Bonded Business Services, Ltd.

General information

Boulder based company announces new suite of medical billing and insurance follow up services.

CEO Steve Johnson says he is building a world class company, with the best company culture in Boulder.

Boulder, CO. – April 29, 2014 – Bonded Business Services, announced on Tuesday their offering of medical billing and insurance follow up services. The new business line was prompted by the growing demand for back office assistance in medical clinics and rural hospitals.

Bonded Business Services, Inc. was established in the state of Colorado in 1952. Their services include an early out billing program which prevents an account from reaching a delinquent status. Steve quotes a recent study by the Medical Group Management Association; “Between 2008 and 2012, multispecialty practices saw their bad debt go up 14 percent.” Steve remarks, “They are increasingly being asked to act as a financial institution. We have been providing billing and coding services on an as-needed basis for years. We saw an opportunity to innovate and confront industry challenges with an integrated approach to billing and collections bottlenecks.

Bonded Business Services is well positioned to address this growing challenge. The double whammy of the Affordable Care Act and the ICD-10 code transition has contributed an air of urgency for small and medium size clinics to get their financial house in order. The company manages 48 employees and brings over 125 years of collective industry experience to the table. “We are aware of how difficult it can be to manage cash flow when working with so many moving parts,” Steve says. “Our technical infrastructure is well suited to interface with rural hospitals and medical clinics. We are familiar with the processes and procedures that insurance providers are requiring of these clinics in order to be reimbursed. We can integrate with a small billing office and dramatically increase the cash flow that is coming in, both from the insurance provider and the patient.”

“We encourage rural clinics to face these challenges head on”, Steve says. “The transitions that are on the horizon are not going to make this process any easier. Many of our clients don’t have as much experience in their billing office as they need. Staff retention has been an issue in smaller communities. Sometimes they are nervous to engage in billing and collections with friends and neighbors. We have a great pool of talent here in Laramie, supported by the university. We are prepared to support our clients’ financial health with a strong team and some great tools.”

The team is led by Suzan Webb, Vice President of billing and coding. She can be reached at (303) 444-5072 for questions, and to set up a complimentary process review.