Start the effort to collect money at the beginning - in pre-registration and registration. If you wait until after the clinical services have been rendered, it’s too late.
Healthcare Financial Management (HFM), December 2005.
Healthcare Financial Management Association.
Everything I read says that up-front collections is the best opportunity to increase cash flow, reduce receivables and potential bad-debt write-offs. As time passes, the opportunity to collect decreases while the cost to collect increases.
Revenue Cycle Strategist, November 2005.
Healthcare Financial Management Association.
Eventually health insurance costs will be more transparent. Until then, most of us will have to doggedly pursue the information we need to make smart decisions about our healthcare.
BusinessWeek
"What the Patient Pays"
Nov. 27, 2006
When we finally started using ClearQuote™, we empowered our staff with a tool to have a positive and proactive conversation with patients about their fiscal responsibility. We know that patients who recognize and understand their financial responsibility are more likely to pay than those who do not.
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