It has been a recurring theme for providers over the last few years: High deductible and cost-sharing health plans leave providers with both the literal and figurative bill. The old danger for providers were patients with no insurance but now that (nearly) everyone is covered by a plan under the Affordable Care Act, the pains are coming from patients whose plans have sky high patient responsibility.
Now, providers are having to spend their time trying to get patients to pay their bills instead of being able to focus on actually treating patients. Even large medical companies with national operations are facing the problem. Quest Diagnostics Inc., the lab-testing giant, said 20 percent of services billed to patients in the third quarter of this year went unpaid, costing the company about $80 million in lost revenue.
There are ways to help your practice avoid lost revenue from unpaid patient statements and to help you as a provider get back to focusing on treatment instead of being a debt collector. Contact us today at inquiries@lincolnrs.com to see how LRS can improve your patient collections processes.
Read more at: https://www.bloomberg.com/news/articles/2018-11-15/doctors-are-fed-up-with-being-turned-into-debt-collectors