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A more patient-friendly approach to hospital bills
Healthcare Strategist Trend Watch, March 31, 2006
Is your healthcare organization considering a patient financing program? Proponents say the move is a quick way to improve the revenue cycle, increase successful collections, and is more patient-friendly than sending delinquent accounts to a collection agency.
"Sending unpaid accounts to a collection agency is often at odds with a hospital's mission of treating people well," says Mitch Patridge, CEO of the San Diego, CA-based CSI Financial Services. "Yet there is a dire need for hospitals and other healthcare providers to collect a higher percentage of patient obligations in a way that will not compromise patient satisfaction."
A successful program reaches the maximum number of patients, is easy for patients to use, and is easy for the hospital to administer. And hospitals should look for a financing partner that is aware of and willing to help with the public relations component of patient financing. For more information about patient financing programs, visit CSI's Web site at www.csifinancial.com.
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