Part 2: Extracting Data for Effective Patient Collections

Streamlining Patient Collections: A Three-Step Guide to Managing Accounts Receivables

This three-part blog series explores how outsourcing patient responsibility collections to a collection agency equipped with advanced technology can optimize your practice. By leveraging technology to streamline account data, collection agencies can help improve your cash flow, reduce administrative burdens, and safeguard your practice’s financial health.

Learn three steps to identifying the problem and recovering balances using outside resources. This three-part blog series will discuss the 3 steps to improving patient AR.

• Part One – Identify Outstanding Patient Accounts Receivable. 
• Part Two – Extract Data. 
• Part Three – Recover through Patient Communication. 

Extracting Data for Effective Patient Collections

Once you’ve identified your outstanding patient accounts receivables (AR) (discussed in Part I here), the next step is to prepare the data for collections placement. This crucial phase lays the groundwork for recovering balances and improving your cash flow.

Data extraction may seem straightforward, but it can be challenging without the right tools, resources, or expertise. From ensuring data accuracy to navigating multiple billing systems, this process requires careful planning and execution.

In this section, we’ll explore how to extract the necessary data efficiently, the common hurdles practices face during this step, and how partnering with a healthcare technology company can streamline the process, giving you a clearer picture of your outstanding AR and setting the stage for successful collections.

I have identified Patient AR. How do I gather data needed for patient collections?

1. Create a list of accounts. Patient AR spreadsheets are a combination of multiple reports (see Part I). Using “Excel magic,” create a report of outstanding claims that are patient responsibility.
   
2. Add demographic information. Continue combining Excel, CSV, or SQL database reports to add other important detail. Addresses, phone numbers, date of birth, and other data is needed to communicate with patients about their balances.
   
3. Save documents to support. Supporting documentation on patient AR is important in the collection process. Documents may include the last statement sent, final demand letter, explanation of benefits (EOBs), communication logs, and more. Manually gathering data is time consuming!  Using robotic process automation (RPA) software, repetitive tasks can be automated, including saving statements as PDFs or exporting EOBs to a repository.  Optical Character Recognition (OCR) technology can be used to take system screenshots and pull readable data; for example, call logs regarding communicating to patients about what insurance covered on their claim and why there is a patient responsibility.  

Most information needed to create a list of accounts can be found using standard billing software reports and SQL database inquiries. Multiple reports can be combined through Excel to create a full list of outstanding patient AR. 

How can external resources help?

Don’t let past-due accounts hold your practice back. Beyond Green Solutions leverages advanced technology like RPAs, OCRs, and SQL database queries to efficiently extract and prepare your patient AR data. Our process saves your staff time and ensures you can start recovering balances sooner.

Take the first step toward improved cash flow and reduced administrative burdens. Contact Beyond Green Solutions today and let us help you streamline your collections process.

For more information, be sure to read part III of this series titled “Maximizing Patient Collections Without Compromising Care.”