Did you know that in 2010, over 70 million people reported trouble with paying for their outstanding medical bills? US hospitals currently average about 36 billion dollars in uncompensated care. What happens when patients visit hospitals but do not pay off their outstanding medical bills? What happens to the doctors and hospitals that need to be paid in order to continue working and functioning? Payment compliance services are one way that hospitals and doctors choose to deal with this financial issue.
Revenue recovery is important to ensure future running of a hospital or medical office. A payment compliance company will help ensure that medical professionals get the money that is owed to them. What should you look for in payment compliance services?
A quality payment compliance service should be willing to do managed care review, refund review, collection on old or difficult AR, credit balance reconciliation, payment reviews, contract compliance audits, and more. If you are looking for a payment compliance company to help you, carefully review what each program is offering in terms of assistance. Sometimes the best deal is not the same as the best care for your practice.