Collections: The Legal Issues
September 20th, 2006
Collecting money from patients who are past due in payment for medical services is a perplexing issue for most physicians. It is not only frustrating to have to allocate more practice resources to obtain what is rightfully owed for services already performed, but also many physicians are not sure what is permissible under the law. The industry average for small physician practices is around 4% of revenue is spent on collections. For larger entities or hospitals, the average can be as high as 12-15%. However, if collections are managed effectively, it can significantly increase revenue. The key is to understand the applicable laws and develop policies accordingly.
Collections: The Legal Issues (PDF)
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