Best Practices for Healthcare Collections

In cooperation with the Association of Credit and Collection Professionals, the Healthcare Financial Management Association (HFMA) released a list of best practices for collecting and resolving outstanding medical debts. Some of the recommendations include: Communicate and educate patients in a timely manner regarding their payment options and responsibilities, as well as the availability of financial assistance programs […]

Criteria for Determining Successful Partnerships between Healthcare Providers and Collection Agencies

How do you measure the success of your partnership with a healthcare provider? Of course, increased recovery and improved collection rates represent primary metrics. But, what other important capabilities enhance the partnership? Some critical evaluation criteria for provider-agency partnerships include: Specific Experience in Healthcare Collections — Unless a provider selects an agency with substantial experience […]

Why High Quality Payment Processing Solutions are Important for Healthcare Providers

For healthcare providers, installing a pain-free payment processing solution is in the best interest of their business, but also helps them to stay on the good side of their patients as well. According to a recent study from Availity, the ability of healthcare providers to collect from their patients during or before the service is […]

What Healthcare Providers Look for When Outsourcing Patient Payments

Unpaid patient accounts cripple a healthcare organization’s bottom line. To improve their financial situation, providers often turn to third-party agencies to realize specific benefits. In an outsourcing relationship with a healthcare provider, healthcare collection agencies must ensure they deliver real value, including: Saving the provider money – In many cases, a third-party agency saves healthcare […]

The Relationship Dynamics between Healthcare Provider and Third-Party Agency

Today, the healthcare industry faces numerous challenges, including a changing patient, payer and regulatory environment. In light of these dynamics, third-party agencies must work diligently with healthcare providers to improve collection performance. How should you establish and manage the relationship with your healthcare provider client? Creating a successful collection program depends on building a synergistic […]

How Collection Agencies Mirror Philosophies and Objectives of Healthcare Companies

As a third-party agency, how can you ensure your collection efforts are compatible with your healthcare client’s expectations? A good starting point is to understand the recommendations developed by the Medical Debt Collection Task Force, a group led by members of the ACA International (the Association of Credit and Collection Professionals), the HFMA (the Healthcare […]