How to Make Outstanding AR Work for You
Viewing a stack of unpaid claims and past due patient invoices can be deflating for most HME providers. This is especially true when the billing team tries everything to improve receivables, including sending letters to patients and changing the business model to collect payments before products are delivered, but nothing seems to work. This scenario is all too familiar for many HME businesses. Outstanding accounts receivable negatively affects the bottom line.
How can HMEs get reimbursed without damaging the patient relationship or cutting corners in other areas to offset costs and improve operations? Finding answers is a priority for providers as they struggle with declining reimbursements and profits.
In the July issue of HomeCare Magazine, Brightree’s Sunil Krishnan identifies solutions for HMEs to improve their collections process, including using technology and key metrics.