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Collecting Accounts Receivables

Written by Judith Kautz

The basic message here is simple. The longer an account goes unpaid, the more difficult it becomes to collect.

However, there are two different types of accounts that historically take longer to collect. Accounts that are owed by the state or federal government usually take 60-90 days to pay. Medical accounts will vary depending on the type of insurance the patient has. You may want to wait or call to check the status of the account before deciding on further activity. It is important to note that unless it is a worker's compensation claim, most all other insurance companies have an agreement between the client and the insurance company, not the patient and the doctor. Client/patients should be making payment arrangements on their medical/dental accounts whether insurance pays or not.

Collecting accounts receivable efficiently

Written by By David H. Glusman, CPA.
Wednesday, 10 May 2006 00:00
One of the most challenging issues facing the back office of any medical practice is the efficient use of personnel in the collection of accounts receivable. On a normal day, an office may see anywhere between 25 and 75 patients per physician. At the same time, there are hundreds, if not thousands, of outstanding accounts receivable that must be continually monitored for optimum collection. Most practices would consider collecting accounts receivable more efficiently to be one of their priorities. So how does a practice go about doing this? One of the first issues that should be addressed is the evaluation of the amount of time spent by the staff on accounts receivable collections. It is important to ensure that the A/R staff is spending their time as effectively and efficiently as possible. In order to do this, it is necessary to empower the staff with the appropriate tools.
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