Important Ways to Collect your Accounts Receivable

There are a lot of methods to collect your account receivables, in this blog we are going to discuss about what are the major methods to collect your account receivables from your patients as well as insurance companies.

  1. Purge your old data
The first thing you need to know about is that you have to keenly watch on your old patients and their pending bills which amounts to millions of accounts receivables. So because of this you don’t have to look into  your very first patient but you have to look into your last year patients pending account receivables so that get some money out of it which obviously means more people.
  1. Collect from recurring patients
The second major thing is to take a look into the various pending accounts receivables from your current patient’s record. Yes you might think that this is not going to be useful for you but the much you have the much you get.one way of saying is patients health development in one hand and your hospital development in the other hand. This will be very useful to you.

Follow this simple plan:

  1. You have to type in your payment process in your official note pad and post in your front desk area. So that patients will be able to know what are the methods to pay to you
  2. You have to follow stringent instructions in your office regarding payment follow up
  3. You have to make sure that your front desk executive does not make any phone calls and sending messages without your notice.
  4. In those communications, inform patients with outstanding balances that they will be expected to relinquish payment as soon as they arrive.
  5. You have to make sure that your front office executive speaks in a more polite way than ever before to your patients regarding pending account receivables.
 
  1. Run a recent trend analysis
    1. The most important and precise thing which you have to do is to have a trend follow-up on who are all the patients coming to your hospitals and going to your hospitals, so that you have a trend setting way.
    2. This will help you how to decide what more you have to spend on advertising and promotions regarding your concern.
    3. Which will be more meaningful that ever?
 
  1. Hit it in the fore head.
    1. When you are speaking with your patients and while taking any more useful information such as their name, along with other personal details make sure you get the right one from them.
    2. Hit them in the fore head with your tool so called speech, make them understand your personal situation as well as your financial situation so that you get better details and better follow up.
    3. Don’t interrogate your patient if he is not properly paying your bills. Be calm let them understand your background.
Don’t fed up with your efforts and results, because no pain no gain.