Medical emergencies can happen anytime. A patient or their family might not have enough cash at the time of emergencies to pay the hefty medical bills. Moreover, the current demanding work lifestyles have further put people at health risks. This translates to more hospital visits which
increases the medical expenses. Also, the current health insurance comes under the high-deductible health plans category. This puts the first payment responsibility on the patient claiming the insurance. This amount is generally a percentage of the health coverage taken by the patient. All these factors can put a financial strain on a patient and they could end up as defaulters on their medical bills. This might land them in trouble.
Medical Debt Collection
It is a process of collection of the debt owed by patients for medical services. Medical debt is the highest increasing debt in the United States. As per a study done by the Kaiser Family Foundation, 26 percent of patients are unable to pay their medical bills. Another study done by this foundation revealed that 25 percent of people had their medical expenses more than their savings. No doubt, debt recovery for the medical department has become a multi-billion dollar industry.
Recovering medical debt is a mammoth task. It cannot be executed without the help and support of professionals. Being in the medical industry, you won’t be able to run behind patients to collect their dues. Moreover, some patients ignore payment reminders and choose not to pay the due amount. Some other reasons for non-payment of medical dues include bankruptcy, death, miscommunication, non-transparency, etc. Reaching out to a patient can be overwhelming and should be done keeping his or her health situation in mind. Hiring a debt collection agency is the best choice that your hospital or medical provider can make.
There are many debt collection agencies that offer healthcare debt collection services also. Cedar Finances is one such company that has a strong network of vetted global healthcare collectors. This team is highly skilled, qualified and has more than 2 decades of debt collection experience. They don’t blindly go after a patient for extracting the medical dues. Instead, they work with the patients to create a debt repayment plan. This proactive approach enhances the patient experience and keeps the doctor-patient relationship intact.
Cedar Financial has a team of both local and international debt collection agents. These agents are trained in the Health Insurance Portability and Accountability Act of 1996. All the sensitive patient data is protected during any interaction with them. Moreover, this team has its network in more than 100 countries and is available 24X7 for any urgent support as well. You can learn more about their medical debt collection services by visiting their webpage.
increases the medical expenses. Also, the current health insurance comes under the high-deductible health plans category. This puts the first payment responsibility on the patient claiming the insurance. This amount is generally a percentage of the health coverage taken by the patient. All these factors can put a financial strain on a patient and they could end up as defaulters on their medical bills. This might land them in trouble.
Medical Debt Collection
It is a process of collection of the debt owed by patients for medical services. Medical debt is the highest increasing debt in the United States. As per a study done by the Kaiser Family Foundation, 26 percent of patients are unable to pay their medical bills. Another study done by this foundation revealed that 25 percent of people had their medical expenses more than their savings. No doubt, debt recovery for the medical department has become a multi-billion dollar industry.
Recovering medical debt is a mammoth task. It cannot be executed without the help and support of professionals. Being in the medical industry, you won’t be able to run behind patients to collect their dues. Moreover, some patients ignore payment reminders and choose not to pay the due amount. Some other reasons for non-payment of medical dues include bankruptcy, death, miscommunication, non-transparency, etc. Reaching out to a patient can be overwhelming and should be done keeping his or her health situation in mind. Hiring a debt collection agency is the best choice that your hospital or medical provider can make.
There are many debt collection agencies that offer healthcare debt collection services also. Cedar Finances is one such company that has a strong network of vetted global healthcare collectors. This team is highly skilled, qualified and has more than 2 decades of debt collection experience. They don’t blindly go after a patient for extracting the medical dues. Instead, they work with the patients to create a debt repayment plan. This proactive approach enhances the patient experience and keeps the doctor-patient relationship intact.
Cedar Financial has a team of both local and international debt collection agents. These agents are trained in the Health Insurance Portability and Accountability Act of 1996. All the sensitive patient data is protected during any interaction with them. Moreover, this team has its network in more than 100 countries and is available 24X7 for any urgent support as well. You can learn more about their medical debt collection services by visiting their webpage.
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