Medical Billing Collections:
Better Solutions in Recovering Unpaid Debts

Medical billing collections has become increasingly necessary to physicians and other health care providers in today's economy. Over 47 million Americans have no health care insurance coverage. And many others are under insured.

Couple that with a slow economy brought on by the housing market, the subprime mortgage fallout, along with rising unemployment, more and more consumers are financially strapped. Medical practitioners, hospitals and clinics are feeling this squeeze as well.

As people continue to get sick, but are unable to pay the costs of medications, hospitalization, as well as preventive health care, many health care providers are seeking the help of outside collection agencies.

Third party collection agencies are often the solution to recovering outstanding debts, and slow paying accounts from both patients, as well as health insurance companies, who delay payment because of misfiled claims, or other paperwork delays. Medical billing collections companies are more effective and efficient because they specialize in these areas.

Some advantages to using a third party collection agency include:

• Save money by reducing internal staffing. Many physician's offices are simply understaffed to handle the amount of time it takes to call and be on hold with insurance companies to inquire about unpaid claims.

  That in addition to all the slow pay patient accounts not covered by their medical coverage.

• Outsourcing this function to trained professionals saves time, money, and reduces stress.

• Physicians and other health care providers can keep good client relationships intact. Outsourcing your collections functions allows the doctor to be seen as the family friend, not the bill collector.

• Third party collection agencies are well trained and qualified to handle delicate billing matters in a diplomatic manner that doesn't offend longtime patient relationships.

Other Considerations

• Experience and knowledge- It is very important that the collection agency has the knowledge base, and the experience working specifically with the medical community. Debt collection agencies typically recover money for a wide variety of businesses and markets. In addition to having a successful track record working in the medical market, they need to have a keen understanding of the different specialties within the broad medical field.

• Great customer relations- Because doctors, medical clinics, and hospitals are community service providers, maintaining positive patient relationships is paramount. Few things are more damaging to a medical practitioner's reputation, than working with a collection agency whose tactics are abusive, disrepectful or harassing. Partner only with firms with a solid positive history in this area. A little research here is vital.

• Client control- With so many technological advances, its important to consider agencies that offer the latest in online access tools. You should have the ability to access your reports, collections activity, and billing 24/7. You need to be able to monitor your accounts in real time, giving you a greater sense of control. Without these necessary tools, you're in the dark concerning one of your most important assets, your outstanding accounts receivable. You also have to real way of measuring the success or failure of the collection agency.

  What debt collection practices have you implemented to deal with medical billing collections? Read what other business owners have said. Learn some of the strategies they've implemented to improve their recovery successes. Other owners have commented on challenges and problems they're experiencing. Leave your comments, suggesting what's working for you, or the issues you're facing.

  If you'd like a medical billing collections quote, fill out the brief form below. One of our consultants will contact you shortly.

  Collection Agency Quote Request Please note that all fields followed by an asterisk must be filled in. Company* Company* Your name, and position* Your name, and position* E-mail Address* E-mail Address* Web Site URL Street Address* Street Address* City* City* State/Prov* State/Prov* Business Phone* Business Phone* Best time to contact ---Select---\n8a-11a 11a-2p 2p-5p What services are you interested in?* What services are you interested in?* Bank/Credit Union Collections Commercial Collections Consumer Collections Medical Collections NSF Check Collections Debt Portfolio Scoring Analysis Total dollar amount of accounts?* Total dollar amount of accounts?* ---Select---\nless than $5,000 $5000-$20,000 $20,000-$50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$500,000 $500,000-$1,000,000 $1,000,000-$2.5 Million $2.5 Million-$5 Million Over $5 Million How often do you need these services? ---Select---\nOne time only 2 to 5 times yearly 6 or more times yearly Not sure! Additional or Standalone Services Credit Reporting Services to 3 Bureaus Consumer/Commercial Credit Check Services Debt Portfolio Scoring Analysis Skip Tracing Services Electronic Check Deposit (eliminate bank trips to deposit checks) Check Guarantee Services (never get burned with another NSF check) e-Merchant Terminal (accept credit/debit cards online, and remotely with any cell phone) Lower your Visa/MC/Debit Card processing fees.....Guaranteed! Additional notes Please enter the word that you see below.

  
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