As I talk with more and more healthcare organizations about their growing A/R accounts and what they’re doing to get them resolved, it’s clear that one of the ways they can turn the tables is by winning the numbers game.
What do I mean by that? I simply mean making more proactive touches to past due accounts earlier in the delinquency cycle. Patients are most likely to pay closer to the time of service. As those balances age, the odds of collecting decrease tremendously. Statistics show that after 120 days, only 65% of accounts at that stage will ever make payment. Your best bet is getting to them as early as possible.
But with traditional outreach methods of mailed statements or calls from the staff, it’s easier said than done. Visit HERE or view the QuickTake video below to for some tips on how you can increase touches to past due accounts. Start winning the numbers game in self-pay collections!