3 Reasons a Medical Provider Should Outsource Collections on Medical Bills

Financial responsibility for medical bills is a complex process, but it is also what a medical debt collection agency specializes in. A bill may go through many stages before a patient receives it. Once the bill is received by a patient, it might get tossed aside. There are many reasons a patient won’t pay a medical bill and your company needs to look into someone to handle your collections on medical bills.

While many patients are overwhelmed with medical debt, their delinquent accounts become medical practices’ responsibility and can take a toll on business credit. Dealing with medical collections takes time and effort.

Here are three key reasons your healthcare practice might want to outsource your medical debt collections:

Experience in Healthcare Collections on Medical Bills

Debt collections on medical bills are highly regulated. Outsource collections to ensure that the practice is being handled through appropriate measures. Your office could be penalized for inappropriate debt collections on medical bills practices, which will eat into your bottom line. Debt collectors know how to help patients find the right payment plan while reducing negative feelings. By keeping up with the current rules and regulations, you can rest assured that your patients aren’t being harassed or berated. Hiring a medical collection agency is exactly what your business or organization needs.

Maintain Patient Relationships with Medical Debt Collectors

The patient-doctor relationship is already fragile when a patient is scared, frustrated and in pain. Money issues can complicate any relationship, no matter how courteous and empathetic the office is about collections. Patients often view debt collection services as a personal affront. Medical debt collections can disrupt your care and relationships with your patients. Outsourcing debt collections on medical bills relieves that stress and takes money issues out of the mix.

Maximize Profits with a Medical Debt Collection Agency

Having a system set up to get information about co-pays, deductibles and out-of-pocket costs from your patient before services are rendered will increase your accounts receivables and reduce your medical collections. Your office will increase revenue just by giving patients a clear understanding of what will be owed. Having a reliable medical billing company who follows up on patient payments maximizes your bottom line. Outsourcing medical bills makes sense to your profit margin.

Outsource Debt Collections on Medical Bills Today

When your office has to be a debt collector as well as a patient provider, all while giving quality customer service, it can stress your staff. It’s not only about patient relationships, but about the time spent on statements, following up on bills and collecting payments from overdue accounts. It’s estimated that it can take up to three months or more to receive full patient balances. Why do all of this work yourself?

For more information about revenue cycle management for your healthcare practice, contact Capital Recovery Corporation (CRC), a long-standing medical collection agency. We’re an extended business office that offers medical debt collections, statement service, AR management and much more. Alleviate your staff from having to be the bad guy with our expert healthcare debt collection help. Collection agencies like CRC follow the Fair Debt Collection Practices Act. Take advantage of our skilled team of debt collectors now.