Writing off bad debt doesn’t have to be your final answer.
Today, more medical claims are denied than ever before with nearly an 80% increase in the last few years. Hospitals and health systems face the decision to write-off tens of millions in bad debt every year, potentially leaving behind millions in recoverable cash. Health insurance claims that are too small, too old – or both – are left on the table, leaving accounts receivable teams to focus only on what seems the most likely to be recovered.
Chasing even a 90-day old account can seem like a big strain on resources with too little potential payback. And pursuing highly-aged accounts can typically be a very low priority. Having a robust accounts receivable strategy can help your hospital collect claims deemed “uncollectable.” The results – increased cash flow and decreased bad debt reserves caused by aging accounts.
How can you recover the cash that you thought was too old to catch? How can you collect every insurance dollar owed to you…whether it’s 100, 200 or even 300 days old? Download our whitepaper on highly-aged claim recovery and learn how writing off health insurance bad debt doesn’t have to be your final answer.