Why are collection policies critical in Epic Resolute PB?

Collection policies are vital within Epic Resolute Professional Billing (PB) because they lay out the procedures necessary for maximizing revenue recovery. These policies establish the frameworks for how the billing office will handle accounts receivable, including processes for following up on unpaid claims, pursuing collections, and managing patient billing inquiries.

Effective collection policies contribute directly to a practice's financial health by ensuring that revenue is collected in a timely manner. They often include specific strategies for engaging with patients regarding outstanding bills, establishing payment plans, and addressing denials or underpayments from insurance companies. By having clear procedures in place, practices can enhance their efficiency in recovering owed amounts and reduce the time spent on collections, ultimately leading to improved cash flow.

While collection policies may indirectly affect aspects related to service delivery or compliance with regulations, the primary focus is on revenue recovery. This underscores their importance in the context of a billing office, where managing financial transactions and ensuring that the practice gets paid for its services is critical to its sustainability.