By Joanne Finnegan @ Fierce Healthcare
While physician practices must maximize patient collections to stay financially healthy, more than 75% wait more than 90 days to turn overdue bills over to a collection agency.
In a poll conducted by the Medical Group Management Association (MGMA), 43% of 1,043 respondents said they wait more than 91 to 120 days following service before turning an account over to outside collections, and another 32% wait more than 120 days. Some 7% indicated they never turn over an account to collections. Only 2% take action after 60 days, and 16% take action between 60-90 days.
Read the entire article: Fierce Healthcare