With rising costs in today’s medical practice, it’s becoming more important than ever to receive timely payments from patients. With the high costs associated with printing and mailing statements, and lingering late and missing patient payments, it’s enough to send the medical office budget into deficit. Though collecting insurance company payments is the lifeblood of all medical facilities, out-of-pocket patient expenses such as deductibles, copays, and coinsurance amounts can’t be dismissed. They can add up quickly in lost revenue if stricter collection procedures aren’t in place.
