As more patients take responsibility for more of their healthcare costs, hospitals bear the significant financial burden of writing-off costs for those patients who didn’t pay their share.
It’s important to know the Actual Cash Value of your aged self-pay AR so you can objectively consider how to get the best return on these assets.
Let’s discuss doing a valuation of your aged self-pay accounts including insurance deductibles, co-pays, co-insurance, balances-after-insurance as well as uninsured self-pay accounts.
No doctor would prescribe a course of treatment without first diagnosing the issue. We take a similar approach to working with you.
Our process for acquiring your healthcare receivables includes the steps required to fully assess your particular situation and recommend a mutually beneficial approach. By following our proven FDCPA, HIPAA and CFPB certified process you’ll boost your bottom line, get recurring revenue, and foster goodwill in your community.
Analyze Your Existing Operations
We’ll work with you to understand your current operations. The key components of your assessment include a profile of your organization, your intake process, billing operations, internal collections and external collections. Understanding these areas of your operation enables us to dig into the data.
We use our proprietary process to complete a quantitative analysis of your late-stage, non-performing patient accounts. This includes scoring of patient accounts, evaluating demographic information, and comparing the patient population against its historical performance to understand your portfolio of accounts. This helps us recommend a solution to fit your situation and goals.
Increase the Value of Your Late-Stage Patient Accounts
We take the results of the quantitative analysis and compare them to your historical performance to arrive at a valuation of your portfolio of accounts. In most instances, we can guarantee a 20 to 50 percent increase in the value of your late-stage patient accounts with payment made upfront to you.
We sometimes make special arrangements tailored to specific situations. These include leasing, revenue sharing or joint servicing. The key to success of any engagement is that you decide the standard of performance.
Provide Ongoing Support
A typical engagement provides ongoing support and offers recurring compensation to you. As receivables age each month, we’ll take responsibility for them, compensating you for your inventory of accounts. This forward flow arrangement enables you to secure an additional revenue stream that is both predictable and consistent.