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How Early Out Mitigates Patient Collection Risks

The problem that is currently weakening medical practice today is patient receivables and debt. However, we can lessen the risks through implementing early out plan in order to help healthcare professionals in getting what they deserve. Healthcare organizations particularly take advantage of early out programs which is specifically designed in order to determine additional billing while promoting patients to shell out.

To effectively eliminate the necessity to sustain extensive collection activities, this program is implemented to medical institutions for better outcomes. By using letters for patient notifications, accounts are easily updated to remind them of their outstanding balance. Basically, the letters will demand due payment which must be paid in full by the patient. They may contact the office in order to obtain exact payment details or speak to trained agent tasked to provide such information.

The early out plan is flexible and can be customized to suit your specific needs. The main advantage to clients is the participation of third party in terms of accounts receivable liquidation where in payment notices are provided by SWRS to conveniently prompt customers’ quicker action. To help you understand the program better, the following are the objectives of early out approach:

  • Identification of lost opportunities when it comes to revenues in clinical service days.
  • The program is also designed to determine patients who are waiting for eligibility determination medical assistance as soon as possible.
  • Collaborate with insurance agencies which need pre-authorization and other documents that patients should accomplish before they are assured with medical coverage.
  • Work with those patients who currently don’t have medical insurance and are categorized as self-pay account so that payment plans can be set up to ensure payments are made on time.
  • Target the performance aligned with account status’ initial conditions.
  • Join forces with clients during pre-authorization and registration according to their identification weak points via quantitative measuring of every collection detail.
  • Wide-ranging medical billing reports that is constant and up to date.
  • Through early out planning, fewer accounts will go to the collections yielding measurable returns in an earlier manner.

With the help of customized programs, you can meet all your needs in your medical practice without the hassles of traditional billing methods. All you need to do is find the best service package that can satisfy your current needs in the medical billing field. This will surely help you in mitigating risks associated in patient receivables and debt. This program efficiently works because it is very flexible. It will equip medical practitioners and healthcare organizations with the capacity to create changes in a faster manner.

Free up your key employees and focus more on your core business functions with an early out planning. Why struggle with a conventional method when you can use this approach to boos cash flow in no time. In addition, if you want to reduce overhead, this is the best way to go. For more details, please don’t hesitate to contact us today and get free quotes.

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