At Premier Collection Services, we live and breathe managing accounts receivables for medical practices. Medical billing is continuing to become increasingly more difficult to manage internally without some professional assistance. So, the most important tip that we have to offer is to let our experienced and dedicated staff at Premier Collection Services handle your delinquent accounts. Additionally, we wanted to share 4 tips to help better manage accounts receivables within your practice.
It’s important that your office staff, especially the front desk team, has a good understanding about your accounts receivable practices. Payment collections starts with your front desk, so it is important that they are trained effectively to get the patients to pay at the point of service. A great way to achieve this is to post your patient payment policy visibly around your waiting room and office. When calling a patient to remind them of an upcoming appointment, be sure to make them aware of the expected costs so that they are prepared when they arrive.
Medical billing can be confusing not only for your medical practice, but also for the patient as well. There can become confusion around insurance and the patients expected out of pocket cost for their visit or service rendered. Being transparent about the price is critical to better manage your accounts receivables. This prevents your patients from becoming totally shocked that they owe a balance to your practice after an appointment. Let your patients know up front what the cost will be for a particular service before it is rendered so that they can decide if it is something that they can afford at the time.
The more difficult it is to pay your practice, the more delinquent accounts that you’ll have to deal with. At Premier Collection Services, we highly encourage you to simplify your claim payment options so that it is crystal clear as to how to pay patient bills. Offering credit or debit card payments as well as online payment options will surely help you better manage accounts receivables for your practice.
An efficient medical practice records and tracks every transaction. Additionally, you should tap into the reporting tools and resources that you have available so that you can better manage accounts receivables. Making the review of these reports a habit is a great way to make sure that delinquent accounts don’t get missed or forgotten.
These 4 key tips will definitely help your practice better manage your delinquent accounts. If you’re interested in learning more about developing a partnership with our crew at Premier Collection Services and how we can help you better manage your accounts receivables, give us a call today at (801) 401-5535.
