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Early Out Self-Pay

Designed to contact patients early in the A/R cycle using a courteous and consultative approach to help patients find a way to pay their bill. We become an extension of our Client’s mission, vision, and values in all interactions with your employees and patients. During this process, we monitor metrics such as aging, payer mix, productivity, account status, and collection rates. This information is used to direct staff in areas of opportunity in order to maximize collection rates.

Schedule a quick 15-30 minute call with us for a free consultation to determine your healthcare organization’s needs!

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Enhancing Revenue through Excellence

Self Pay
Explore Wakefield’s Extended Business Office services for healthcare professionals, offering swift follow-up on self-pay balances, balances after insurance, and those post Medicare/Medicaid processing.
Our commitment extends from the initial placement to a comprehensive 120-day cycle. Utilizing advanced technologies, blended dialer campaigns, strategic pay plan management, and customizable statements, Wakefield ensures efficient inventory management, empowering your practice with streamlined processes for optimal financial outcomes.

Early Engagement: A Strategy for Success

Initiating contact with patients early in the A/R cycle is crucial. This proactive strategy not only helps in addressing Self Pay balances before they escalate but also reinforces the healthcare practice’s commitment to customer service. Adopting a courteous and consultative approach, we become an invaluable extension of our clients’ mission, embodying their vision and values in every interaction with patients and staff. This early engagement helps in streamlining the RCM system, enhancing both revenue generated and revenue optimization.

Monitoring Key Metrics for Optimized Performance

Our strategy emphasizes the importance of closely monitoring key metrics such as aging, payer mix, productivity, account status, and collection rates. This data-driven approach allows us to identify areas of opportunity and direct staff efforts towards maximizing collection rates.

The Role of Medical Services in Self-Pay & Customer Service

The quality of medical services provided plays a significant role in the Self Pay & Customer Service model. By ensuring that healthcare professionals are supported in treating patients with the utmost care, we reinforce the value of the services offered, encouraging timely and full payments.

Maximizing Revenue through Patient-Centric Strategies

Our consultative approach is designed to help patients find feasible ways to settle their bills, taking into consideration their financial situations and the complexities of high deductible health plans. This patient-centric strategy not only aids in revenue optimization but also builds trust and loyalty among patients, which is critical for the long-term success of any healthcare practice.

The Impact on Revenue Generated

By focusing on Self Pay & Customer Service, healthcare practices can see a significant impact on the revenue generated. This model not only improves collection rates but also ensures a steady flow of revenue by minimizing delays and reducing the rate of claim denials.

A Commitment to Excellence

Adopting a robust Self Pay & Customer Service strategy is essential in aiming to navigate the challenges healthcare providers face. By prioritizing early patient engagement and employing data-driven strategies, healthcare practices can achieve significant improvements in their financial performance and patient satisfaction. Our approach not only aligns with the mission and values of our clients but also sets a new standard in healthcare cost management and revenue optimization.

Our service includes

  • Patient Statements & Mailing
  • Patient Calling – Inbound and Outbound Calls
  • Dedicated Call Center
  • Sophisticated Workflows
  • Skip-tracing Technology
  • Insurance Discovery
  • Increased Collections
  • Excellent Customer Service
  • Dedicated Client Success Manager
  • In-depth Monthly Reporting
In the complex ecosystem of healthcare finance, the balance between maintaining optimal financial performance and managing healthcare costs is a constant challenge for providers. This delicate balance necessitates a strategic approach to Early Out and Self-Pay processes, a key component in managing the billing and collection cycles effectively while ensuring high-quality patient services. By adopting a model that prioritizes early patient engagement and a consultative approach with Wakefield, healthcare practices can significantly improve their financial health and patient satisfaction levels.

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The only stop healthcare providers need when managing their revenue cycle & collections operations.

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License: #CAD11669

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Compliance Manager Tyler Marsh: #CM12649

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