Medical practices are suffering financially in the coronavirus pandemic. They have lost income and have to bear additional costs at the same time. Pre-financing helps them withstand any financial difficulties.
The consequences of the coronavirus pandemic are on everyone’s lips: financial losses and business closures. Most of these businesses are shops, restaurants or event companies. In the health sector, the main issue discussed was the constant overburdening of the system, and rightly so. However, there’s also another side to the story: “As a result of the pandemic, service providers were unable to treat other patients. For doctors, this means a significant drop in revenue. However, costs remain the same – or even increase,” says David Pravato, curaBILL Product Manager at Swisscom Health.
Additional costs and loss of income
In order to protect all patients and staff from infection, various protective measures had to be taken in medical practices. According to calculations by FMH and the Ärztekasse association, these protective measures have resulted in additional costs of CHF 735 million for the medical profession as a whole. At the same time, the loss of revenue leads to a loss of income. During the six-week lockdown in spring 2020, these losses amounted to CHF 117 million. The forecasts for 2021 are no better. “This year’s loss of revenue will result in a 20% loss of income in medical practices and outpatient centres,” writes the Ärztezeitung journal. “It is therefore all the more important for the practices and outpatient centres concerned that invoices are paid as early as possible,” says Pravato. “This is why our product curaBILL offers the option of pre-financing.”
With pre-financing, Swisscom Health pays the service providers the money owed to them before patients do. “This payment can take place immediately, within 10 days or within 30 days,” says Pravato. “This helps service providers remain liquid without additional bank loans.”
curaBILL allows receivables information from any practice information system to be transmitted to Swisscom Health. From this point on, Swisscom Health takes care of everything.
Last year, Swisscom Health improved the product still further: the newly introduced flat rate enables cost transparency and provides security and predictability. And the new curaBILL portal gives users a quick overview of all their accounts receivable at all times, making invoicing, collection and reminder procedures even faster and more efficient.
Would you like to find out more? Then get in touch with us or arrange a non-binding consultation. More information can be found on the Swisscom Health website.
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