Healthcare is extremely complex. Patients are often confused by the multitude of facility and professional statements and EOBs that they receive. So much so, that a recent Policy Genius 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. Unlike other agencies, we do not collect for credit cards, utilities or any other businesses outside of healthcare. This enables our staff to be 100% trained as healthcare collectors from day one.
If you consider that the average patient is part of a family of four, potentially covered by two separate insurance companies, one through each spouse’s employer, and that the family most likely does not truly understand the difference between their deductible, coinsurance and co-pay, their willingness to pay a medical bill without questions is delayed or reduced. On top of that, a family of four most likely has a deductible of around $12,000 which is more than their house or car payments in a year. That is a lot of money for these families.
Americollect’s trained healthcare collectors are vital to the success of your organization. Our staff utilize their healthcare training to simplify the complexity of your patient’s healthcare bill by explaining what a deductible is, how much the patient owes on that deductible, what their coinsurance is, and what their co-pay is. Some patients will not pay their healthcare bill simply because they do not understand it. The patient is more likely to pay when they have someone take the time to explain the bill so that they can truly understand why they owe what they owe.
Americollect takes the role of educating patients on their medical bills very seriously, which is why we utilize the Certified Revenue Cycle Specialist certification through the American Association of Health Care Management (AAHAM). Americollect has staff members whom are certified as CRCS’s meaning they have working knowledge in all areas of patient billing including: Federal Regulations, Acronyms and Terms, Patient Access, Hospital and Clinic Billing, and Credit and Collections. This training enables our staff to explain the complexities of a patient’s healthcare bill.
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