Accounts Receivable Outsourcing

Quickly converting accounts receivable to cash is crucial for financial stability. Healthcare providers have unique circumstances, in that they must pay for payroll, rent, and other expenses upfront, while waiting to get paid at a later date. Yet with every day that passes, the probability of collecting an outstanding balance decreases. The result? A tricky process to manage, with different payer timelines and processes. Medical practices can quickly become overwhelmed trying to keep up with accounts receivable management.

Why do so many healthcare organizations outsource their Accounts Receivable? Because...

Outsourcing your accounts receivable to professionals gives you access to well-honed systems and processes, leading to faster, more efficient collections.
The seamlessness that comes with having a dedicated accounts receivable team. When accounts receivable management is done in-house, collections can come to a stop when key staff are out sick or on vacation.
Outsourcing lowers the costs of recruiting, hiring, training, and managing specialized collections staff. Many practice owners don’t have the billing expertise to effectively manage billing staff... So why not let the pros handle it?
Outsourcing separates uncomfortable financial conversations from the practice team. Often, healthcare team members would rather be known as healers than collectors.
Getting behind on your accounts receivable? Looking for ways to get cash in the bank, sooner? Want to lower your practice’s overhead costs?

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