OUTSOURCING YOUR EARLY-OUT SELF-PAY ACCOUNTS
OUR PRE-COLLECT SERVICE REDUCES YOUR DAYS IN A/R AND DRAMATICALLY INCREASES YOUR OVERALL COLLECTION EFFORTS BY LOWERING YOUR COST AND LIMITING YOUR BACKEND EXPOSURE TO HIGHER COLLECTION RATES.
As patients have become responsible for larger portions of their health care bills, due to high-deductible and high co-pay plans, it is extremely important to utilize a collection program that provides a high level of customer service and uses a tone that is encouraging and supportive of your patients. This service represents the first line of pro-active defense for your billing department and will dramatically improve the rate of return for your entire A/R.
A lot of health care organizations have become overwhelmed by these self-pay patient accounts due to limited resources and space available to them. It is simply more profitable for these organizations to use the space they have to increase or improve the core services they offer. PayNetRx, a division of Simon's Agency, Inc., solves this problem by providing a patient-centered extension of your organization that increases the recovery rate on self-pay accounts at a fraction of the cost to your organization. Our goal is to move your A/R upfront faster while reducing your backend exposure to higher collection rates. This will save your organization money while allowing it to re-purpose its manpower back to core competencies.
Our off-site patient account representatives work your accounts as third-party agents who are educated and versed in the health care services your organization provides. The entire PayNetRx team works as a billing office and extension of your organization by providing a full 120 day program that encompasses the mailing of letters, placement of calls to your patients and an incoming call team that can handle patient inquiries with the goal of receiving payment, in full, for self-pay accounts and residual balances after insurance.
This program will increase the amount of accounts that are paid-in-full during this pre-collect process and will effectively reduce the number of accounts that will be placed into collections afterwards. For the convenience of the organizations PayNetRx works with, accounts that go beyond this window can easily be transferred over to the Simon's Agency collections division or to the third-party agency of your choice.
While Simon's Agency's debt collection philosophy already emphasizes treating your patients with the dignity and respect they deserve, our PayNetRx account representatives operate as a completely separate call center and receive even more specialized training emphasizing the sensitive nature and care required in working with patient accounts during the pre-collect window. Our representatives provide the highest level of customer service while complying with all federal, state and local regulations as well as industry best practices.
PayNetRx's Early-Out Self-Pay Services Include:
- SECURE & EASY FILE PLACEMENT | PayNetRx offers safe and easy transmission of your files through our online portal.
- HIGH VOLUME CALL TEAM | PayNetRx utilizes the latest technology to conduct outgoing calls to every patient and puts a human on the phone for every inbound call received.
- A/R MANAGEMENT | Facilitation for all patient accounts and administration of client approved payment plans.
- LETTER SERVICE | Printing, mailing and monitoring of up to four reminder letters for each and every patient.
- PAYMENT PROCESSING | Check and credit card payment processing through a dedicated lock box and secure online payment portal.
- AUTOMATIC TRANSITION OF DEBT | Easy transition of unresolved pre-collection debts to traditional collections service provided by PayNetRx’s sister company, Simon's Agency.
- INSURANCE | During follow-up with patients, when insurance information is uncovered or provided, the patient account is referred back to the client for follow-up.
PayNetRx is a Division of Simon's Agency, Inc.
PayNetRx is a leader in A/R management and self-pay billing services. Our mission is to encourage patients to pay their medical bills in a timely fashion and facilitate proper communication on behalf of their chosen healthcare providers.