Having streamlined the cash flow and accounts administration of 100 medical practices
since inception in 2006, Nexion has entered the healthcare mainstream following its
integration with SA’s major practice management software packages – Health Focus,
Med-e-Mass and GoodX.
A single system for accepting, processing and reconciling all forms of payment, Nexion
has the business-transforming effect of speeding up practice cash flow, increasing
collections, cutting through admin clutter and, ultimately, giving control over earnings
back to doctors.
Nexion MD Peter Melchior says the need for an automated, closed-loop payments
system has become pronounced of late, as doctors grapple with the burdens of an ever
greater need for taking payment at the point of service.
“The number of people that have comprehensive medical coverage is diminishing,” he
says. “And for the ills that they are covered, medical aids put a limit on the fees that may
be claimed, leaving it up to the practitioner to recoup the shortfall. Many patients aren’t
covered at all, leaving an even more pressing need for taking payment at the point of
service.”
Melchior says another problem doctors suffer from concerns the levels of cash “trapped
inside” their accounts receivable, in terms of the cost related to collecting payments, the
time and effort managing and reconciling these payments and the time it takes for
patients to pay. “Practitioners can generate significant savings on the money they spend
on collecting funds in the traditional ways – including employing resource-heavy
accounts admin; chasing and sacrificing interest on delayed payments; writing off bad
debts; and paying punitive bank costs by using Nexion.”
He says Nexion gives practices the tools to be proactive about collecting funds at the
point of service (minimising bad debts and speeding up cash flow); requires no upfront
investment; manages payments at bank-competitive rates; allows practices to get
commitments to pay prior to surgery; saves time spent reconciling and balancing to
bank statements, with no additional spreadsheets and disparate systems; provides
visibility into cash flow; minimises fraud risk by providing one source of receipts; and
provides comprehensive reporting by practice or practitioner.
Health Focus
Gert van Eeden, development director at Health Focus, the second largest practice
management system in the country with a client base of 700 practices, says Nexion’s
integration has been a great enabler for users of the Eminance package.
“For the first time they can manage the entire payment cycle without any manual
processes extraneous to it. This throws a net of compete security and control around a
previously multi-step, disintegrated system,” he says.