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ServicesPrivate Pay Collections: PHG will collect on patient balances, whatever the age of the account. Private pay is often a difficult and sensitive area of collections for healthcare providers, since they tend to form close bonds with patients through the course of providing their services. PHG can provide creative ways for private pay patients to settle accounts, thus limiting any potential patient relations issues for the provider. Accepting checks and credit card payments via the phone or 24/7 web access, or arranging a third party lender are just a few of the ways PHG is able to maintain an exceptional collections rate for private pay accounts. Account Receivable Clean Up: PHG helps providers with their active accounts, usually aged over 180 days from service date. We will also work on special projects designated by the providers to help reduce their Days Sales Outstanding (DSO) and increase cash flow. Special project clean up allows providers to have their staff focus on current A/R while PHG handles older, more difficult accounts. Bad Debt Write Off: Focusing on commercial, Blue Cross and private pay balances, PHG will work on accounts that have been deemed uncollectible by healthcare providers and written off their books. At no cost to the provider other than contingency collection fees, these accounts generate an additional revenue stream that adds monthly income to the provider's bottom line. Receivables Financing: This service allows us to purchase and/or fund your accounts receivable either through a direct purchase or with our cost effective and efficient solutions for Self-pay, Balance-after- Insurance and Patient Payment Plans. Studies confirm that medical debt is typically the last bill(s) that will get paid. What we do is convert these balances into bank debt in order to move it up the payment ladder. With the increasing number of uninsured rising these services provide an inexpensive benefit for your patients. Our programs will:
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