Collections

Healthcare Collectors Benefit with Left and Right Brain Skills

These days, healthcare providers are catering to more patients, which may be as a result of the significant rise in today’s aging population and or changes in healthcare insurance coverage. With such a tremendous increase in patients needing healthcare services, one would think there will be a corresponding increase in the profits generated by the…

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Early Out from Bad Debt

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…

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Overcoming Objections to Collecting Patient Balances

Your practice or medical organization may be finding itself up against the wall in the face of operational expense increases, decreased reimbursement, and larger patient balances. Consumers can resist collections approaches and it might not be due to a simple unwillingness to pay. It may be tied to emotions and personality types. With this in…

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Collecting Deductible Resets and Patient Payments

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.…

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How to Stay Ahead of Collection Delays

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…

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How Many Opportunities Are Passing You to Collect?

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…

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How to Better Meet Patient Payment Expectations

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…

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How to Prevent Debt Collection Confusion

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…

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