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    Medical Billing News From ClaimCare

    ClaimCare’s Patient Collection Tool Maximizes Patient Collections

    Posted by Carl Mays on Thu, Jul 23, 2009 @ 08:45 PM

    Tags: improving medical billing, patient collections

    Patient CollectionsA recent survey of 1,279 physician practices, medical billers and billing offices released June 15, 2009 by NaviNet Inc., found that 49% were unable to estimate the amount due at the time of care, other than predetermined co-pay.  As a result according to McKinsey & Co. doctors collect only about half of the balance due from patients and that this translates to $14 billion to $30 billion in bad debt annually.

    Collecting at the time of care is growing in importance as even insured patients are increasingly on the hook for an ever-larger share of costs. In 2008 the average patient deductible grew by approximately 10 percent. In 2009 the deductibles grew by 15 percent. This is a trend that physicians cannot ignore. They need a way to economically and reliable collect the money patients owe.

    The good news is that such a tool is available.  ClaimCare provides its clients with a patient collection tool that can attack the root of the problem - not knowing before the patient leaves the office how much the patients will owe for the service provided.  In addition, this tool provides enhanced payment options to collect the money owed.

    Our clients indicated that in many cases it has doubled or tripled their front desk collections. This patient collection tool can:

    1. Confirm the patient's eligibility coverage and benefits, including YTD out of pocket status before the patient is seen; 
    2. Provide accurate estimates of patient out-of-pocket expenses for specific services (your selected CPTs) against a provider's contracted rates for the particular plan;
    3. Generate a detailed, patient-friendly statement on the spot that shows the amount the patient will owe once the claim adjudicates; and
    4. Set up automated payment plan for patients that cannot afford the full amount due.

    This means that your office can know how much a patient should pay before they ever leave the office and collect the money when the value you have provided is fresh in the patient's mind.

    For the average practice, 20 percent of the money they are owed is due from patients. If you are currently leaving 50 percent uncollected (like most practices) then a tool like this can increase your practice's revenue by 10 percent.

    About ClaimCare Inc

    ClaimCare Medical Billing Services stands out from the crowd of medical billing companies. ClaimCare offers a complete medical billing solution, has the only service level guarantee in the industry, offers best-of-breed technology, an air tight medical billing process, actionable reporting and broad experience.   For more information contact ClaimCare Medical Billing Services by email at sales@claimcare.net , by phone at (877) 440-3044 or visit the ClaimCare Medical Billing Company website.  ###

    ClaimCare Introduces a Suite of Tools that Virtually Eliminate the need for Patient Billing

    Posted by Carl Mays on Sat, Dec 13, 2008 @ 03:00 AM

    Tags: medical billing, patient collections, patient billing

    Patient Billing

    ClaimCare Medical Billing Services introduces a suite of front-desk payment tools that drives down bad-debt, accelerate collection of patient balances and provides automatic insurance verification. ClaimCare's complete front-end solution starts working before the patient even arrives in your office by automatically verifying the patient's insurance information. Next, after the patient has seen the physician the tool provides you with a patient statement that shows exactly what the patient will owe for the services provided that day. This takes into account the patients co-insurance, deductible met for the year and the allowables from your payer contracts. With this feature the patient's full payment can be collected before they ever leave the office. Finally, if they cannot pay in full at the time of service then you can set them up on an automatic payment plan. Our system will debit the patient's checking account, debit card or credit card each month (or week) until the patient has paid in full.

    With this suite of tools patient billing is virtually eliminated. The patient leaves the office having paid the full balance for their service. Once the insurance has adjudicated the account is paid in full, with no need for sending a single patient statement.

    With the rising deductibles and growing co-insurance amounts it is critical to become more proactive with collecting patient balances. With this tool bad debt can be almost completely eliminated.

    About ClaimCare Inc

    ClaimCare Medical Billing Services stands out from the crowd of medical billing companies. ClaimCare offers a complete medical billing solution, has the only service level guarantee in the industry, offers best-of-breed technology, an air tight medical billing process, actionable reporting and broad experience.   For more information contact ClaimCare Medical Billing Services by email at sales@claimcare.net , by phone at (877) 440-3044 or visit the ClaimCare Medical Billing Company website.  ###

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