You may feel it’s insensitive to send patients to debt collections who are delinquent in paying their part of a medical claim. However, there are multiple reasons to outsource your accounts to medical debt collection agencies.
While you may not receive all the money from every account, the sooner medical collection agencies can begin collecting on a statement, the more likely your payment will be successfully recovered. You want to get in front of other creditors who may be in the same position as the patient. Here are some of the reasons to consider outsourcing collections:
Your Business Office has Few Resources for Medical Debt Collection 
Some practices have had to furlough staff to cut expenses, especially amidst the COVID-19 pandemic. Anytime this happens in healthcare, the ARM (Accounts Receivable Management) cycle suffers for that medical provider. The focus should be on the care for the patient and quality customer service. Many times, those that work the revenue cycle pick up other tasks during furloughs. Employees spread too thin can cause a direct impact on your bottom line. The longer an account goes unpaid, the less likely it is to be collected in the future.
Insurance Follow-up is Very Time-Consuming
Technology has helped exponentially in streamlining the process of insurance claim debt recovery follow-up through medical debt collection agencies. However, there is always a need for staff to spend time following up on claims that are not paid by an insurance company in a timely matter. Whether it’s searching for status online or calling Claims Processing to get real-time claim status, it’s essential to make sure someone works on them daily. Collections services specialize in unpaid medical bill follow-ups.
No One is Working on Denials and Appeals Promptly
As every medical provider knows in this industry, claims are continually being denied or short paid. It is imperative for your billing department TO stay on top of these claims. If not, they will become more significant issues and trends, along with being very time consuming to keep on top of. A result can be a substantial reduction in revenue.
With Unemployment on the Rise, Patients Relocate
If contacting patients results in unanswered calls, returned bills, and radio silence, it is time to send the account to a collection agency. Fortunately for you, debt collectors have extensive resources available to track down patients with unpaid bills. People often move or change phone numbers and may not realize you are trying to reach them.
Medical Debt Collection Agencies: Capital Recovery
Capital Recovery Corporation (CRC) is one of the top medical debt collection agencies that will track down patients with unpaid medical debt for you.
While knowing when to outsource your business office functions, or send a past-due account to collection services is sometimes tricky, your return will be much higher if you employ an experienced Extended Business Office/Collection Agency. Take a look at why CRC has had 30 years of success with medical debt collection.
Call CRC today, and we can talk you through the process so you can decide if our services are right for your business.