The uninsured and underinsured are reaching all time highs; hospitals can no longer depend solely on the collection agencies to reduce these receivable dollars. Much of the Self Pay receivable represents the rising cost of deductibles, co-insurances and co-pays. The patient out of pocket expenses also continues to be taxed by the growing number of limited coverage by the insurance plans. These factors make the collection of the Self Pay receivable difficult to collect not to mention the invested manpower needed for to facilitate the process. Other factors that impact the collection of these receivable dollars are return mail, correspondence from patients and the insurance company, increased incoming phone calls and walk-ins.
PF Concepts has designed principles that will provide the staff with an understanding of the importance of prioritizing the resolution of the Self Pay receivable.
PF CONCEPTS PROVIDES COMPREHENSIVE ON-SITE REVIEWS
PF Concepts can provide clients with the tools they need to maximize the collections and screening process of the Self Pay receivable, while maintaining a consistent workflow. Our management team specializes and offers extensive knowledge and techniques to assist the client with this mounting difficulty. Our assistance in putting the controls in place will benefit the patients and increase the performance of the staff. Pf Concepts will perform a comprehensive on-site review of your current process, procedures and staff compliment. Our monitoring tools are designed to be used as a internal guide or outsourced to us to reduce the day to day resolution of the accounts to give your staff the ability to focus on other defined tasks. Outsourced services and activities are implemented through our Customer Service Call Center.
Typical improvements include:
Patient cash acceleration
Reduced collection agency fees
Reduced bad debts and all related expenses
Improved follow up controls
Decreases in self pay receivables
The ultimate satisfaction of our clients is a requirement of our corporate objective.