What degree of improvement do healthcare providers seek when deciding to outsource collections to a third-party? Providers typically outsource the collection process to contain costs, improve efficiency and leverage the expertise of collection professionals. The best collection agencies invest in the latest technologies and specialize in healthcare collections. In addition, highly trained staff operate as an extension of the healthcare provider’s accounting department.

• Twice as many ARM organizations are considering Virtual Debt Negotiation
• Nearly 50% plan to adopt of Interactive Voice Response (IVR)
• Compliance still top concern, but priorities have shifted

Phoenix, Ariz. – May 4, 2016 BillingTree® has released the 4^th annual ARM Industry Operations, Technology & Payments report which outlines the challenges and opportunities collection agencies face in meeting their business objectives. The report, based on shared data from a representative sample of over 200 agencies...

How do you measure the success of your partnership with a healthcare provider? Of course, increased recovery and improved collection rates represent primary metrics. But, what other important capabilities enhance the partnership?

By PYMNTS Posted on April 29, 2016

For healthcare providers, installing a pain-free payment processing solution is in the best interest of their business, but also helps them to stay on the good side of their patients as well. According to a recent study from Availity, the ability of healthcare providers to collect from their patients during or before the service is delivered plays a key role in their overall financial performance.

The forecast for mobile payments in 2016 is more growth, with reports suggesting nearly one in five users will use their smartphone for payments sometime this year. If your business hasn’t already implemented a mobile payment processing strategy, it’s time to consider it. According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210 percent in 2016.

As the nation’s healthcare system increases in complexity, so does collecting customer payments. But it must remain a top priority as it contributes to the overall cash flow and profitability of your organization. Providing complete payment services and solutions for healthcare providers is a critical and necessary function to your practice. BillingTree has a number of different offering to ensure your organization stays on top of patient payments and overall efficiency.

Choosing payment solutions is an important decision to help streamline your organization’s payment needs. Consider asking a few questions to make sure whatever partner you choose will be a good fit. Take note of the company’s reputation and ongoing customer service commitments. What are the fees or one-time set-up costs? And finally, get an idea of the time it will take to get everything set up.

Unpaid patient accounts cripple a healthcare organization’s bottom line. To improve their financial situation, providers often turn to third-party agencies to realize specific benefits. In an outsourcing relationship with a healthcare provider, healthcare collection agencies must ensure they deliver real value, including:

Today, the healthcare industry faces numerous challenges, including a changing patient, payer and regulatory environment. In light of these dynamics, third-party agencies must work diligently with healthcare providers to improve collection performance. How should you establish and manage the relationship with your healthcare provider client?