Healthcare organizations are under increasing pressure to reduce costs and maximize reimbursement for services rendered. However, a vast majority of organizations wait more than 90 days before sending a patient account to an outside collection agency, according to Medical Group Management Association's most recent MGMA Stat poll.
For the poll, MGMA asked more than 1,000 healthcare professionals how long they wait before sending a patient account to collections. The poll took place April 9.
In the poll, 43 percent of respondents indicated their organizations waited 91 to 120 days before sending an account to collections, while 32 percent indicated their organizations waited more than 120 days. Only 16 percent of respondents indicated their organizations waited 60 to 90 days, and only 2 percent indicated their organizations waited less than 60 days. Seven percent of respondents said their organization never turned an account to collections.