Medical professionals are burnt out from the unpaid, non-medical services they provide.
Unpaid services are usually clerical duties that aren’t recognized as billable hours but are vital to your revenue. Denied claims and debt collection efforts, for example, take up hours that professionals aren’t reimbursed for.
Many healthcare providers think there’s no solution to the endless headache that is dealing with the business side of practice. Yet there is something you can do to lighten the load.
If you want to reclaim your time with patients, here’s how health care loans can help.
Don’t Argue with Insurance Providers about Denied Claims
You can fight the insurance company on denied claims, but they always win since they have the leverage. You sign a contract promising to agree with their reimbursement plan, which means insurance can refuse to pay and you can’t do anything about it.
For insurance companies, the benefit of refusing to pay is often greater than the cost. For you, however, denied claims take up valuable time that could be spent caring for patients.
Arguing with insurance providers is clearly a dead end. Luckily, health care loans can help you reduce unrecognized services in another way.
Use Health Care Loans to Cut Back Debt Collection Efforts
The medical billing cycle can often take several months to complete. Even though much of that time is spent managing denied claims, even more time is spent collecting on unclaimed patient debts.
You can offload statement and payment processing, avoid feeling like a debt collector and create more time for patient care with health care loans. That’s because medical financing programs like Epic River’s connect patients with loan specialists while you’re paid upfront and in full.
With Epic River’s patient lending program, all patients are approved for loans. Best of all, you won’t have to play doctor and debt collector because patients make payments directly to their loan provider of choice.
If you’re sick of not getting paid for all the extra services you provide, maybe it’s time to change the way your patients pay for care.