Account control technology is not defined in the post, but the content points to the need for technology and payment-collection methods that patients feel comfortable using. The post says confusing benefits, surprise medical bills, and uncomfortable payment technology can make collection harder, so providers should use simple, compassionate processes and, when needed, partner with a professional debt collection agency.
- Patients are often surprised by medical bills and may not be able to pay them in full.
- Confusing benefits and uncomfortable payment technology can reduce payment collection.
- Providers can help by discussing costs upfront, offering payment plans, and using professional collections support.
Frequently Asked Questions
Why are so many medical bills unpaid?
The post says bills often go unpaid because healthcare benefits can be confusing, patients are surprised by what they owe, and some cannot pay bills in full. It also notes that insurance may cover less than before, while healthcare costs continue to rise. These factors can leave patients unable to resolve balances.
How can providers reduce unpaid healthcare bills?
The post says providers can address unpaid bills by consulting with patients upfront about costs, explaining what is covered, clarifying out-of-pocket responsibility, and understanding the patient’s financial situation. Providers can also work out payment plans or reduced-cost care to make payment more manageable.
What role does payment technology play in medical debt collection?
The post says some patients are not comfortable with the technology providers use for payment collection, and that this can affect whether bills are paid. It suggests that providing simple ways for patients to pay can make a difference during collection and support better payment outcomes.
When should a healthcare practice use a debt collection agency?
The post says that if a practice is having a difficult time with unpaid bills, it may be time to partner with a debt collection agency. It also notes that practices can suffer from unpaid bills, and in some cases may even have to shut their doors if revenue is not recovered.
What should a healthcare provider look for in a collections partner?
According to the post, a professional agency should have experience keeping records, documenting each interaction, and following compliance rules and regulations. The post also emphasizes a professional, compassionate approach and simple payment options to help recover money owed while handling medical debt carefully.
Healthcare continues to be a controversial topic. Between health insurance, co-pays, and flex cards, the benefits can become confusing for the consumer. Consumers are often surprised by medical bills and unable to pay them. According to Health Exec, more than 90% of healthcare consumers were surprised by a medical bill in 2018, while nearly three-quarters were confused by a bill’s content and more than half could not pay a bill in full if it totaled more than $1,000.
Just as the consumer needs protection, so does the provider. Unpaid bills can be detrimental to healthcare organizations.
Sometimes it’s not just the benefits that are confusing, but often patients are not comfortable with the technology many providers are using for payment collection. This can also impact payment collection.
Common Reasons for Unpaid Medical Bills
In addition to the reasons outlined above, an article in Modern Healthcare sites these as some common issues for unpaid bills:
- Insurance is covering less than they used to, so patients are responsible for more
- Medicaid cuts and the repeal of the individual insurance mandate influence coverage and payment
- Rise in healthcare costs overall
To proactively address these issues, providers are consulting with patients upfront about cost to help them understand what is covered, what will be owed out of pocket, and what individual’s financial situations are. Then, providers can work with patients to create payment plans or perhaps reduced-cost care.
How to Address Medical Debt Collection
No matter the reason or the approach, the bottom line issue is that medical bills often go unpaid. Because of this, practices suffer, sometimes having to shut their doors. If your practice is having a difficult time with unpaid bills, it may be time to partner with a debt collection agency.
During the debt collection process, it is vital to keep records, document each interaction, and follow compliance rules and regulations. A professional agency has experience doing this along with the background and skills to implement collections in a professional, yet compassionate way.
Providing a compassionate approach and simple ways for your patients to pay can make all the difference. Though it may seem like another expense, partnering with a collections company can be the smartest solution to debt recovery.
Debt collection is a sensitive but necessary component of healthcare. A practice cannot function without revenue, and unfortunately, medical debt is exceptionally high in the U.S. With the help of a professional debt collection agency, your practice can begin to recover money owed. Our professional staff at TSI would love to help you in this area. Please contact us for more information and to learn more about healthcare debt collection.