When patients are unable to pay, providers see an increase in self-pay receivables –
- 97% of hospitals reported an increase in self-pay receivables compared with the prior fiscal year.
When providers can’t collect, the result is uncompensated care
- $35.7 billion – The amount of uncompensated care hospitals provided in 2015 (AHA, Dec 2016, http://www.aha.org/content/15/uncompensatedcarefactsheet.pdf)
Registration errors and frequently changing insurance coverage contribute to an increase in self-pay receivables and bad debt:
- 20% error rate: Wastes an estimated $15.5B in claims that are never corrected and re-processed.
Find previously unidentified coverage to reduce bad debt
Experian Health’s Coverage Discovery® solution provides an efficient and trusted means for healthcare providers to reduce misclassified self-pay accounts. Our advanced self-pay engine maximizes the actionable coverage found for our customers across government and commercial payers, previously missed due to frequently changing insurances, data entry mistakes or patient misrepresentation to avoid high deductible health plans. The benefits to you:
- Make coverage identification more efficient
- Reduce number of accounts sent to collections & charity
- Maximize insurance reimbursement revenue
- Identify primary, secondary, & tertiary coverage
- Automate the self-pay scrubbing process
Attending HFMA ANI in Orlando? Don’t miss our June 26 session, “How to Find Missing Coverage,” at 4 pm. RSVP here.
What are our clients are saying about Coverage Discovery:
- [Video] Murry Ford, Grady Health System: “Coverage Discovery has brought in quite a bit of revenue for us—revenue that we would not have identified otherwise.”
- [Video] Mike Simms, Cone Health: “Since we’ve been using Coverage Discovery, we’ve received over $3 million in payments—more than a 300% ROI. It’s well worth every dollar spent.”
Here’s why Coverage Discovery is different:
- Flexibility: Multiple delivery options easily fit Coverage Discovery into your revenue cycle
- Time matters: Find coverage on-demand
- Powered by Experian: Billions of data assets improve account specific intelligence and maximize found coverage
- Relevant: Confidence Scoring reduces data noise and removes potential false-positives to ensure staff time is focused on actionable accounts
Uncover previously unidentified coverage with Coverage Discovery.