Patient Collections

According to studies, nearly 40% of healthcare providers fail to collect over 39,000 AUD every year from their patients...

Patient Collections

Medical billing and patient collections are among the most critical areas of your healthcare practice. Without efficient patient cash flow, it is near impossible for a medical practice to sustain itself. But though important, patient collections is a tricky terrain that has to be trodden very carefully. According to studies, nearly 40% of healthcare providers fail to collect over 39,000 AUD every year from their patients.

Some major reasons behind this could be:

  • Out-of-pocket costs for patients have increased by nearly 2305 in the last decade
  • Healthcare providers are unaware of all their accounts receivables
  • Health insurance premiums have increased by nearly 83% in 10 years, making insurance unaffordable to many

Whatever the reason may be, patient first collections in medical practice need to be handled with both empathy and firmness, which comes only with experience. If your healthcare business is struggling with numerous accounts receivables and patient first collections, you need an experienced medical billing service provider to optimize and accelerate your collection cycles.

When medical practitioners handle patient collections on their own, they usually wait till the end of the billing process, slowing down the process and decreasing the net collections eventually. You cannot afford to leave your billing activities as an afterthought if you want your medical practice to thrive. What you need is a central billing collections system that starts the billing and collections process the moment a patient walks in.

What you need to improve your revenue is to:

  • Optimize your collections
  • Shorten your patient payment collection cycles
  • Educate your patients of the numerous payment options they can avail
  • Reduce overhead costs

As a medical practitioner, your hands are full and you may not have enough time to focus on the financial aspects. You need a service that can increase the time dedicated to service collections. Quick payment estimations, patient information verifications, and easy payment options can make a huge difference to your collections efficiency.

An end-to-end medical billing and patient collections service

We at Medeye LLC offer a complete central billing and collections solution that pursue your accounts receivables from the start of a patient’s journey to the end of their consultation. Starting from your initial practice setup, which includes entering all the details of your service, supported insurance carriers, and fee schedules, we take care of all your medical billing basics.

With Medeye LLC, none of your receivables go unaccounted for. Every amount chargeable is entered into the system within 24 hours so there are no loose ends. We take charge of all the POS collections in your healthcare service as well as soft collections where there is patient payment responsibility.

With Medeye LLC’s patient payments collection services, you don’t have to worry about constantly pursuing insurance carriers for claim submissions and collections. We ensure that all electronic and paper claims are submitted timely and persistently follow up on submitted claims till they are processed and closed.

Medeye LLC end-to-end medical billing services bring to you:

  • Optimize your collections
  • Timely data entry of all charges, insurance claims, and payments received.
  • Efficient and smart appeals and denials management
  • Thorough pursual of all avenues for receiving payments in case of a dispute or denial
  • Resolution of all patient queries regarding billing and payment

Doctors, healthcare services, clinics, hospitals, and family practices of all scales are choosing Medeye LLC for their patient payment collections. Your medical practice could benefit from working with our experienced team of experts too.

If you wish to let go of all worries regarding medical billing and patient collections and focus on your practice, get in touch with us today.