to agree for care?
Before a prospect agrees to begin care - they need to clearly and easily understand what their course of care will be and what it will cost them, regardless of how complex the treatment plan or payment arrangements.
PayDC integrates and automates several mission-critical programs - resulting in a comprehensive yet easy to understand Care Summary that includes payment arrangements.
With PayDC, you can quickly and professionally create and present an extremely detailed care summary that takes all the questions and "selling" out of
your conversion process.
Monthly savings on Merchant Processing Fees
Most practices' credit-card processing fees are much higher than they should be. Are you paying too much? PayDC has integrated Credit Card Processing at one of
the lowest rates available in the nation, so not only will you save time customizing and scheduling payments for patients, you'll save on the tangible bottom-line
with reduced Merchant Processing.
Depending on the size of your practice, your bottom-line savings could be anywhere between $20, to $80, to $150, or even more per month! We'll even give your practice a free analysis of
what you could be saving before you subscribe!
Reduced recoupment when audited
Through Recovery Audits, it is estimated that Medicare will recoup over $18 billion dollars this year – averaging over $22,000 per physician.
Practically every area of PayDC's Care Planner is pre-loaded and designed for compliance, so while improving your collections and patient conversions,
you've improved the compliance of your practice at the same time. In some cases, practices with non-compliant care plans could have avoided as much as $60,000
in recoupment. You work hard to get paid for your services, don't let non-compliant care plans force you to give it back!
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