For the poll, MGMA asked more than 1,000 healthcare professionals how long they wait before sending a patient account to collections. The poll took place April 9.
In the poll, 43 percent of respondents indicated their organizations waited 91 to 120 days before sending an account to collections, while 32 percent indicated their organizations waited more than 120 days. Only 16 percent of respondents indicated their organizations waited 60 to 90 days, and only 2 percent indicated their organizations waited less than 60 days. Seven percent of respondents said their organization never turned an account to collections.
More articles on healthcare finance:
11 health systems with strong finances
$1M infusion allows California hospital to avoid closure — for now
Cleveland Clinic creates venture arm to maximize results of spinoff companies
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.