Anyone in the medical field long enough know what it’s like to deal with patients who don’t pay. Depending on the size of your practice, that can present huge cash flow problems. What’s the best way to handle this situation? Hospital Collection Services in Reno shares three steps a medical practice should take when customers don’t pay.
Notes & Documentation
An importance first step is to keep detailed notes and track all unpaid invoices. Make a point of keeping updated contact information for your patients, and include clear notes on the scope of medical care and agreed-upon reimbursement.
It’s also helpful to create a clear paper trail of unpaid invoices. Signed contracts serve as proof that you’ll need in the event your patient refuses payment. Keep all documentation relating to your patients, including copies of any correspondence you’ve sent about outstanding payment.
Direct Contact
Step two involves reach out directly to your patients. While it’s common to assume the worst, there may be a reasonable explanation for a late payment. By contacting your patient directly, you give them the opportunity to settle their debt or work with you directly on a payment plan. If you can’t reach a patient by phone, email, or letter, and the debt is one to three months past due, consider it a sign to bring in a professional medical collection firm like HCS — which brings us to step three.
Bring in a Professional
It’s not always easy to know the right turn to turn over an unpaid balance to collections. The truth is that the sooner you do, the better your chances of recovery. Doing so also frees up your staff to focus on your practice and patients — it takes a tremendous amount of resources to chase down patients who don’t want to be found. Established and experienced firms like HCS also understand how to work on your behalf without damaging important patient relationships. We’ve honed our compliant, reputable approach to medical debt recovery over decades, and we can apply it to your benefit.
If your practice is struggling with unpaid debt, start with these steps. And if you decide you need professional help, contact HCS so we can make a plan for you.
