The importance of collecting the right information to ensure you collect your payments.
June 26, 2014 (Newswire) - All new patients fill out information forms. By adding a few extra fields, they become far more valuable to your Practice. The extra information along with a quick glance for empty fields by your staff won't take much effort but will dramatically improve the bottom line on your Finances. There are only two quick and easy things to do. One takes about 5 seconds and the other only has to be done once.
Don't accept Empty fields
Empty fields on a submitted application are usually there to keep you from finding out something the patient doesn't want you to know. This goes for scribbles and other forms of misdirection. You can't mail a bill to an address you can't read or make a call to an uncertain phone number.Have your Staff return forms that are not complete or illegible. Sometimes, this is an intentional ploy to avoid paying you your bill. Even if it is unintentional, it may cause the same result.
You work hard for your money and don't need the aggravation that comes from an Insurance ID that is rejected or a phone number that never answers. You don't need information, you need correct information.
Ask for Emergency Information
People are reluctant to provide contact information but will usually fill in Emergency information. If an urgent Medical issue needs their immediate attention they will provide their direct work phone plus the general phone and their extension. For the same reason, the will provide their cell phone number, a Spouse phone number and other requested contact information. This information is very good for emergencies, but also valuable if your bill isn't paid.
Many people screen their private phone numbers and don't answer calls regarding a past due bill, but they don't screen incoming calls from their work phone. In the same regard a Spouse is more likely to answer the cell phone if you call.You won't have to make any more calls, but there will be more contacts and more resolutions. Your staff will get through much more often on past due bills and you will collect a lot more money.
Eventually, some of your bills are sent to a Debt Collection Agency. On average, the American Collectors Association says non hospital Medical bills are collected at a rate of twenty-one cents on the dollar. With more and better contact information on your Application Form, however, your Agency has a better possibility of reaching your patients. You will get much better results here as well.
Have your Staff check your Application for empty fields that are important and add the extra 'Emergency' phone numbers to your Application. How often does no extra work yield big dividends?
Understanding debt collection and
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ABOUT EXECUTIVE CREDIT MANAGEMENT, INC.
Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening.
Executive Credit Management belongs to a number of Skip Tracing
databases and offers services to help locate and confirm the current
address of missing debtors. Other services provided are: litigation
evaluation on all lawsuit decisions, improvement of the quality of the
applicant data, Lawsuit Monitoring, Handling of Debtor Disputes.
Executive Credit Management features the best Call Monitoring System in
the Debt Collection industry.