The two common methods of billing are monthly billing and what other type?

The two common methods of billing include monthly billing and cycle billing. Cycle billing is a method where billing occurs in cycles, rather than all at once, which allows for better cash flow management and flexibility for both the provider and the patient. In cycle billing, accounts are divided into different groups, and each group is billed at different times throughout the month. This approach can help to spread out payment dates and accommodate clients who may have varying cash flow.

This method is particularly beneficial in medical settings where patients might be receiving ongoing treatments or services. By using cycle billing, healthcare providers can manage their accounts receivable more effectively, ensuring that they have a consistent flow of income.

The other billing options, like quarterly or annual billing, while utilized in certain contexts, do not align as closely with the cycle billing method that is commonly used in conjunction with monthly billing practices. This creates a clearer understanding of patient payment plans and ongoing service balances.