Our Healthcare Collections department frequently operates as an extension of your business office, as the next phase in the receivables cycle. When clients look to convert their non-performing receivables into revenue, they turn to us. From pre-collect projects and traditional debt collections to lien negotiation and insurance follow up, we can customize a strategy to meet any client’s needs. We can bring an immediate boost to an organization’s bottom line by providing additional cash flow from previously non-performing assets. By classifying accounts properly, we can determine the value of a portfolio and provide both the client and agency with a clear picture of the work necessary to liquidate it. Choosing an agency that specializes in healthcare receivables will ensure that all payment sources are exhausted to obtain the maximum recovery.
Healthcare Collections Case Study
A large-volume healthcare provider had $500,000 in unpaid receivables. The previous collection service was not performing, or communicating with the client. AMS was given the portfolio, cleaned up A/R, contacted all of the patients, consumers, attorneys and insurance carriers. AMS determined that a portion of the A/R had already been paid. AMS coded the accounts out properly and suppressed credit reporting. Several accounts remained unpaid due to Personal Injury attorneys not remitting on settled cases. AMS grouped accounts by attorney and made demands on said attorneys. This, in turn, generated revenue and helped liquidate the portfolio.
Another group of accounts was identified as the patient responsibility portion, balance after insurance, co-pays, deductibles and denials. Patients were contacted and payment resolution was made on several accounts in the form of payment plans, approved settlements and payment in full. Any unpaid accounts were credit reported after 60 days from assignment; follow up skip tracing, calls, and letters continued. Asset searches on large balance accounts were conducted.