Collections

Providing an excellent patient experience can improve the revenue cycle for your healthcare practice.

  Most people assume that asking patients for an outstanding medical bill balance frequently is the key to collecting medical debts. But, the best medical bill collectors know that it isn’t just about the number of times you ask. It’s about what happens when you call or meet with patients who owe a balance. Are…

A healthcare billing compliance program helps prevent costly mistakes. Learn how.

Moving accounts to collections might work for some patients but it is still a last resort step. You want to keep bad debt collections at a minimum. Although there are techniques to help prevent bad debt collections, the idea is the same – collect as much as you can, as early as you can. Receiving…

Implementing an early out strategy is an underused key to timely and efficient collection action, avoiding unnecessary aging of accounts. Below are some recent survey statistics to make you think about the state of collections in the medical practice field: Less than one in 10 of healthcare organizations will recover more than 20% of outstanding…

10 million consumers were in high deductible health plans (HDHPs) in 2010. Less than ten years later, 75 million are enrolled in these plans, a 650% increase. For you, this poses a challenge because patients usually ending up paying more out of their pocket for your services. Deductible Resets Deductible changes challenge patients and providers.…

Ensuring payment is just as important as submitting a clean claim on time. Payments are delayed for many reasons resulting in the need to collect more aggressively. This is key since the collection process itself now demands more follow up labor expended than it did in the past. One would think because of technology advances…

Insured patient costs have increased 256 percent between 2004 and 2014 according to a survey in 2016 by The Henry J. Kaiser Foundation. Assist your patients and team to quickly obtain payment and successfully close accounts while boosting patient satisfaction and overall experience. Know Thy Patient This means to find out everything possible about the…

Some sobering numbers surfaced from a 2016 Black Book Market research survey. They surveyed 2,000 independent physicians and 200 hospital-based physicians. The results suggested that 90% or nine in ten small, independent practices are financially and technically challenged to implement value-driven care for patients. What exactly is value-driven care? This model is driven by delivering…

Sometimes clients want to know if they can pursue money on an account after it’s been placed with a collection agency. Or, if a client can place an account with more than one agency at a time. While the Fair Debt Collection Practices Act (FDCPA) does not directly address these issues, it does say that…