Medical Debt Collections: Discover a Better Way to Handle Self-Pay
EDIinsight® Eligibility Discovery Solution automates the detection of insurance coverage on unpaid, self-pay accounts for medical debt collectors.
For medical debt collection agencies and billing companies engaged in bad debt collections, EDIinsight® Eligibility Discovery Solution represents a welcome alternative to the laborious and largely unsuccessful methodology traditionally employed when seeking to collect from individuals. Rather than continuing to attempt to collect these past-due funds via letters and calls, why not take the path of least resistance?
In many cases insurance coverage did exist for the individual at the time of service; however, for a myriad of reasons it was not submitted properly or not at all. EDIinsight Eligibility Discovery Solution automates the search of payer databases for patient benefits/plan coverage via EDIinsight technology. This alternate approach is not just easier, but tends to produce better results, as the likelihood of collecting funds from a payer is far greater than from an individual.
Previously, self-pay collection was a losing proposition, consuming numerous man-hours with little return. But, your company had to accept the accounts or risk souring the relationship with provider customers. Now, you have a new tactic that means more money for you and your customers, as well as fewer dunning calls to former patients.
The Four-Step Eligibility Discovery Process
- Provide basic patient information (Name, DoB, SSN)
- Initiate automated search of top 10 payers in service area
- Search immediately stops when coverage is located
- Coverage information returned to medical debt collector for billing
Eligibility Discovery Solution Benefits
- Replace a monthly loss with recurring revenue
- Leverage a new, less difficult, more lucrative tactic
- Deliver found-money to appreciative provider customers
- Decrease write-offs as a result of failed self-pay collection efforts
- Noteworthy results lead to more provider business
- Redeploy FTEs previously dedicated to collections calls, correspondence
- EDS may be private labeled
- See an immediate return on your investment