Collections Optimization Manager
Spending too much time and money collecting patient payments?
Client Video: Advocate Aurora Healthcare
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.
How Advocate Aurora Healthcare simplified the patient collections game
Collections Optimization Manager helped achieve double-digit increases in patient collections
Adopt a targeted collections strategy
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.
Control collection costs
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.
Monitor, benchmark, improve
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.
Learn more from Experian Health
Client Video: Sanford Health
Mike Beyer shares his experience using Experian Health's Collections Optimization Manager solution.
Client Video: University of Kansas Hospital
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
Altru Health System increases collections 100%+ by identifying accounts with a high propensity to pay