One of the biggest challenges facing healthcare providers today is revenue management, such as with medical collections and debt recovery. Although the ACA certainly helps many providers, the industry is still plagued with patients who cannot make payments. Every healthcare organization, big or small, should work with third-party debt collectors for medical bills.
Be aware of these bad debt trends to find solutions:
- Uninsured patients or those with a high insurance company deductible contribute to the patient billing challenges faced by hospitals.
- Over half of Americans have received a medical bill that they could not pay due to credit card debt, poor personal finance, or other debt.
- Almost one-quarter of Americans could not cover unexpected medical bills of $2,000. One-third of Americans would have to go into debt to pay a medical bill of more than $100.
- Claim denials also contribute to revenue lost by hospitals. Managing insurance claims more effectively can reduce patient billing challenges.
- Physicians and hospitals are finding solutions to bad debt by using pre-payment strategies and offering no-interest loans.
- Many hospitals simply write-off revenue lost to lack of payment, but write-offs can be reversed.
- Using technology and processes at intake can help healthcare providers ensure minimal data loss by proactively managing insurance benefits and hidden coverage.
Debt Collectors for Medical Bills
Capital Recovery Corporation (CRC) are top-tier debt collectors for medical bills. They are the leaders in medical billing debt solutions and accounts receivable management. The healthcare industry is changing, not only due to the technologies available for patient care, but to a more consumer-oriented market. Adapting to these changes can be challenging and take time, but when your office focuses on patient care and account follow up your revenue cycle benefits.
The hurdles your practice faces in today’s healthcare marketplace don’t mean that you have to give up high-quality services or focus on collections. What it does mean is that you have to streamline your process with a customized revenue cycle management system. CRC presents our services as an extended business office to your current patients, which lets us work with you to resolve account issues without destroying patient relationships. Plus, your office will get customized help with credit reporting.
Your practice is built on customer service. Our dedicated debt collectors for medical bills deal with the financial challenges your office faces. We focus on your goals and needs, not only on the medical patient balance.
Medical Collection Agency Near Me
Improve your healthcare revenue with a medical debt collection agency and extended business office that features healthcare debt collection services, specialist recovery counselors, third party billing solutions and more. At CRC, there really is nothing about healthcare debt management we can’t do. We work with your billing department and office to mirror your processes and implement best practices in healthcare revenue collections.
Click here to learn about CRC’s mission and what makes us special.
Contact our office to see how we can customize our skills to enhance your office’s AR services.