Medical Billing Collection Services

Written by Kimberly Clark
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Prompt payment regulations have been passed in the majority of the country to ensure that physicians and other healthcare entities receive payment for their services in a reasonable amount of time. In most cases the time frame has been defined as 30 to 45 days. However, a large number of physicians are reporting that if they see any payment at all, it is generally not until 60 to 90 days passed.

It is estimated that the Health Care Financing Administration (HFCA) rejects about 30 percent of the claims it receives, yet only about half of the claims that were initially rejected are ever appealed. For those that are appealed, approximately 60 percent are approved. However, most physicians opt not to pursue this course of action. Being on top of these issues and having the proper documentation can make appeals much easier. In fact, having the right medical billing software suite can prevent most ineligible claims from being filed in the first place.

Then there is the issue of the patients' failure to pay their portion of the bill. Many of them are unable to pay for one reason or another, but some never intended to pay. A lot of physicians tend to be a bit blasé about this matter too, waiting several months before reporting the patients to the credit bureau or simply charging it off as bad debt.

Collecting on Medical Debts

But to recoup some of the losses, a physician could contract with one of the many medical billing collection services out there. A physician could decide to contract the service to collect on a few outstanding debts or outsource his entire billing department to the company. Whatever the case, the medical billing collections services have the skills and resources to collect on medical debts and since this is a very competitive business there is a vast number to choose from.


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