Communication between healthcare providers, payors and patients may be a missing component in the collections process, according to Healthcare Finance News.
Sunni Patterson, president and CEO of RMK Holdings collection company in Chicago, said many hospitals still send bills directly to patients with no explanation of charges, making an emotionally volatile process even worse.
She recommends referring patients to a third party for financial assistance for a procedure to give the patient a chance to not to go collections. The healthcare provider receives more revenue and the patient feels less overwhelmed by the process.
Billing automation can also increase opportunities to provide patients with financial assistance, verify co-pays and insurance ahead of time and set up payment plans. Taking a more data-driven approach can optimize the collections process.
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Sunni Patterson, president and CEO of RMK Holdings collection company in Chicago, said many hospitals still send bills directly to patients with no explanation of charges, making an emotionally volatile process even worse.
She recommends referring patients to a third party for financial assistance for a procedure to give the patient a chance to not to go collections. The healthcare provider receives more revenue and the patient feels less overwhelmed by the process.
Billing automation can also increase opportunities to provide patients with financial assistance, verify co-pays and insurance ahead of time and set up payment plans. Taking a more data-driven approach can optimize the collections process.
More Articles on Coding, Billing and Collections:
California Issues Workers' Comp Changes for ASCs
California Medical Association, Aetna in Deep Billings Dispute
Bundled Payments, Narrow Networks & Acquisitions: 5 ASC Reimbursement Trends to Expect in 2013