While mailing multiple statements to patients with past due accounts is a common practice among healthcare organizations, there’s a large expense associated with that outreach. Just how much of an expense is a figure that seems to have a very broad range.
A recent TeleVox survey captured insight from nearly 250 healthcare organizations engaged in communication with their past due accounts, and the results were extremely eye-opening.
35% of survey participants reported that the all-inclusive cost of a mailed statement to a past due account is more than $1.50. This figure includes printing, postage and any staff labor costs directed toward preparing and fulfilling this mailed outreach.
Even more troubling is the 16% of survey participants who estimate the cost of a mailed statement to be higher than $2.75. All-inclusive costs this high have many organizations searching for an alternative to more cost-effectively communicate with their past due accounts.
How expensive are your mailed statements to past due accounts? Download the whitepaper The Impact of Automated Outreach on A/R Results to learn how healthcare organizations are overcoming the challenge of expensive mailed statements.