Does My Practice Need A Medical Collections Service?4
Due to the recent economic recession, many people find themselves struggling to pay their bills. As a practice manager, you may be all too familiar with this struggle. Is the amount received each month much less than what was billed? Is your practice struggling to pay its bills as the result of patients struggling with theirs? If this is the case, then a medical collections service is good solution for you.
Are late payments negatively affecting your practice?
If late or lack of insurance and patient payments are affecting the way your practice operates, perhaps you could use a bit of outside help. Medical collections services oversee the prompt collection of past due claims and statements so doctors’ offices can maintain afloat. A collections service carefully performs all the tasks in a revenue cycle, ensuring you receive the full amounts owed and your practice can confidently continue treating patients.
Does your office staff have a heavier workload than they can handle?
With office downsizing, running a doctor’s office can be an arduous task. With less manpower, the remaining staff gets thinly spread out, leaving less time to attend to collections than what your practice needs. Implementing a medical collections service guarantees accounts receivable staff trained in HIPAA and FDCPA. Collections staff devote their time to insurance resolution in case of claims denial, following up with patients during hours where your staff wouldn’t normally be available and finding workable payment plan solutions.