Obamacare Requires a Great Early-Out Self-Pay Billing Company
How can a great early-out self-pay billing company help you navigate the challenges of Obamacare?
Obamacare has already faced many bumps in the road. However, healthcare reform has more than just the Federal government scrambling.
Many healthcare providers are struggling to keep up with the changes and answer the questions of their patients.
These new challenges require healthcare entities to partner with early-out self-pay collection companies that can help ease the burden.
The time is NOW to evaluate and talk with an early-out medical billing firm that will ensure your facility stays top of patient receivables well before they needlessly become delinquent and roll into bad debt.
An “average” early-out billing company helps you manage self-pay receivables by establishing payment plans and offering other creative solutions to help patients meet their financial obligations.
However, a GREAT early-out collections company will go the extra mile. They will significantly alleviate the disruptions caused by healthcare reform by assisting in several other areas!
Clear Up Confusion for Your Patients and Free Up Your Resources
Due to the changes in national healthcare, confusion has become the norm.
Countless patients are not even familiar with their options or current status when it comes to their health insurance policies.
For example, quite a few individuals have obtained medical insurance for the first-time in their lives. Many others have been shifting to policies with bigger deductibles or co-pays. Some others still don’t have medical coverage at all.
Additionally, there are many who believe they enrolled in insurance coverage, but, due to the problems with the Obamacare website and marketplaces, they don’t actually have insurance coverage at all.
This transition is straining the resources of hospitals and physician practices. They are spending more and more time helping patients understand the changes and having difficulty themselves in getting accurate answers.
A successful early-out partner like Healthcare Financial Assistance (HFA) will help your patients clarify their insurance coverage status and free up your staff from this time-consuming process.
If the patient’s insurance coverage is lacking, HFA can also help identify additional resources such as workers’ compensation, secondary insurance, Medicare, Medicaid, or additional programs that may be utilized by your patients.
Numerous health care service providers are struggling to keep pace with their patient accounts receivable. They are discovering how the complications brought on by Obamacare are confusing their patients and limiting access by patient billing and coding departments.
Inevitably, these problems will pass, but it will be a big problem for the foreseeable future.
Healthcare providers can’t wait for the government or their patients to solve the problems.
To minimize the quantity of balances sent to collections, many responsible healthcare providers are engaging an early-out partner to help.
Hiring the right partner like Healthcare Financial Assistance (HFA), healthcare facilities can prevent the expected increase in days of A/R by reducing the amount of accounts being sent to collections.
HFA’s Early Out Billing Solutions
Early-out balances are generally worked in the healthcare provider’s name, which makes it transparent to the patient that a third-party is involved.
Profitable early-out strategies entail cooperating with patients without health insurance. They actually enhance goodwill by setting up reasonable payment plans and ensuring all payments are made promptly.
HFA delivers comprehensive reports that keep you up-to-date with each phase of the early-out process and can deliver a real-time patient status…just as if the account were worked in-house.
HFA’s clients benefit from our early-out solutions which will identify supplemental billing options (i.e. secondary insurance, Medicare, etc.) while also promoting the patients’ responsibilites to follow-up as well.
In many cases, we find insurance coverage and ensure it is filed and paid.
Does your facility have a charity care option? Try our state-of-the-art portal that allows patients to fill out the majority of required information online and get a preliminary determination of qualification without impacting your staff at all.
We have many other creative options in our early out programs, so feel free to contact us and let us share more of our secrets for maximizing collections.