Doctor’s Dollars Hiding in Accounts Receivable
Hawthorn finds the bucks that physicians need now
The COVID-19 virus pandemic has produced dramatic increases in unemployment claims. Many of these newly unemployed or furloughed workers will lose their health care benefits.
Physicians should be asking some basic questions about the implications for this trend:
- How will the lack of employees’ health care benefits affect my practice?
- What steps can I take today to protect my revenue and my paycheck?
- How can I work my accounts receivable (A/R) to extract more revenue?
When patient traffic declines, physicians take a pay cut. Working unpaid claims in A/R offers a practical way to extract more revenue while waiting for the nation to return to normal.
Most physicians realize they have uncollected fees in A/R, with some unpaid claims sitting in aging buckets for 60, 90 and 120 days. The longer a claim goes unpaid, the less likely it is that it will ever get paid. How unlikely? You can expect to collect only 10 cents on every dollar that remains unpaid after 120 days.
- Hawthorn Physician Services is here to help. We can work your aging A/R and recover those dollars that your practice has abandoned.
- You need help now. Your A/R is a source of revenue that we can tap for the additional dollars you need during the pandemic.
- We have the staff and the experience to work your aging A/R. We do it every day for our other clients, and we can do it for you.
Our proven approach to A/R puts greater focus on aging claims. We work A/R daily, and we’re very good at converting charges to cash.
Exceptional Recovery is a promise of the Hawthorn Advantage. Put our team to work on your accounts receivable. We’ll find the dollars that you need now.
We are here to help boost your revenue. Click here to learn more about our services and what we can do for your practice.
About Hawthorn
Hawthorn Physician Services Corporation is a privately-held, nationally-recognized healthcare revenue cycle management firm located in St. Louis, MO and currently operating in all 50 states. Hawthorn serves hospital-based medical practices, including pathologists, anesthesiologists, radiologists, hospitalists, emergency physicians, and radiation oncologists, plus office-based specialties, including internists, cardiologists, endocrinologists, wound care specialists, and infectious-disease physicians.
