What “Receivables” really means...
Receiving payment is the final step for every appointment/session workflow and the lifeblood of any medical practice. However, payment is just one component of a broader term we call Receivables. So, what do we mean when we use the term Receivables?
- Patient Support – Answering patient billing questions
- Receiving Payment – Receiving payment from multiple payment types and from multiple channels
- Accounting – Applying each payment to its respective patient account as well as originating bill or insurance claim.
Properly managing Receivables can be time consuming, sometimes even take more time than the actual appointment. However, skipping steps inevitably lead to costly accounting errors that usually end with an embarrassing conversation or two. IBEX provides the solution.
Apart from manually entering the occasional Cash or personal check transaction, IBEX completely eliminates the issue of Receivables for sole practitioners! Thanks to our Edge Computing architecture, IBEX’s Back Office does all the heavy lifting, allowing the sole practitioner to focus on what matters: patient care.