Following criticism that hospitals' debt collection tactics were too harsh, many hospitals are taking a different approach when it comes to getting patients to pay their bills. Instead of aggressively pursuing debtors, hospitals are making an effort to work with patients to pay off their bills. Doing this actually makes better business sense for hospitals. "Companies that emphasize more empathetic and patient-friendly collections processes, invest in collector-training programs and integrate legal compliance efforts thoroughly with collection operations turn regulatory compliance into a competitive advantage and are most likely to succeed in this market over time," said the report by the Kaulkin Ginsberg firm of Bethesda, MD. In addition to rethinking debt collection, hospitals are also taking a closer look at the root causes of unpaid bills in order to determine what can be done to avoid the issue entirely.
For more on hospital debt collection:
- read this report