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Doctors Add Interest Revenue to Improved Collections
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UBS-Affinity Billing Lockbox Expedites and Improves Reliability
of Medical Billing
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Doctors improve their revenue by using Automatic Sweep
functionality of UBS lockbox now available to Affinity Billing
clients. Such automated investment of patient payments in
an interest earning Money Market account adds extra cash
to physician and results in a powerful service when combined
with record payment performance.
Marlboro, NJ (PRWEB) December 13, 2005 –- Doctors improve
their revenue by using Automatic Sweep functionality of UBS
lockbox now available to Affinity
Billing clients. Such automated investment of patient
payments in an interest earning Money Market account adds
extra cash to physician and results in a powerful service
when combined with record payment performance.
 “The doctor’s money must never be idle,” says
Erez Lirov, COO of Affinity
Billing. “Our clients experience the lowest Accounts
Receivable (A/R) beyond 120 days (below 5%), which represents
a three-fold improvement over the national median (17.7%),
as reported by Medical Group Management Association. This
new service reflects Affinity’s commitment to maximize
practice profitability and financial control.”
“UBS lockbox offers multiple benefits,” explains
Robert Szigeti, the UBS Vice President of investments in
charge of Personal Wealth Management. “First, the doctor
receives improved accountability and reliability with bi-directional
verification of check deposit between the bank and Affinity
Billing. No lost checks. Next, physicians see higher
processing speed and added interest revenue with check deposit
upon arrival in a Money Market account earning interest.
The doctor also enjoys added degree of Transparency, which
allows personal deposit 24 x7 verification via secure Internet
connection.”
Dr. Michael Lewko, Chief Medical Officer, Care Management,
at St. Joseph Hospital in Cliffton, New Jersey, agrees “Billing
service accuracy and dependability has improved because of
highly skillful check processing team and reliable technology.
I also receive personal attention by professional bankers
in a state-of-the-art wealth management service. This additional
service exemplifies Affinity’s methodology, which uniquely
addresses all billing aspects and helps us grow profitability,
reduce management overhead, and spend more time with our
patients.”
About UBS:
UBS AG is a leading global financial services firm with over
68,000 employees worldwide, serving a diverse client base
that includes affluent individuals, corporations, institutions,
and governments. From investment banking to asset management
services, UBS Financial Advisors command a broad array of
financial resources to help clients accumulate, preserve
and transfer their wealth. UBS practices an all-encompassing
approach to investment and financial life – taking
into account both assets and liability needs.
About Affinity
Billing:
Affinity Billing is a Certified Third Party Billing Service
by New Jersey Department of Banking and Insurance. Headquartered
in Marlboro, New Jersey, Affinity Billing consolidates billing
services, tracks payer performance from a single point of
control, shares Medicare compliance rules globally, and creates
massive economies of scale. It guarantees improved practice
profitability and 100% transparency throughout the billing
process. The service leverages comprehensive practice workflow technology,
including patient scheduling, SOAP notes, Electronic Medical
Records (EHR), and billing.
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ABOUT AFFINITY BILLING
Affinity Billing, Inc. is a national Third Party Billing Service,
Certified by New Jersey Department of Banking and Insurance.
Headquartered in Marlboro, New Jersey, Affinity Billing consolidates
billing services, tracks payer performance from a single point
of control, shares Medicare compliance rules globally, and
creates massive economies of scale. It guarantees improved
practice profitability and 100% transparency throughout the
billing process. The service leverages comprehensive practice
workflow technology, including patient scheduling, SOAP notes,
Electronic Medical Records (EHR), and billing.
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