As the cost of medical care continues to rise and families struggle to pay their monthly bills, more and more medical offices are finding themselves in the very difficult role of trying to collect on unpaid bills.  A recent study from the National Center of Health Statistics showed that 32.5% of persons under age 65 with private health insurance are enrolled in high deductible plans.  The shift towards greater patient financial responsibility has taken a firm hold and is likely to remain in place for the foreseeable future.

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Clearly, the healthcare market has changed.  Practices must align their revenue cycle management accordingly.  To meet the challenges of today’s reimbursement landscape, medical practices must re-examine their approaches to managing the patient collections process.  When attempts to collect fail, many medical practices turn to a third party collection agency for assistance.

Creditors’ Discount and Audit Company (CDA) has provided collection assistance to hundreds of clients in the healthcare industry since 1971.  They service medical clients big and small concentrating in Northern and Central Illinois.  They hold integrity, honesty, and fairness as the cornerstone of their business. They are passionate about their business and believe deeply in the value that they bring to their clients and to the economy.  Their goal is to treat each consumer with dignity and respect along with offering solutions that benefit both the consumer and the client.

CDA offer their clients:

  • Free A/R assessment conducted in your office
  • Free training seminars in your office
  • Hand-delivered checks
  • Regular business reviews
  • Client Services representatives
  • Customized reports
  • Cell phone number of the company’s owners
  • Monthly newsletters with collection tips
  • QUALITY ASSURANCE, COMPLIANCE and the LATEST TECHNOLOGY

CDA understands that your reputation is important. They will treat your patients with dignity and respect. Also, they protect your information along with the consumers’. Here are some of their best practices:

  • Follow the Fair Debt Collection Practices Act, Fair Credit Reporting Act, Consumer Financial Protection Bureau Guidelines, Telephone Consumer Protection Act, and all state and federal collection laws
  • On-line secured consumer payment portal
  • Disaster plan back-up
  • Secured electronic file-sharing (FTP)
  • Pre-collection bankruptcy and deceased scrubs
  • Skiptracing tools

CDA enjoys helping office managers and billing managers overcome their toughest challenges so they get paid faster and easier. But they also understand that you are walking a tightrope. You need to get paid, but you also don’t want ruin your image as caring medical professionals and risk alienating the very people you’re trying to serve.  CDA recommends to their clients that the collection process starts when the patient calls to make an appointment.  Staff needs to be properly trained to check for past balances, update demographic and insurance information, verify insurance coverage, provide estimates of services, and set the tone so the patient understands that they have a financial obligation on the day of service.

CDA possesses the experience and know how to advise their clients on the latest revenue cycle techniques that are simple to implement and work effectively so your practice can spend more time caring for patients than trying to collect from them.

Tony MuscatoFor more information, contact:
Tony Muscato
Vice President / Owner
Creditors’ Discount & Audit Company
PO Box 213
Streator, IL 61364
815-672-3176 x235 (office)
815-672-1914 (fax)
815-674-2807 (cell)
https://www.cdac.biz/