Everyone knows that some businesses are better at self-pay collection, but how much better? The findings of a new study suggest a surprising discrepancy: the best collectors are as much as 300 percent better than the worst ones.
The new study, from Connance, shows that the potential for improvement is large, with the worst self-pay collectors standing to gain only about 2 percent of their total net revenue.
And lest you think that the difference in collection was just a result of the office or network's mix of patients, Connance took steps to normalize the numbers to make the comparison fair.
To learn more about the study:
- read this Connance press release