Receivable Management

We help optimize your billing and collections process, reducing outstanding balances and increasing cash flow.

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  • 24 +

    Years of experience

  • 5 M+

    Claims Submitted & Paid

  • 98 %

    First Pass Rate

Are you struggling to get your payments on time?

In the US, uncollectable patient balances pose a significant challenge for healthcare providers. A report by Definitive Healthcare revealed that in 2018, US healthcare providers accumulated $38.3 billion in bad debt. In many cases, hospitals report bad debt as the difference between the amount billed to patients and the actual payments received, even if they never anticipated receiving the full amount.

We believe every business deserves the reward for its hard work. Sometimes, challenges arise in the process, but that’s where we step in. With our expertise, we ensure that your payments are collected promptly and efficiently, allowing you to focus on what matters most.

Effective Payment Collection Strategies of Pinnacle RCM

1 Upfront Payments: Encouraging payment during scheduling and check-ins, ensuring co-pays and patient responsibilities are covered early.

2 Flexible Payment Options: Offering payment plans keeping in mind patient's financial situation, making payments convenient and manageable.

3 Financial Assistance: Providing access to state programs or Care Credit to support patients needing financial help.

4 Automated Payment Processing: Integrating automated credit card processing with intake paperwork to streamline payment collection.

5 Patient Reminders: Sending regular patient statements and balance reminder calls to keep payments on track, either weekly or monthly based on practice needs.

6 Pre-Collection Efforts: Utilizing pre-collection agency reminders and notices, offering discounts for full payment to maximize collection before further action is needed.

Frequently Asked Questions (FAQs)

1. How does effective accounts receivable management enhance cash flow?

  • Timely and efficient management of billing processes minimizes delays and ensures prompt payments. We focus on sending reminders for overdue amounts and diligently tracking payments until they are settled, optimizing cash inflow for your practice.

2. What distinguishes your accounts receivable solutions from others?

  • Our approach emphasizes collaboration, ensuring that the interests of both healthcare providers and patients are considered. We prioritize timely payments for services while also being sensitive to patients' circumstances, bringing out a solutions that benefit all parties involved.

3. What is your process for managing overdue payments?

  • Our skilled team specializes in follow-ups with clients, addressing overdue accounts with understanding and professionalism. We focus on clear communication to explain the situation while working towards a resolution.

4. Can your solutions seamlessly integrate with our current financial systems?

  • Absolutely. We guarantee a smooth integration process that won’t disrupt your operations. The only noticeable change will be the enhanced efficiency, timely payments, and improved overall quality of your accounts receivable management.