According to the Kaiser Family Foundation, 26 percent of Americans participating in the survey reported they, or someone in their household, had trouble paying their medical bills in 2015. With a quarter of US adults struggling to pay their bills, how can you increase your odds of getting paid? The key to maximizing your cash recoveries is to secure payment information up front.
Other best practices that help drive faster recovery and a high rate of return include:
Generating several touches in a friendly and respectful way helps you keep your patients and collect more cash faster.
Quality DME was writing off a lot of patient A/R because they did not have complete Patient Pay Billing and Collection system. Their staff was responsible for printing and mailing statements but did not have time to make collection calls. So, they used the outside collection company. Without an integration with their collection company, it was challenging to track the payments the collection company received.
Quality DME Boosts Collections through Integration
CareLinc improved intake process significantly reduces Patient Pay A/R
Upstate HomeCare’s Automation or Patient A/T Yields 80%
Gundersen Palmer’s Recovery Performance Exceeds 90%
Keene Medical Products
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