Waterford Medical Billing has traditionally
specialized in providing services for the following physician
The Physician who has had trouble staffing with
qualified, experienced professionals:
This practice may be in a tight labor market or may have
a turnover rate that has diluted the pool of expertise.
Waterford Medical Billing has a very low employee turnover
rate. Most of our employees have been with the company more
than 5 years. With Waterford, you enjoy the luxury of having
a team of professionals that has many years of direct medical
billing experience. We process a high volume of claims each
year, so we seldom encounter a claim issue that we haven't
already successfully resolved.
Additionally, recruiting, hiring, training, covering for
vacations and sick days, paying employee salaries, evaluations,
benefits and taxes, and dealing with employee-related issues
are assumed by Waterford - giving the doctor time to concentrate
on patient care.
The Physician who has had employees embezzle money
and doesn't trust anyone to handle finances:
This practice has financially and emotionally suffered at
the hands of an employee who betrayed the doctor's trust.
Waterford Medical Billing employs strict audit controls
to ensure that all charges and payments are captured.
The Physician whose collection ratio is below industry
This practice's staff is often overworked, unorganized or
inexperienced. Often, in a busy practice, the staff is called
upon to do tasks necessary to run the day-to-day operations.
Follow-up may be put on the back burner. They may have discovered
that it is easier and faster to simply write-off rejected
claims and to accept downwardly adjusted payments. Or it
might be that they just don't understand how to read EOBs
or monitor their fee schedule.
Unlike your staff - who are paid regardless of how much
money the practice generates - if you don't get paid, we
don't get paid. It is to our mutual benefit to quickly collect
the full, appropriate compensation for services rendered.
The Physician who has an outdated computer system
(or one that is not all that it was promised to be) and
doesn't want to invest in a new one:
This practice benefits from electronic claim filing and
edits, rapid reimbursement, and comprehensive reports -
all without investing in the high cost of owning, updating
and maintaining state-of-the-art medical billing hardware
The Physician who opens a new practice:
As the practice ramps up, it receives the benefit of an
experienced professional billing service at a part-time
rate. Since fees are based on the amount collected, you
only pay for the amount of service you use.
The Physician who has a high-dollar, aged A/R:
This practice has been unable to work accounts for a variety
of reasons. The practice profits by allowing their staff
to focus on cleaning up the old A/R, while Waterford Medical
Billing keeps the new charges current. This immediately
increases the practice's cash flow.
Hospital-owned physician practices:
The hospital has the advantage of central billing without
the high cost of running an in-house operation. Additionally,
unlike hospital staff, Waterford Medical Billing has a built-in
incentive to quickly collect the full, appropriate compensation
for services rendered.