In today’s volatile healthcare market, one constant remains. You need revenue to achieve your goals and meet your commitments to the communities you serve. With fundamental changes underway in the marketplace, your patients are directly responsible for payment of a more significant portion of your revenue than they have been in the past.
Most healthcare providers have focused a great deal of time, effort and money to maximize the revenue from third-party payers. Unfortunately, these investments do not apply well to collecting high volumes of relatively low-balance amounts directly from healthcare consumers.
This challenge is compounded by regulatory issues, consumer protection laws, technology requirements, privacy concerns, and the negative perception of bill-collecting. So, many hospitals outsource the collection of patient accounts because it’s not a core competency of a typical healthcare organization. However, outsourcing collections entails operational costs and challenges including:
- Placement files
- Recalls (policies & procedures)
- Direct pays
- Hospital interaction
- Trust accounts
Collection outsourcing that pays by-the-piece, on a percentage basis or on contingency shifts activity to your vendor but the risks of performance stays with you. The best you can hope for is that your vendor’s activity adequately compensates you for your operational costs and for assuming risks such as:
- Loss of control of your patient accounts
- Third parties contacting your patients related to services that you provided
- Security of your patients’ data
- IRS Rule 501(r) compliance
C & E Acquisition Group changes the equation for you with our REVENUE 120 and REVENUE 365 programs by removing all the guess-work and guaranteeing compensation for your patient accounts.
We’ll pay you up-front to accelerate your cash and increase your financial return on your late-stage patient accounts by at least 10%. We’ll also help reduce your operational costs by streamlining the management of your patient accounts.