Centralized Billing Office (CBO)
Today’s environment of declining, slower reimbursement coupled with increased regulatory oversight and higher expenses are forcing corporate and groups to rethink and realign the back end management aspect of their business.
For multisite group practices, one solution to streamline billing and enhance collections is the creation of a central billing office (CBO).
Key Benefits of a CBO:
- Improved focus on core business activities – a CBO free up your business to focus on its strengths, allowing your staff to concentrate on their main tasks and on the future strategy.
- Increased efficiency & productivity – with a CBO in place, standardization of the process flow for multiple locations is possible along with stringent monitoring thus resulting in higher efficiency and productivity.
- Higher Collections – With the improvement in the quality standards being achievable due to centralization, CBO‟s generally generate better collection results for larger clients.
- Controlled costs – cost-savings achieved by a CBO can help you release capital for investment in other areas of your business.
- Increased reach – a CBO can give you access to capabilities and facilities otherwise not accessible or affordable.
- Greater competitive advantage – a CBO can help you leverage knowledge and skills along with your complete supply chain solution which can be scaled at any given time.