The importance of medical billing and collections cannot be overemphasized in an era where health reforms are changing the face of the health care industry in the United States. With the ever-increasing costs of running a business, the financial aspects of a private medical practice are more important than ever. Nobody understands this better than Kevin Cappel, founder of Ledger Resolutions. After leading a private practice and experiencing the difficulties encountered in billing and collections, Cappel founded Ledger Resolutions to fill a gap in the private practice market and provide outsourced medical billing and collections.
Ledger Resolutions was being led by an experienced founder, yet the company was still having trouble becoming well-known.
Ledger Resolutions wanted to not only become known as a leader in its industry, but to also increase client numbers by at least 10 per year, as well as aid business expansion by opening a second office in Clearwater, FL.
Cappel knew the importance of market research. The solution was to utilize marketing research to:
1) gain a better understanding of potential clients and
2) have a more realistic approach to communications with them.
The added use of business marketing research was to pinpoint what was missing the mark on Ledger Resolution’s promotion and find out why people weren’t responding.
The results of JoTo’s market research report gave Ledger Resolutions the ammunition to market, promote its services and jumpstart its expansion. A surprise advantage, however, has come in the sales area of Ledger Resolutions. The company’s sales process has become much more engaging they now possess the tools to predict the questions of potential clients, as well as their areas of concern.
Through JoTo’s marketing research services, Ledger Resolutions now experiences smoother communication with each prospective client.
“The process [of market research] was really quite painless for us and within a few weeks we had a very thorough document explaining exactly what was discovered from a large sampling of our potential clients. Some of the results were as expected and some were quite enlightening. The surprise advantage of this information, however, has come in the sales area of our organization. I have found that the sales process has become much more engaging as I now feel that I have much greater prediction in knowing what their questions will be, as well as the barriers they will tend to be looking at. When these can be addressed in advance the entire process is abbreviated things seem to go much smoother. My level of confidence when communicating with the prospective client is much higher.”
“We have been very pleased with our relationship to JoTo PR and consider them an asset to our organization.”
– K. Cappel, Founder of Ledger Resolutions
About Kevin Cappel and Ledger Resolutions
Ledger Resolutions was founded by Kevin Cappel, PT with the desire to provide a much needed service based on his years of experience and multiple viewpoints relative to the profession of physical therapy and health care, in general. Kevin managed a large corporately-owned outpatient facility for ten years before venturing out into the world of private practice. During his tenure in private practice he became quite intimate with the area of billing and collections and was able to increase their collection per visit statistic from $82/visit to $104/visit while third party reimbursement rates did not increase. For more information about Ledger Resolutions’ services and how they can help improve your practice’s bottom line, visit www.ledgerresolutions.com.