BC Advantage - 2015 Issue 11
Collections: Collecting money has become harder than ever!
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Article Overview
This article addresses current collection challenges affecting medical practices, including broader consumer debt trends, changing credit-score treatment of medical debt, and pressure on recovery performance. It is written for practice managers, billing staff, and revenue cycle professionals who want a practical overview of collection-process topics, agency-selection considerations, and patient-payment communication approaches.
Why This Topic Matters
Collections performance directly affects cash flow and accounts receivable health in medical practices. The article highlights why older collection methods may be less effective now and summarizes operational factors that can influence recovery efforts.
What You Will Learn
- Why medical practice collections have become more difficult
- How broader financial and credit-score trends affect patient debt
- General methods for improving cash flow and recovery performance
- What to consider when evaluating collection agencies
- How billing communication and statement practices can affect payment collection
Who Should Read This
- Medical practice managers
- Billing and collections staff
- Revenue cycle management professionals
- Healthcare administrators
- Billing service providers
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