Due to rising healthcare and subsequently insurance costs, there have become an increasing number of patients who cannot afford health insurance. This is true of the employed population as well as the unemployed. Those who are fortunate enough to have 100% coverage, through their employers, are experiencing higher copays and deductibles. This has resulted in the patient being responsible for larger percentages of the healthcare provider’s revenue. Insured patients have joined the un-insured in accumulating bad debt at escalating rates. No longer are unpaid medical bills solely tied to patients with zero income. Unfortunately, most billing systems are not equipped to bill these patients in a focused and effective manner. Healthcare providers have been forced to seek innovative solutions to improve self-pay debt recovery. Outsourcing these patient accounts to MedCo is the perfect answer.

  MedCo’s team has developed the SPEED ( Self Pay Early Engagement Dunning ) program to specifically address these patients. SPEED is an attentive and patient friendly billing initiative to address the patient’s portion of your services. Once that amount is determined, MedCo’s SPEED program initiates the first statement and begins to monitor the recovery process. Failure to pay the full amount within 15 days triggers a personalized customer service campaign designed to supervise the account. Our “Telephone Recovery Specialists” identify insurance or claim discrepancies and make suitable patient payment arrangements.