Patient collections, a key to your success
When you go to buy groceries or stop in at local stores, you have to pay for your purchases before you walk out the door. Until recently, this has not been the way payment has happened in healthcare. Providers have gotten used to waiting 30, 60, 90 days or more to get paid. Even worse, some practices write off balances as a matter of routine, costing tens of thousands of dollars per year.
For your practice’s financial stability and growth, you will need to modernize and integrate a patient collections plan into the daily workings of your office. This will involve staff training, technology solutions to support your end-to-end collections, and a general increase in communicating with patients about their financial responsibility