APEX employee Phil Rohs writes for the Wisconsin Medical Credit Association
St. Paul, MN, January 13, 2012 — The December 2011 cover article of The Voice: The Magazine for Accounts Receivable Managers, published by the Wisconsin Medical Credit Association, addresses the question “E-statements and e-payments—Can they reduce accounts receivable?”
This cover article was authored by APEX employee Philip Rohs. Phil works closely with healthcare providers throughout Wisconsin to achieve cost-saving benefits from statement redesign and billing-process technology.
In the article, Phil describes healthcare e-statement costs as approximately half the cost of printing and mailing traditional paper statements. Further, providers can improve cash flow by eliminating the time statements and checks spend in the mail and by faster processing times for payments received online.
He identifies two basic metrics by which the success of an e-statement and e-payment program can always be measured: (1) reduced call volume to a provider’s business office and (2) a lower accounts receivable balance.
Phil writes that cost benefits and increasing patient expectations for administrative ease require providers to think not “if” but “when” to initiate electronic statement and payment options:
“It is not a matter of if e-statements are an option for your organization, but rather when is the best time to implement them. The time and money involved in implementing an e-statement offering is determined by the customization desired and availability of internal resources. Out of the box packages start around $5,000 and take around 12 weeks to implement. … E-statement implementation requires data testing and website syncing that needs attention from your technical staff. The final item to address is how your electronic payments will be set up with your bank.”
For further details on the implementation process, click here to read the full article.
About APEX
APEX is a technology-driven statement processing company that provides innovative statement design, e-statement and e-payment tools, and complete print and mail services for the healthcare and financial industries. APEX services clients across the nation and has a market-dominant position in the Midwest. As a technology leader offering the industry’s most advanced propriety platform, APEX offers flexible and customizable solutions that improve revenue cycle, reduce call center volume, offer targeted marketing opportunities, and improve business process efficiencies. Founded by Brian Kueppers in 1995, APEX has grown to employ over 80 employees and output over 50 million documents annually, with fully redundant production facilities in Minnesota and Wisconsin. It is the mission of APEX is to serve all clients as industry experts; to fully understand the challenges that each client faces, and to deliver tailored solutions that provide measurable results. APEX’s success can be attributed to its team of dedicated employees who work in an environment that promotes a willingness to share new ideas and form close partnerships with clients.
