Improve Cash Flow and Retain Patient Goodwill
In most practices, a small percentage of claims are not resolved and can be difficult to conclude.
You typically file tracers and make phone calls to the insurance companies but, unfortunately, receive minimal responses. These claims may remain uncollected for months! You often face two difficult choices - write off the unpaid accounts or refer them to a hard-core collection agency. Harsh collection measures often result in the loss of the patient as a client, in addition to a loss of 35 to 50% of the value of the claim.
In summary, MedSteward will provide a collection solution which allows you to close the book on most claims while minimizing the negative effect on patient goodwill.
Recover money faster: Unlike other collection agencies, past-due accounts are instructed to pay you directly. You collect from both patients and insurance companies.
Save on internal and collection costs: Reduce internal costs by as much as 30% and your collection costs by as much as 50% using our collection system.
Retain control, patient loyalty, and goodwill: You decide when to start and stop collection activity, and how you want each account handled - diplomatically or intensively.