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7 tips to improve patient collections

According to a consumer credit report survey by CFPB (Consumer Financial Protection Bureau), approximately 42.9 million people with credit records have outstanding medical bills. This is a clear indication that collecting money from patients is a serious challenge for most practices.

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7 tips to improve patient collections

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  1. According to a consumer credit report survey by CFPB (Consumer Financial Protection Bureau), approximately 42.9 million people with credit records have outstanding medical bills. This is a clear indication that collecting money from patients is a serious challenge for most practices. In an article published by the MGMA (Medical Group Management Association) there are various challenges due to which practices fail to collect money from patients, ranging from high deductible plans, nature of patient expectations, uninsured patients and so on. 7 Tips to Improve Patient Collections http://www.247medicalbillingservices.com

  2. If you are a practice struggling to maintain revenue due to collection issues, then here are seven useful tips to consider: At times practices fail to confront patients over payment issues due to which collection becomes a challenge. It is very important to have a robust financial policy for your practice. Even before the services are being rendered, it is important to calculate the amount the patients will owe. Practices need to offer different payment options to patients. Some practices offer self-service payment tools to patients. Statements being sent to the patients should be easy to understand. Establishing an automated payment plan also helps in boosting collections. 7 Tips to Improve Patient Collections http://www.247medicalbillingservices.com

  3. About 247 Medical Billing Services:We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses. Contact: 247 Medical Billing ServicesTel: +1 888-502-0537Email: info@247medicalbillingservices.com 7 Tips to Improve Patient Collections http://www.247medicalbillingservices.com

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