QUESTIONS TO ASK TO DETERMINE IF IT WILL BENEFIT YOUR EYECARE PRACTICE.
In “The Review of Optometric Business,” Peter J. Cass, OD claims that you could improve the cash flow of your practice by outsourcing your billing. But will it really? In “Improve Cash Flow by Outsourcing Billing and Coding”, Coss offers a series of questions to help you determine whether outsourcing will really help to improve the cash flow at your eyecare practice. Questions include: How long do claims sit in your accounts receivable and what percentage of claims are paid on first submission? What percent of accounts receivable (A/R) is greater than 120 days? What is your write-off per month? When was the last time you audited your A/R?
Read here for more questions to consider when looking at outsourcing to improve your optometry practice’s cash flow.