Many providers struggle with the problems of trying to handle patient-pay billing and collections internally. Sending out statements in a timely fashion can be challenging, especially when it may be difficult to find employees to print and mail your statements. The labor required to adequately hire and train the staff to collect past due balances is expensive. If the money is not collected promptly, providers could end up paying for single-digit recovery at a premium price.
COLLECTPlus uses a four-phase approach to help providers manage their patient-pay accounts receivable. The automated patient communication workflow is customizable to achieve the business’s financial goals balanced with the company’s mission. This communication provides the right message at the right time using the right channel. COLLECTPlus provides communication transparency–every statement, letter, phone call, email and text is accessible through the COLLECTPlus dashboard. COLLECTPlus details the account activity from day one through final collection. Account balances move seamlessly through the phases, with the provider having the ability to hold or write off an account at any point. Digital communication provides immediate notification and patient response.
Phase 1 focuses on producing the initial patient-pay invoice, email, text notification and reminder call. The invoice statement is the first communication sent out by paper, email or both. The ability to provide paperless statements saves providers substantial billing costs. The statement format helps people understand what they need to pay, getting better results from this communication. Providers can customize patient statements with unique messaging. Lastly, we show them where to pay by listing the provider’s website and telephone number to contact them directly. The email and text notifications provide the patient with the link to the patient portal to view their statement and pay their bill.
Phase 2 follows up on unpaid balances with multiple collection statements, reminder calls and text messages. New charges append to the collection statement streamlining communication to the patient. The patient will receive one statement at a time with all their charges listed reflecting their entire account balance. Links to the payment portal make it easy for the patient to pay at their convenience. On day 90, patients will receive a final demand letter. It explains that if payment is not made within ten (10) days, their account may be sent to an attorney, a collection agency or a credit reporting bureau.
Phase 3 starts the first-party pre-collection process, using a collection agency to reach out to your patients to resolve any outstanding issues.
Phase 4, if necessary, encompasses 3rd party collections and credit bureau reporting. All agency services are based domestically.
Accounts are worked for up to 2 ½ years, giving providers the best opportunity to recover their past due balances.
Quality DME was writing off a lot of patient A/R because they did not have a complete Patient-pay Billing and Collection system. Their staff was responsible for printing and mailing statements but did not have time to make collection calls. So, they used the outside collection company. Without an integration with their collection company, it was challenging to track the payments the collection company received.
Quality DME Boosts Collections through Integration
CareLinc improved intake process significantly; reducing Patient-Pay A/R
Gundersen Palmer’s Recovery Performance Exceeds 90%
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