Tag: Keith Lilek
Receivables management: Hand over your bad debt
December 22, 2015Keith Lilek
A. Have you ever thought about what happens to your accounts once you assign them to a collection agency or attorney? The action taken by third-party collectors on your behalf presents an interesting and complex set of variables.First, keep in mind that when unpaid patient accounts have been assigned, the patients have been given every opportunity to voluntarily resolve their debt.Third-party collectors, whose phone collection fees average 35% to 50%, only get paid if they get cash payment, so they...
Receivables management: Capture payment
November 25, 2015Keith Lilek
A. Because of competitive pressures insurance companies have been extending their payment period. Because the provider has no contractual relationship with the payer, there is no great urgency for payers to take care of the obligation, and the provider has no legal basis to fall back on. This puts the provider in a precarious situation that affects cash flow and patient relations. If the payer does not take care of the claim, the account ages and the chance of collecting from the patient is greatly...
Receivables management: Stop the slow pay
October 22, 2015Keith Lilek
A. Slow payments by third-party payers can pose a serious threat to your cash flow and require intensive and costly staff resources for follow up. In light of all the recent changes to the stability of the healthcare industry, ensuring these claims are paid in a timely manner will improve cash flow, reduce staff follow-up and secure the financial success of your business.Consider thinking outside the box on your follow up. One easy method is to consider modifying your approach to include collection...
Receivables management: Offer choices, not credit
September 25, 2015Keith Lilek
A. Ensuring your patients come up with payments when their bills are due is becoming more difficult than ever before. With 76% of Americans living from paycheck to paycheck, and 62% of Americans unable to find even $500 to pay for an unexpected expense, it's little wonder that providers are not getting paid. Providers can reduce the number of patients going to collections with some careful considerations.Offer choices Offering a choice of payment can often make the difference between getting...
A/R Allegiance tackles billing
June 19, 2015Liz Beaulieu, Editor
OVERLAND PARK, Kan. - A/R Allegiance has added medical billing to its portfolio of services in a move that Keith Lilek says repositions the company as a one-stop shop for revenue cycle management.ARA, which is best known for its patient collections services, has been providing medical billing services to providers outside of the HME industry for a number of years, but this month it made those services official, adding them to its re-launched website.“Any possible services that are available...
ARA tackles billing
June 12, 2015Liz Beaulieu, Editor
OVERLAND PARK, Kan. - A/R Allegiance has added medical billing to its portfolio of services in a move that Keith Lilek says repositions the company as a one-stop shop for revenue cycle management.ARA, which is best known for its patient collections services, has been providing medical billing services to providers outside of the HME industry for a number of years, but this month it made those services official, adding them to its re-launched website.“Any possible services that are available...
Deal 'heightens awareness' of patient-pay potential
January 31, 2014Liz Beaulieu, Editor
YARMOUTH, Maine - What does Brightree's acquisition of Strategic AR mean for other patient-pay companies in the HME industry?Patientco and A/R Allegiance also stand to benefit from the deal, they say.“On a macro level, it's validation that what we're doing is valuable and necessary,” said Kurt Lovell, COO of Patientco. “Nothing proves that better than when the mother ship of software vendors buys you or one of your competitors.”Partnerships or agreements among software...