Medical Economics August 16, 2023
Use these to develop a strategic approach to profitably manage and effectively resolve low-dollar accounts receivables.
If a primary care practice is avoiding management of low-dollar accounts receivables (AR), the first question to ask is: Why? Yes, the volume is higher – often much higher – than “normal” AR, and, as the name implies, the dollar value for each account is low. Cumulatively though, there is tremendous value in effectively managing and resolving these balances. Our data shows that up to 80% of open hospital insurance accounts fall under the low-dollar designation and account for as much as 15% percent of outstanding revenue. When it comes to physician groups, all AR is inherently low dollar, so developing an effective work...
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