No more patient free lunches. CRT Medical Systems’ PAR service is now available.
I’m sure you remember when you were 10 years old and your friend forgot his lunch money. You trustingly lent him money expecting to be repaid promptly only to realize that you had to ask him for repayment. In fact, sometimes you had to pester the borrower until you downright embarrassed him before you were repaid. You were eventually repaid, but realized the relationship would never be the same.
Fast-forward a few decades and that lesson is as relevant as ever.
Human nature hasn’t changed. Add an uncertain economy and stress to the equation and it is simply easier for a lot of people to ignore challenging situations, particularly those involving financial stress. It is definitely something we can all relate to. We all want to do the right thing, and sometimes a small nudge is all we need to help us – this is particularly true when it comes to patient A/R.
Your patients really want to do the right thing, but the right thing can be very confusing. Patients are mystified by HMOs, PPOs or other insurance carrier decisions and constant coverage changes.
In 2010 alone providers wrote off over $65 billion in bad patient debt.*
This is a result of healthcare reform, rising patient responsibility and the increase of consumer directed health care (CDH). On the other hand claims processing costs payers an estimated $15-20 billion annually.† These two dynamics account for a substantial portion of the total revenues flowing through the US healthcare system every year.
The bottom line:
Practices need to adopt a patient friendly process and with fewer payment processing delays. Practices will also have to implement more patient-friendly information than ever before. Even so, at best, practices should be prepared to devote at least twice the amount of time with patient A/R as they are currently spending on claims with insurance payers.
While this may sound like a daunting task with the looming mandatory requirements for meaningful use and transitions to 5010 by 2012, CRT Medical Systems can help ease the pressure you’re feeling. We have helped practices like yours succeed for over 30 years.
CRT developed PAR to help you manage patient confusion and delinquent accounts. It’s a new service that employs expert patient management. CRT is capable of dealing with delinquent patients in an intimate and caring manner. Our experts have the personal skills to empathize with the patient as well as intimate knowledge of their medical file. There are no gray areas regarding patient responsibility and no hard feelings because the patient felt pressured into paying.
Our experts know the medical billing services industry inside-out, so they can definitely eliminate the confusion and mystery your patients experience by constant changes in their insurance coverage. You could say that these patients have been waiting for the right answers so they could do the right thing. Some have even been waiting as long as five years. As a matter of fact, since CRT has implemented the PAR program we have settled receivables from over 5 years ago and have a success rate of over 90%.
PAR has been a homerun for practices that have signed on with CRT Medical Systems.
Give us a call @ 248.679.1700 to see what we can do to minimize your patient A/R.
We guarantee the days of patients eating your lunch are over.
CRT Medical is the largest medical billing company in Michigan. It is also one of the oldest, having flourished in the industry for over 30 years.