Providers may choose to send unpaid balances to a collection agency. According to debt.org, about 137 million Americans currently have medical debt; with 28% of those owing $10,000 or more. (Source: Debt.com)
When an account is turned over to an attorney, several crucial steps are taken to ensure effective handling:
Attorneys initiate a detailed evaluation of the patient’s file to ensure all necessary documentation, including contracts, invoices, patient contact, and payment information is included.
Attorneys conduct a thorough scrub to identify any red flags or notifications on the patient’s account, warranting preferential handling. Factors such as bankruptcy, death, or military services are carefully assessed.
Attorneys utilize multiple skip-tracking platforms to verify or collect essential patient information. Details like:
The most common services provided by attorneys are sending demand letters and making collection telephone calls. The initial demand letter notifies the patient that their account has been assigned to an attorney for collections.
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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