Are your accounts receivables becoming unmanageable? It’s not a difficult problem to run into. In fact, many medical practices struggle to keep account collections in a smooth working order because account collections span from the very first patient visit until their bill is paid in full. This is usually an ongoing process that can take months to complete. The key to keeping your practice’s account collections in order is constant monitoring.
Monitoring the accounts will be difficult if you haven’t gathered the right financial data on your clients. How will your billing department do its job when this data is insufficient? Also, should the account go to collections, your lack of sufficient financial data will come back to haunt you again.
Most practices are really good about getting their patient information completed when the patient is a first-timer in the office. However, patient information changes, which means you have to ask with each visit if the information has changed. Failing to do so could leave you with an old address and/or telephone number that proves useless when it comes time to collect on services rendered. Your job is to look after the health of your patient, which means you have to empower your staff in the front to take the necessary measures to get the financial data right.
Some patients will continue to seek treatment or come in for office visits with an overdue account. Not everyone knows how to deal with a patient like this. You should provide your staff the necessary training to deal with these patients and get them to work toward settling their accounts before further treatment is offered.
One way to bypass these potentially embarrassing occurrences is to remind the patient the day before their next appointment that payment will be expected when they arrive for their visit. The staff members should also be prepared to ask for payment when the patient arrives. With a team effort, you can decide exactly what will be expected of your office staff and how they should be dealing with patients regarding their late accounts.
For some practices, this ongoing effort to collect data and payment is just too overwhelming. In these cases, partnering with a third-party account collections agency is appropriate. Even without this amount of bottlenecking, it can be in your best interest to partner with an account collection professional to help you with billing and keeping everything running smoothly. With professionals on your side, misinformation becomes less of an issue as they have the technology and training to get in touch with long-lost patients and get them to pay on their late accounts.
Omega-RMS, llc., has many years of experience in helping medical practitioners handle their accounts. When you partner with Omega, your patients will be treated with respect and professionalism, just as you treat them in the exam room.