Patient Collections
Tried and tested strategic approach to reduce patient collections
Patient financial responsibility is steadily climbing, accounting for a greater portion of healthcare revenue. With patients shifting a provider’s revenue sources, providers and practices alike must implement internal patient collection strategies, so providers can collect all the revenue owed to them in a timely manner. Patients financial responsibility is significantly increasing under health plans with greater deductibles, out-of-pocket costs, and cost-sharing arrangements. With patients becoming increasingly responsible for total costs of care, provider revenue is shifting. Revgage help providers redesign their internal patient collection strategies to get ahead of collections before a medical bill is even sent, developing convenient payment options for their patients, and monitoring collections performance to sustain success. Revgage will not only help design policies for proactive patient collections but will also track patient collection KPIs to sustain improvement.
We help you reduce your patient collections by:
- Develop protocols to collect OOP costs upfront
- Sending out timely patient statements
- Contacting patients with outstanding balances
- Soft collection calls