Medical practices are businesses…not non-profit organizations. In order to maintain a healthy bottom line, and continue to flourish as a thriving medical practice, from time to time, patients need to be called on to pay their bills. Whether it is past due co-pays, insurance rejected balances, or if they are self-pay patients, it can be a challenge to collect from patients while maintaining their ongoing care. Medical practices have two options for patient medical collections: in-house collections or outsourced medical collections. Each has their benefits, and their drawbacks.
For decades, small and mid-sized medical practices have historically handled medical billing and medical collections in-house. This was fine before the laws and regulations regarding collection practices changed, and the implementation of the Affordable Care Act. Now, paperwork, increased regulatory oversight, and other administrative tasks are overwhelming medical practices resulting in poorer patient care that no one wants. Having in-house administrative staff, whether it be receptionists, or health practioners do the dirty work of calling and trying to collect unpaid balances from patients is uncomfortable, on both sides. Patients are less likely to rebook appointments, and continue the care they need, if they have to face the person on the phone when they go in for an appointment. If you chose to keep your collections in-house, be sure to keep a line between patients and those that care for them to avoid any hesitation for your patients to seek care.
Outsourcing your medical billing and medical collections allows your staff to do what they are best at – patient care. So many of your administrative staff and the healthcare team are overwhelmed right now. The implementation of the Affordable Care Act and all the new reporting, billing and collecting regulations have caused many medical team members to have more on their daily plate than is doable. Professional medical billing and medical collection companies can relieve your staff from the mountains of paper work, and the stress involved with collecting from your patients. Medical team members and administrative staff are not adequately trained to collect from your patients; and few actually want to. If you ask around the office, you will find it is the most loathsome task, which no one wants to tackle…which translates into lower recovery rates. The majority of medical practices that elect to outsource their medical collections find immediate return on their investment in the form of higher recovery of outstanding balances, and a happier staff that is better equipped to provide confidential and compassionate patient care.
While some medical practice managers may be hesitant to turn over medical billing and collections to an outsourcing company, the truth is it allows for the staff of the practice to focus on the top priority – patient care. Recovery Billing Solutions of Delray Beach can help. Compare and learn why Recovery Billing Solutions can save you thousands in recovery costs: http://www.recoverybillingsolutions.com/why-choose-rbs. Recovery Billing Solutions has the expertise you need to increase the recovery of outstanding patient invoices. Respect your patients, and your staff by learning more about the benefits of outsourcing these functions. Leave patient collections to collections professionals and patient care to your team!
About Recovery Billing Solutions
Recovery Billing Solutions offers comprehensive medical billing, collections, coding and ancillary services to help small and mid-sized medical practices increase internal efficiencies and while raising revenues. Outsourcing billing and collections functions allows your internal medical team to focus on patient care and allows for quicker payment on claims. Visit www.recoverybillingsolutions.com for more information about the services available to help you meet (and exceed) your revenue goals for 2014.