As patients take on more financial responsibility for their care, it is more crucial than ever for hospitals and health systems to stay on top of their collection practices.
Jeff Means, a principal at Colburn Hill Group, an RCM operational solutions firm: Recognize the value in collecting a very large volume of low balance accounts, but adopt an intelligent, organized approach to that effort. It is critical to ensure you don't sacrifice — even periodically — the collection opportunity on your high dollar accounts to work a very large volume of low balance accounts.
To learn more about collecting on accounts, access this story from Becker's Hospital Review.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.