Frequently Asked Questions

What are your fees?

We charge a flat percentage fee on received monies, for the full billing, collection and reconciliation service.

Are there any hidden charges?

The only other costs involved are an annual software licence fee from Healthcode (medical billing software) and a minimum monthly fee charged by MediAccounts (this is an inclusive fee and not an additional charge).

Is there a set up fee?

There is no additional set up fee and all the changeover with the insurance companies is done as part of the service.

My secretary uses DGL. How will that work with Healthcode?

Around 80% of our secretaries work with DGL. Your secretary can simply pull a clinic list with demographic details and upload this to the MediAccounts Portal.

Why do you collect money into a client account?

In order to look after private practice accounts effectively, you need to reconcile every invoice down to the last penny. Even though managing cash books and bank accounts is a very involved process, we feel that it is the only way to do the job fully. MediAccounts can make sure every invoice is paid, reconcile this on your cash book and make sure the consultant is being paid for every patient they see.

Is my client account protected?

All client accounts are with Natwest Bank and are fully protected.
https://www.business.natwest.com/business/business-banking/business-savings-and-deposits/clients-monies-service.html

What if you can’t get payment of an invoice?

We are very proud of our 97.7% recovery rate which means our consultants have impeccable cash flow and virtually no bad debt. However, if our experienced credit control team have exhausted all avenues with chasing a payment, then we work with a local debt collection agency. We manage the whole process and their recovery rate is very impressive.  This process will incur additional charges.

I don’t want the hassle of changing my billing company but I am unhappy with my cash flow – is changing easy?

Changing to MediAccounts is easy and hassle free because we do it all for you!  You just need to complete a small registration form, and sign the MediAccounts agreement and client account bank forms.  Once this is complete we will give you a start date and our team will get everything set up for you. Martine Reuben, Consultant Liaison and Co Business Owner will be on hand to assist you personally during this process.

What are the benefits of using a MediAccounts rather than my secretary?

All the secretaries we work with find that the chasing and reconciling required to do the billing is very time-consuming. Your secretary has built up a relationship with your patients and it can be embarrassing and awkward chasing them for payment. Billing is also a very involved process which requires a number of elements to work together. As a team, we are able to coordinate this very effectively while your secretary can concentrate on running the practice.  We work together with your secretary to ensure your practice runs as smoothly and efficiently as possible.  All you and/or your secretary needs to do, is upload the clinic details to the Portal, and we will do the rest.

Do you do outstanding invoice recovery?

MediAccounts can chase any outstanding invoices from before you joined MediAccounts. However this is an additional service and not a stand-alone service. We will recover or reconcile these outstanding invoices, but only for our ongoing billing consultants.

How do I submit billing to you?

All billing is uploaded to our bespoke portal.  This is overseen by Tracey Dunn, Operation Director.  All billing is checked, tracked, logged and priced, before being passed to our billing team to invoice.

Do you have any safety net processes in place to help me if I forget to send a clinic?

One of our unique selling points is the work that we do behind the scenes to make sure your billing runs smoothly. This includes multiple safety net procedures which will flag up any missing clinics at each stage of the billing process. Our bespoke portal also has a billing checklist function, which highlights any missing regular clinics.

With the new GDPR laws, I am concerned about the security of my data. What security measures do you take?

All patient information you send is uploaded to our two factor secure portal, with end to end encryption. All data that we hold can ONLY be accessed via dual authentication password protected systems. All our backups are securely encrypted.  For a copy of our GDPR manual, please contact Martine Reuben on 02036370038

Will my patients receive an invoice in my name or from MediAccounts?

Because we act as your personal accounts team, the invoices are all in the name of the consultant.

What key features set you aside from the competition?

• We invoice, chase and collect the funds into a NAT WEST client account, which is full protected (set up for each consultant individually with their own personal account number) and keep a running cash book of all deposits with an itemised inventory to match the account activity.
• At the beginning of each month (for the previous month) all funds are transferred to the consultant together with full reports and breakdown.
• All reports are uploaded to the portal so you can have them to hand and stored in a secure environment.
• You have access to our team who bring a wealth of knowledge and contacts – specifically with insurance companies, uplifts and coding.
• We have an insurance specialist who deals with insurance coding, pricing and will organise all the paperwork for insurance uplifts.
• We have account managers within all the major insurance companies who can assist us with any payment queries.
• We have a team of credit controllers who politely check patients have received their invoice and chase for payment.
• We offer the ability for patients to pay over the phone OR via the website and we can also take urgent pre payments and out of office hours payments.
• We work closely with the secretaries to make sure all clinic lists are billed and assist with all billing enquiries.
• We use a safety net flag system to highlight any missing clinic lists, ensuring that no invoice is ever missed, so that you get paid for EVERY patient you see.
• We have a user friendly, end to end encrypted portal where consultants and/or secretaries can upload clinic details and track the progress of their submissions.
• Our portal provides you with an interactive diary called ‘The Billing Checklist’, which highlights which clinic dates have been submitted and those that have not – ensuring no clinic is ever missed.
• Our Portal offers you the option of adding your accountant as a ‘reports only’ user, so they can access monthly reports for your tax return.
• You can what’s app or text us as any time, making it quick and easy for you to communicate with us day and night.
• You have the ability to request URGENT payments via the portal, which are collected immediately.