Unique method converts in house payment plants to cashflow:

How Hospitals are Improving Profitability Without Sacrificing Patient Experience

Intentions to provide the most affordable care for patients are customary at providers across the nation. However, the added burden to revenue cycle executives, business office managers, and collections staff is heavy.

Everyone wants to maximize self-pay after insurance and full self-pay collections. But, at what cost – added FTE’s, increasing cost to collect, and negative KPI benchmarks (A/R days, cash/liquidity, and bad debt)?

Or perhaps, you’re in process or recently implemented a new EMR system? Legacy system patient accounts receivable remain there until they are reconciled. Staff is now tasked with the headache of efficiently managing two sets of data that don't speak to one another.

Let’s break down the problem:

  • Patients are on the hook for a larger portion of collection
  • Providers attempt to provide internal payment plans to pay over time
  • Management of internal payment plans is costly and inefficient
  • A/R days increase, cash is being delayed, and accounts are going to bad debt further down the road than needed
  • Legacy system patient accounts receivable become more tedious with a new EMR

Heading into 2020 an innovative solution is available that will fund and manage your existing patient account receivables or legacy accounts. It converts the day-to-day billing, collecting and patient communications for existing patient accounts into immediate cash for the provider.

Imagine one day, you’re managing and collecting hundreds or thousands of patient accounts in your EMR or legacy system. The next day, those accounts are funded and accounts are brought to zero.

Your facility now has an immediate influx of cash, A/R days are dropping, and staff can appropriate more time to the daily functions of your business office. This conversion method means a clean slate to change your payment policy approach, or tweak it to become more manageable.

Request more information below for an estimate on exactly how much of a payout you can expect to receive for your outstanding patient payment plan portfolio.

THE PROCESS

01

Step One

Patient accounts receivable portfolio is analyzed to determine funding

02

Step Two

Provider receives cash (ACH) for patient accounts receivable and reduces account management days

03

Step Three

Funded accounts are zeroed out in provider's internal system and become part of the program

INCREASE LIQUIDITY & STAFF EFFICIENCY

  • Instant ACH funding for your existing portfolio

    Zero patient accounts on your books and replace them with reduced A/R hours and a clean slate

  • Even stronger patient experience

    Patients easily access a 0% interest account online that honor the same monthly payment as your facility

Request Your ACH Payout Estimate

Complete the form below to get an estimate of the payout your hospital can expect to receive.

!
!

Something went wrong. Please check your entries and try again.

PROGRAM FEEDBACK

What those who've taken advantage of the program have to say.

Spectrum-Health-Lakeland

"We can give patients a new solution depending on their ability to pay. The interest-free loan for the first 12 months is a good incentive for them to pay it off quicker."

Deborah Piggott - DIRECTOR OF REVENUE CYCLE
Tahoe-Forest-Health-System

“We were really looking for a good option for our patient payment plans that didn’t involve us having to manage them internally. We also wanted to make sure that it was really fair for patients.”

Victoria Morgan - DIRECTOR OF REVENUE CYCLE
Improve profitability without sacrificing patient experience

Cash in your payment plans and get out of the business of banking

ajax-loader