Medical bill collections are an increasingly prevalent problem in Sarasota, Florida. Medical debts develop quickly; sometimes too quickly for a patient to pay their bills on time. This is problematic for medical providers seeking payment in full. Fortunately, medical collections services like Accelerated Medical are here to streamline, maximize and simplify the process.
Medical bills are more complex than the debts tackled in other accounts receivable departments. Due to the legalities surrounding a patient’s right to privacy, many healthcare companies are losing money.
Getting Paid by Opting for Third-Party Assistance
Getting help from an outside resource can be the smartest move a company makes. For a medical practitioner, your job is helping patients, treating illness, and focusing on healthcare. For your clinic receptionist, the job focus is booking appointments, managing correspondence, and maintaining the face of the company. Trying to juggle these jobs along with accounts receivable doesn’t make sense. This is where we come in.
Hiring a third-party company to manage medical bill collections ensures you have the time and focus to run your company. With no laws preventing the use of collection services, you create more time and resources to focus on the patients in your practice.
A third-party medical bill collections professional has the skills needed to deal with patients in a friendly but firm manner. We specialize in maintaining the relationship and rapport you’ve built while instilling the importance of prompt and full payment.
For the medical community of Sarasota to continue serving our friends and neighbors, we need to ensure you are paid for the work you do. Accelerated Medical does exactly that.
Create an Option for Payment Plans for Reduce Missed Payments
Not every patient has the funds to pay a medical bill immediately. This does not mean he or she will not pay eventually. Creating a payment plan encourages patients to pay what they can when they can. By designing a plan which delivers regular installments, you guarantee your practice receives full payment eventually while maintaining a positive relationship with your patients.
Your medical bill collections agency will help work out these details and manage payments. This limits the number of missed payments and increases profit and efficiency. When patients feel less pressured to deliver a payment entirely upfront, they’re more open to the idea of paying everything back. In many cases this improves the speed at which money is paid, making it worth the wait to take payment in portions.
Benefits of Hiring a Medical Bill Collections Partner
When you hire a medical bill collections company like Accelerated Medical, you gain a partner in payment management. There are many benefits to working with collections companies, such as:
- Increases Collection Rates – For many medical practices trying to collect on their own, collection rates are low. Due to time restrictions and other issues, many healthcare workers lose money waiting for patients to pay. Working with a collections agency improves collection rates and ensures fast and streamlined payment.
- Creates Opportunity for Updated Technology – The medical industry is constantly being offered new technology in the form of software and billing tools. Working with a medical bill collections team gives you access to this new technology.
- Improves Collections Documentation – Medical bill collections agencies are required to provide documentation for every interaction made. This offers proof of repayment and allows you to retain an organized inventory of debts yet to be collected.
- Limits Time Waste – The worst part of collecting medical debts alone is the wasted time and resources practitioners deal with. Hiring help limits the time you spend on payments and increases the time you have for patients, family, and yourself.
These are a few of the advantages offered by Accelerated Medical through our medical bill collections services.
Why Accelerated Medical is Right for Your Practice
With years of experience and a myriad of modern tools and software at our fingertips, Accelerated Medical is medical bill collections done right. Our team increases the productivity of your clinic, decreases time wasted and improves overall patient and physician relations by removing the touchy subject of money from your repertoire.
We understand that as a medical practice, time is the most valuable commodity you have. We work with your patients on the non-medical related issue of debt management, so you don’t have to.
Interested in learning more about the services offered by Accelerated Medical? Contact us today. Our team of experienced medical bill collections agents are well-versed in standard medical codes and happy to answer any questions you may have.