Patient Collections: How To Get Paid Without Worrying

patient collections

Medical practices are not immune to patient collections or patient financial responsibility. They have a higher collection rate than any other type of practice because they offer more services and treatments that patients may not be able to pay for upfront.

This blog post will talk about the patient collections process, how it can make or break your medical business, patient financial responsibility, and what Practice with Ease can do for you.

Medical Bills and Patient Balances

Medical bills are an unavoidable part of running a medical practice. It can be a thorn in the side of healthcare providers. Not only does it contend with the administrative and financial challenges of running a practice, but they also have to worry about how to collect payments from patients. This is also one of the reasons many physicians get out of medicine and into something else because they can’t stand dealing with patient collections anymore. After all, it’s not easy to know what you need to do when faced with collecting money from patients who don’t have any or enough money for their services rendered. It seems like there’s no way out! But there is – if you use patient collection strategies that effectively get paid up quickly.

Fortunately, practices can use several successful patient collection strategies to help them get paid. These strategies include sending statements, follow-up calls, and using collection agencies. However, before implementing these patient collection strategies, practices need to understand their patients’ financial responsibilities. Patients may be responsible for co-pays, deductibles, and other out-of-pocket expenses. And if they don’t pay their balances promptly, they may be subject to late fees or interest charges.

Further, providers need to know that they’re not alone in this process. Several companies, like Practice with Ease, can help them with patient collections. Practice with Ease offers many services to help practices get paid, including online bill pay, payment plans, and direct debit.

Patient Payment Responsibility

No one likes to talk about money, but you can’t afford not to as a healthcare provider. When patients are admitted into your facility, they must understand their financial responsibilities and be given an opportunity to meet them. The patient’s payment responsibility is the total amount of money due from the patient for services rendered. You need to know these requirements to plan accordingly and offer treatment options per each patient’s ability to pay or insurance coverage benefits. 

Patient Collections Can Make or Break Your Medical Business

Patient collections can be time-consuming for medical practices. You never know what new medical ACA regulations may come next. Patient collectibles are always a good thing to have under control and not something that ‘we’re working on’ or ‘should get done in the future.

Practice with Ease specializes in finding solutions and want to partner with you to solve your collection challenges. We understand the challenges physicians, hospitals, medical billing companies, medical collection agencies, imaging centers, home healthcare providers, and hospice agencies face. Partnering with us means partnering with one of our expert patient collections staff in revenue cycle management solutions.

If you want money collected, now is the time to partner with a medical payments collector you can trust!

What Practice With Ease Can Do for You

Recover Patient Balances Quickly and Efficiently 

It’s no secret that the medical industry is struggling. Patient balance recovery has become increasingly complex, and many providers are finding themselves in debt. Not being able to collect payments can be a serious financial blow to your business. You may struggle to make ends meet, and you could even face federal penalties if you don’t follow the rules.

Practice with Ease can help! We work with doctors, hospitals, medical clinics, diagnostic centers, laboratories, and medical supply companies to quickly recover accounts receivable. Our patient collections staff are experts in medical collection protocol standards and understand the HIPAA Privacy Rule related to collecting this type of information.

Help Medical Providers and Patients

The medical providers we work with are committed to helping patients, and their families receive the medical attention they need. We understand medical billing procedures, how hospitals collect money from insurance companies, medical practices collect money from patients, how medical offices and clinics collect co-pays before releasing services, and much more.

We treat our clients like family, not numbers on a balance sheet – because at the end of the day if medical providers collect their debts faster and easier, more people will pay them on time, which means you will be able to take care of more patients.

Provide Patient Collection Services

In addition to dealing with medical debt, medical billing companies, and medical collection agencies, we provide medical debt collections services to various clients. This includes medical providers, offices, billing companies, and more. We can help collect medical debt for doctors, surgical centers, clinics, diagnostic centers, hospitals, medical supply companies, imaging centers, home care companies, hospice companies, oncology providers, etc.

We help you find solutions – even if your institution is experiencing financial difficulty or has limited resources today. If you want money collected, we can help.

Improve Medical Debt Collection Processes

We understand that the medical industry is constantly changing, and we stay up-to-date on the latest developments. This means that we can help you develop new policies and procedures to ensure you’re always in compliance. In many cases, we can help you improve your medical debt collection processes so that you can get paid more quickly and avoid penalties.

Customize Patient Collection Methods & Solutions

We also understand that every medical practice is different, so we tailor our services to fit your specific needs. Whether you need help with patient collections, billing or both, we can create a custom solution. And, because we’re a full-service medical billing company, we can handle all of your billing and collections needs, from start to finish.

Get Help From Practice With Ease 

If you’re struggling with patient collections, Practice with Ease can help. We have a team of experts familiar with the HIPAA Privacy Rule and can help you develop new policies and procedures to ensure you’re always in compliance. We also offer various patient and medical debt collection services that can be customized to fit your specific needs. Contact us today to learn more about how we can help you get the money you deserve!