Added Interest Revenue Further Improves Doctor Collections; UBS -- Billing Depot Lockbox Improves Reliability and Transparency of Billing


Dr. Michael Lewko, Chief Medical Officer, Care Management at St. Joseph Hospital in New Jersey, has seen his practice revenue grow by 14%. “The introduction of UBS lockbox is just one example of Billing Depot’s professionalism and continuous attention to billing process improvement,” says Dr. Lewko. “The lockbox reduces dependency on a specific billing office, cuts management overhead, and allows us spend more time with our patients.”

“We are delighted to partner with a first-tier investment bank,” says Pat Freeze, President of Billing Depot. “Billing service accuracy and consistent followup are critical for full and timely collections. An automated investment of patient payments in an interest earning Money Market account adds extra cash to physicians and results in a powerful service when combined with record payment performance.”

“The doctor’s money must never be idle,” explains Robert Szigeti, the UBS Vice President 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 Billing Depot. 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. Finally, the doctor receives an added degree of Transparency, which allows personal verification of deposit via secure Internet connection.”

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 Billing Depot:

Billing Depot, Inc. is a national Third Party Billing Service, certified by the New Jersey Department of Banking and Insurance. Headquartered in East Windsor, New Jersey, it guarantees improved profitability and 100% transparency throughout the billing process. The service uniquely leverages comprehensive practice workflow technology, including patient scheduling, SOAP notes, Electronic Medical Records (EMR), electronic claim submission, followup, and 24x7online financial reporting.