Dedicated and fully focused on healthcare - just like you
The financial side of healthcare can be confusing. Patients can be faced with a multitude of statements and EOBs for a single visit, making it hard to understand exactly how much is owed to what facility, doctor or other medical professional. This confusion is exasperated by a lack of healthcare literacy. A Policygenius study regarding healthcare literacy found that only 4% of Americans could correctly define the top four health insurance terms: deductible, coinsurance, co-pay and out-of-pocket maximum. Imagine receiving a call from a collection agency where healthcare is only part of what they do. There’s no guarantee their collector will understand these terms any better than the general public, which increases the confusion and frustration. This is why Americollect is 100% healthcare focused. Our clients are strictly in the healthcare field, which enables our staff to be trained as 100% healthcare focused collectors from day one.
Helping Your Patients Learn – and Pay
The health insurance landscape has changed drastically over the past several years. Gone are the days of small co-pays, simple bills and one policy for the family. Today the average patient is part of a family of four, potentially covered by two separate insurance companies – one through each spouse’s employer – and they most likely do not really know the difference between their deductible, coinsurance and co-pay. To top it off, that family most likely has a deductible of around $12,000, which is more than their house or car payments each year. All this taken together can delay or reduce their willingness to pay a medical bill without question.
Americollect Can Help
Knowledge is power, and the knowledgeable, highly trained healthcare collectors at Americollect are vital to the success of your organization. Our staff is able to utilize their healthcare focused training to simplify the complex healthcare bill your patients receive. They take the time to explain it from top to bottom; what the deductible is, how much the patient owes on that deductible, what their coinsurance is, and what their co-pay is.
Some patients do not pay their healthcare bill simply because they do not understand it. When someone takes the time to explain the bill in a way they can understand what they owe, they are more likely to pay. At Americollect, our collectors take the role of educating your patients on their medical bills very seriously. This is why we utilize the Certified Revenue Cycle Specialist certification process through the American Association of Health Care Management (AAHAM). We have staff members that have attained the AAHAM Certified Revenue Cycle Specialist (CRCS) designation, which means they are well versed in all areas of patient billing, including:
• Federal Regulations
• Medical Acronyms and Terms
• Patient Access
• Hospital and Clinic Billing
• Credit and Collections
This specialized training enables our staff to better explain the complexities and nuances of a patient’s healthcare bill.