Let's Face It: Patient Collection is Mission Critical

No one will disagree that the largest and most difficult payor from whom to collect in a medical provider office is the patient. But let's face it: practices can no longer survive by focusing primarily on insurance collections. The rising cost of insurance is forcing businesses and individuals alike to choose higher deductible and co-pay insurance plans in order to afford the monthly premiums. Timing is key when collecting patient balances. Did you know that the moment a patient leaves a provider clinic without paying the amount owed, the chances of that provider collecting from the patient plummet? McKinsey & Company conducted research which showed a patient is: 90% likely to pay BEFORE

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