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.
Most hospitals engage one or two agencies for primary contingency collections of patient bad debt. Secondary placements occur infrequently.
Unpaid self-pay accounts languish with contingency collection agencies indefinitely while most hospitals recover only 10% of patient bad debt.
80% of collections come from accounts placed with collection agencies within the past 60 days.
Contingency agencies only work on fresh files, so your older accounts lose value each day while your costs to support & monitor the agency and your accounts increase.
Collection agencies’ monthly liquidations are probably very consistent but the total amount of bad debt inventory they hold increases. Consequently, your yield on patient bad debt continuously shrinks.
So, it’s important to consider new, no-cost ways to boost your cash.
C&E Acquisition Group can boost your cash by acquiring your aged patient AR including insurance deductibles, co-pays, co-insurance, balances-after-insurance as well as pure self-pay accounts.
REVENUE 365 offers you two sources of new revenue:
Get an immediate boost to your bottom line from your Warehouse Inventory
We’ll go back as far as 7 years and put a valuation on your uncollected accounts. Although these assets are perishable, there is value in late-stage receivables. Our analysis will segment your inventory to show where the value lies. Our average REVENUE 365 client got an initial up-front payment of $650,000.
Get guaranteed recurring revenue from Forward Flow
Rather than letting the accounts lose value with the external agency, recall them at Day 365 and sell or lease them to us. Recalling year-old accounts allows your collection agency to focus on the most valuable assets and provides you —
- Recurring cash paid up-front each period
- Value through your entire revenue cycle
REVENUE 365 augments your current revenue cycle. Instead of disrupting your current operation and vendor relationships, REVENUE 365 simply picks-up where your existing revenue cycle process tails-off.
Contact us today for a no-cost, no-obligation valuation of your late-stage, low-balance patient accounts.