Collections Optimization Manager enabled Advocate Aurora Healthcare to compare internal collections performance with the performance of outside agencies. The Collections team could now reduce 20 agencies to only four agencies that had the best performance. Each year, Advocate Aurora Healthcare has achieved double-digit increases in patient collections.
Pursuing all past due accounts isn’t realistic—but neither is writing them all off, or paying high fees to collection agencies.
Some patients have the ability to pay, some don’t. Some are willing to pay, some aren’t. Collections Optimization Manager helps you identify “who’s who” using in-depth data and advanced analytics so you can focus staff resources where they make the most sense.
Scoring and segmenting patient accounts based on who has the propensity to pay—and directing them to the in-house or outsourced team most likely to collect—is a productive collections strategy. Collections Optimization Manager directs appropriate resources according to each patient’s specific financial situation, so you’re able to collect more.
Routing accounts to the optimal collections resources, and using collection agencies judiciously, minimizes collection costs. This approach, part of Experian Health’s collections solution, assures you stay focused on patients who can and will pay, and lets you keep control over important patient-facing processes.
Collections Optimization Manager continuously monitors changes in patients’ ability to pay to help you increase recovery rates significantly. Centralized reporting and benchmarking tools provide the analytical insights you to optimize and improve your collections processes.
Mike Beyer shares his experience using Experian Health's Collections Optimization Manager solution.
Marvin Mickelson shares his experience and success using Experian Health's Collections Optimization Manager solution.
Sanford Health increases patient collections and improves patient satisfaction with a hybrid approach
Altru Health System increases collections 100%+ by identifying accounts with a high propensity to pay
From October 2017 to May 2018, Martin Health increased their receivables by more than $4 million