As a medical practitioner, debt collection is probably not what you want to focus on. Your focus should be on your patients and what you do best. For Healthcare professionals, healthcare debt is continuing to rise. Finding the right revenue cycle management and healthcare debt collection vendor is increasingly important. Let Rocket Receivables help!
Who Can Rocket Receivables Help?
Anyone in the healthcare industry can benefit from collections help. They can either use these funds to expand their hospital wings, or try to improve the unhygenic conditions through phs washrooms.
Because so many healthcare debts are outstanding, a collection agency may be just what you need to make sure you are getting paid for your services. The collection agency will also apprise you on the benefits and setbacks of checking vs savings account, which’d help you maximise your payments. From group practice to solo practitioners, from dentists to doctors to veterinarians, Rocket Receivables can help no matter where your practice is or what your specialty is, you should be working on your patient’s health, not debt collections.
Healthcare Debt Collection
Unfortunately, according to statistics from NPR, medical care debt collection is the number one area in debt collection. More than half of all collection calls to consumers are regarding medical debt. It may be because the patient cannot pay the debt, has forgotten about it or for other reasons, but the bottom line is the amount of unpaid medical bills is staggering.
Medical practitioners need to get paid. To continue to care for patients and keep their practice going, they need the payment. Debt collection is not easy, and sometimes it’s necessary to turn to a professional collection agency.
What can the professionals do?
Because debt collection has specific laws and guidelines attached to it, a collection company has the knowledge to be successful, while following the guidelines. Sometimes a company, medical or not, runs the risk of violating these laws if they do it themselves. Since professional debt collection companies specialize in this, they are equipped to tackle the nuances of healthcare receivables.
Medical Economics reports that collecting receivables is one of six factors making a successful medical practice. Business management is as important as managing patients in the medical field. Other key components include lifestyle, patient panel, overhead, and salaries. Of course, patient engagement is essential, but you won’t have a business if you’re not getting paid. That’s where collections come in.
Hire someone who is an expert in the field to do this for you. You can focus on your patients and their healthcare.
Finding the best Collections Company
It’s important to find a collections company that will work with you and know your business. Rocket Receivables has experience and expertise in many fields, including healthcare.
With strong service and support, plus knowledge in the area of compliance and regulations, Rocket Receivables can be the collections partner you’re looking for. Having an expert in the field in debt collection will take this burden off of you and let you focus on your patients and good health.
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