Medical bills are something every person encounters. However, when youโre a healthcare professional running a business, medical bills need to be collected promptly to receive payment.ย
One thing is for certain: as a healthcare professional, you shouldnโt deal with collectingย
medical bills on your own. The smartest way to deal with medical bills is to find a trusted medical billing company that can help sort out your finances appropriately
The best medical biller for you will be someone who can make sure youโre getting the most revenue out of your business. Medical billers want you to get paid, and itโs their job to take care of any roadblocks that are in the way of you receiving payment, whether it’s due to an insurance claim hold-up, or a patient who doesnโt have enough funds to pay up.ย
How Long Are Medical Bills Collectible For?
Based on the data available on the official US census website, about 19% of America wonโt be able to afford to pay medical bills right away. Non-paying patients are an aspect every healthcare professional has to deal with at one point in their career. When you have patients who havenโt paid the balance due on their account, youโre probably wondering, how long is a medical bill collectible for?
Medical bills are collectible for a period of 30-180 days. The amount of time a doctorโs office will attempt to collect payment from a patient depends on the amount of the outstanding balance and standard practice procedures for collecting late payments.ย
Itโs at the doctorโs office’s discretion when they decide to hire a collection agency to take care of the patientโs account. If itโs a long-time patient, the office may be more willing to work with them. If itโs a one-time patient who keeps missing appointments, the office may wait a month after initiating contact and then send it straight to a debt collector.ย
What Are Reasons Why A Medical Bill Isnโt Collected?
Receiving a medical bill as a patient can be daunting. When a medical bill fails to be paid, itโs always because of the patient. The multitude of reasons a medical bill will be left unpaid is because:
- The patient couldnโt pay for services
- The patient refuses to pay for services rendered
- The patient found a coding/billing error
- The patient doesnโt understand the billย
Patients donโt always ask the questions they should be asking, so itโs up to the medical biller to make sure the patient understands that they:
- Owe a balanceย
- Understand why they owe that balance
- Understand they have options when it comes to paying that balance
Clear communication with patients about the bills they owe can reduce the number of payments that go to a collection agency. Any outstanding medical debt is collectible as long as the patient is willing to pay something.ย
How You Can Reduce the Impact of Medical Debt on Your Practice
A professional billing company can prevent the harmful impact medical debt can have on your practice. Professional billers can contact patients for a follow-up call, send any outstanding bills to collection agencies, and work with patients on a payment plan when needed. A lot of patients who can pay arenโt aware that they donโt have to pay the whole amount.
Before sending a patientโs account to collections, a reputable medical biller will attempt to see if the patient can pay anything on their account. Even the smallest amount can prevent an account from going to collections.ย
There are solutions to prevent ongoing problems with patients who donโt pay up. Only a medical billing company can perform the necessary services to make sure youโre receiving what is owed for the healthcare services provided.
The Best Ways To Deal With Medical Debt As A Doctor
Although we love to think that all patients will always be considerate enough to pay the balance on their account, the real truth is patients can easily neglect a medical bill. Many patients are unaware that billing departments are more than willing to work with them.
Donโt opt for dealing with unpaid medical balances by yourself since youโll only end up with a pounding headache. As a healthcare professional, itโs important to manage your time wisely by hiring a medical billing company.ย
Luckily, medical billing companies know how to start the process of getting the money owed to your practice. Schedule a meeting with a medical billing professional to see how they can help keep your medical officeโs finances in check.ย