Patient Account Scoring (or Collectability Scoring) is a process different from the well-known FICO scores used by credit bureaus. It is a collectability score specific to healthcare to help hospitals and medical providers predict a patient’s propensity to pay – or “likelihood of paying” – a medical bill.
Breakthroughs in information technology are improving work-flow in many different fields, and the healthcare industry is not falling behind. Innovative technological advancements have brought about more efficient ways of collecting payments from patients while reducing the healthcare billing industry’s environmental impact by lessening its paper dependence. Two such developments that are being employed in medical collections are personalized URLs and virtual negotiator software.