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Medical Receivables

Medical receivables are the amounts owed by third-party payers to healthcare providers. The party owing the money can be commercial insurance companies, HMOs, Medicare and Medicaid, or patients (if there is an outstanding balance after insurance or another payer has paid its portion).

Medical receivables are usually payable 60 to 120 days after service is rendered, though some reimbursements lag further behind, creating cash flow issues for healthcare providers, who typically need to pay expenses in a shorter time frame.

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The 3 Big Factors That Make Patient Self-Pay a Headache for Providers

According to Healthcare Finance News, more than half of provider bills don’t get paid. And for every dollar billed to patients, providers have historically failed to collect 65 cents. Providers are experts at managing insurance reimbursement, but collecting self-pay dollars is a different story. With the average annual deductible for covered workers increasing 255% since […]

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Executive Changes: Ontario Systems Hires Two Top Healthcare Revenue Cycle Experts

MUNCIE, Ind. – Ontario Systems, a leading accounts receivable management (ARM) and healthcare revenue cycle management (RCM) technology and services provider, has hired two industry leaders in healthcare RCM, Shawn Yates and Mike Mullins. Continuing its growth from 2015, Ontario brings in new healthcare talent to continue building the most robust RCM team for the […]

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New ProPublica Article Criticizes Debt Collection Litigation on Medical Accounts; Paints One Firm as Outlier

As part of an ongoing investigation, Propublica published a lengthy article by Paul Kiel titled For Nebraska’s Poor, Get Sick and Get Sued. The article discusses the practice of use of litigation to collect delinquent healthcare accounts in the State of Nebraska. It is clear that Mr. Kiel spent a considerable amount of time researching the story before publication. The story is less than flattering to the debt collection industry.

business-of-healthcare

Hollis Cobb Associates Acquires Healthcare Financial Services

NORCROSS, Ga. – Hollis Cobb Associates announces its acquisition of Healthcare Financial Services, located in Jackson, Mississippi.  This represents Hollis Cobb’s fifth acquisition in the past three years as they continue their national leadership as outsourcers of the revenue cycles within the healthcare provider market. This acquisition is significant as it represents the largest deal […]

Senators Introduce Medical Debt Relief Act to Address Medical Debt on Credit Reports

Late last week Senators Jeff Merkley (D-OR), Dick Durbin (D-IL), Richard Blumenthal (D-CT), Bob Menendez (D-NJ), and Chuck Schumer (D-NY) introduced the Medical Debt Relief Act. The legislation would prevent medical debt from damage consumers’ credit scores after it has been paid off or settled. They argue that, as opposed to credit card debt or loans […]

Kaulkin Ginsberg Offers Executive Summary on the Healthcare Market

The series provides accounts receivable management business owners with an in-depth analysis of the healthcare industry. As the whitepaper makes clear, healthcare is a very diverse sector; however, most ARM companies only focus their efforts on hospitals – the largest segment of the healthcare industry. The end result is often a lot of money on the table — opportunities that could be very lucrative, especially for operations looking to diversify and avoid concentration risk.

The Intelitech Group Updates Analytics Offering for Agencies Collecting Medical Debt

Camas, Wash. - The Intelitech Group™, a premiere analytics provider and consulting practice in the ARM industry, announced today it has updated its analytics offering in medical accounts receivable.  This update assists agencies that use The Intelitech Group’s premiere analytics services when collecting medical debt, by providing improved accuracy in knowing the ability and willingness of account holders to […]

LiveVox Discusses Approaches to Optimizing Patient Engagement Strategies in a Changing Insurance Landscape

LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join operations experts from IHMS, in partnership with the Healthcare Financial Management Association (HFMA), to provide insights into the top insurance enrollment challenges moving into 2016 and innovative approaches to adapting existing resource to optimize patient engagement and […]