Medical Billing Collection Services - Maximize Your Collection Rates

In an ideal world, all medical billing collection would be prompt and paid in full. Patients would pay their co-pays at the window upon completion of their appointment, and balances would be paid in a timely manner by both insurance company and patient alike.

Some practitioners are naturally hesitant to turn their patient accounts over to a medical billing collection company. After all, the relationships formed with patients are at the heart of the practice, and damaging those relationships with hardball collections tactics is detrimental to all parties involved. A delicate balance, however, can be achieved with the right medical billing collections practices.

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First, and most obvious, look for reputable and experienced medical acceptance companies, not general industry collection agencies.

Consider, for example, if your specialty is psychology. Many psych patients are dealing with issues that impact their emotional well being, some to the extent where the added stress of collections could be detrimental to their health. A general industry collections agent probably does not have experience dealing both firmly but sensitively with psych patients; using strong-arm collections tactics could have serious consequences on a patient whom, for example, you just kept from committing suicide a few months ago. A collections agent who has experience in this field does, however, and will not only work to collect past due bills, but will do so in a manner which is sensitive to the situation of the patient.

Similarly, a collections agency that specializes in chasing down deadbeat Dads who don't pay their child support are probably not a good match for dealing sensitively with your patient who is recovering from heart surgery. Choosing credit collection services with specific experience in the medical field will both maximize results and benefit your patients.

Be skeptical of Flat Fee Collections. While the flat fee collections approach is often cheaper initially, you have to wonder how motivated the medical collection agencies are goingto be to collect your money when they have already been paid theirs upfront. Most collection agencies work on a percentage basis and do not get paid unless you get paid, unless you have chosen an "early out " program. ("Early Out" refers to outsourcing your unpaid claims at an earlier time than the more familiar AR Recovery Program, which is usually after 120 days.)

Other Considerations:

The good news is that after a great deal of research we have finally found a company that actually does specialize in the medical field, and can help you solve your collection needs. Choose the appropriate link below:

Medical Practitioners: Discover how Medical Practices can achieve a good balance, collecting on their past due accounts while being sensitive to their patients' needs. Click here for more information.

Hospitals and Clinics: Hospitals and Clinics have unique challenges. Find out how these facilities can maximize Medical Bill Collection. For additional information click here.

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