All of us struggle with collecting from insurance companies. It’s not a new issue, but these two solutions are speeding up accounts receivable cash flow for our clients and we’d like to share them with you.
The first is called Talking Statements. Talking Statements are automated phone calls made in your office’s name. The calls go to the patient asking for their assistance in resolving the unpaid claim. The patient is notified that the insurance company has been billed as a courtesy, but payment has not been received. If there’s no answer, a message is left including the phone number for the insurance company. If the call is answered, the patient can connect directly with the insurance company with the press of one button. That’s right! Your office staff no longer has to spend hours on the phone tracking down payment with insurance companies.
If payment is still due once the Talking Statements are completed, a series of 5 written demands are generated and sent to the insurance companies. The first demand is a diplomatic reminder and includes the 30 day right to dispute clause required by the FDCPA. What’s unique about these demands, though, is that demands 2 through 5 each refer to the relevant state-specific prompt pay statute. Not only is the insurance company being contacted by a third party, they are being reminded of their duty under the law to pay claims in a timely manner. As an example, insurance companies in California may be reminded with the following clause:
To date, we have not received any correspondence to resolve your overdue account with ABC Client regarding the claim listed below. Note that failure to resolve insurance claims in a timely manner may be in violation of California State Statute Health & Safety Code §1371 et seq.
Interested in saving time? Interested in speeding up your cash flow with customers and insurance companies alike? Drop us a line here and we will answer your lingering doubts!