Collection services for hospitals and practices
The evolving world of healthcare has seen an increase in patient accountability for the costs of medical coverage over the past few decades. Collection processes that were adequate don't stand up to the financial impact that High-Deductible Health Plans make on patients. Our collection services alleviate the burden of collections and help hospitals and practices recover monies in arrears.
Once all the accounts-receivable have gone through your internal office processes, you may find you have quite a few outstanding debts.
Sending these to us for ultimate collection can help your facility with proper revenue cycle management — a process critical to your hosptial’s profitability. Here’s how:
1. Streamlined Revenue Production
Because healthcare organizations must perform extra steps in order to collect payments — like filing insurance claims and billing for any expenses that are considered out-of-pocket — RCM can suffer.
A service dedicated to healthcare collections can fast-forward the revenue-generating stage to ensure a positive cash flow and profitability.
2. Emphasis on Efficiency
We have dedicated experience in healthcare collections and understand the techniques that inspire prompt payment. Our proven processes can deployed to help you maintain your cash flow.
This takes the strain off of in-house accounting personnel, who may not have the specialized training necessary to tackle the collection load your practice generates.
3. Different Rules and Regulations Can Mean More Power to Collect
As a debt-collection agency, a third-party medical debt collector is subject to different regulations and rules than your in-house team.