When early out is not early enough

Founder and CEO, Joe Uptain

​In the not so distant past, healthcare providers realized that attempting to collect Self Pay dollars closer to the date of service date yielded better returns. Patients were more inclined to pay for a recent encounter than to be faced with medical bills months after the service was provided. Memories of the encounter were fresher and there were fewer questions to be satisfied before the bill was paid. Providers realized giant improvements as Early Out companies collected Self Pay dollars earlier and with a better net return.

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In the not so distant past, healthcare providers realized that attempting to collect Self Pay dollars closer to the date of service date yielded better returns. Patients were more inclined to pay for a recent encounter than to be faced with medical bills months after the service was provided. Memories of the encounter were fresher and there were fewer questions to be satisfied before the bill was paid. Providers realized giant improvements as Early Out companies collected Self Pay dollars earlier and with a better net return.
 
​Today more than ever, providers are working hard to identify Self Pay dollars and to focus on Point of Service collections. A NEW TREND is to incorporate PreServices as a way to collect Self Pay dollars BEFORE the patient arrives.

Payer schedules and available estimation tools allow providers to communicate the patient’s financial obligation expected at time of service. Typically occurring during the registration process,Pre-Services can be as basic as a courtesy call to remind patients of their appointment and financial obligation at time of service. On the other hand, Pre-Services can be as advanced as complete pre-registration with estimated charges collected before the patient arrives for their scheduled procedure. 

​In both examples, Self Pay dollars are collected BEFORE time of service, minimizing the amount of Self Pay dollars to be collected later. Added benefits are increased patient satisfaction by decreasing on-site check-in times, and increased physician satisfaction due to decreased interruptions in scheduling.
 
For more information on how  can help you increase Self Pay collections, please contact us at 1.844.528.4338, sales@medcoservices.com (mailto:sales@medcoservices.com) , or visit us as www.medcoservices.com.