Technology comes to the rescue for all those phone calls in the form of a “predictive dialer.” This software program, in tandem with your practice-management system, can automatically dial a long list of patients owing past-due balances. When the system detects a live response (as opposed to a recording), it switches the call to a live biller on duty. “Billers spend less time dialing numbers and more time talking to patients,” says Keegan.
The average medical practice uses a collection agency, but for better results, hire two. Divide up past-due accounts between them alphabetically — A through K for one, and L through Z for the other — and watch them compete. “We’ve used two agencies for about a year, and we’re seeing higher collections,” says Beth McGinnis at the Iowa Clinic. “They know we’re comparing their performance.”
Keegan also likes doubling up on collection agencies. “It gives you more leverage in negotiating contracts with them,” she says.
Dual collection agencies is one more trick of the trade for medical practices that dare not take a passive approach toward collections. And new tricks will emerge as the health-care industry continues to evolve, says Keegan.
“You have to stay on top of all the changes — changes with payers, changes with technology, changes with regulations,” she says. “You can’t sit still.”
Robert Lowes is an award-winning journalist based in St. Louis who has covered the healthcare industry for 20 years. He can be reached via editor@physicianspractice.com.
This article originally appeared in the November 2008 issue of Physicians Practice.
