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Search keyword: hospital collections prioritization
Collection Prioritization
Identify the patient accounts that are most likely to pay
TransUnion Healthcare Collection Prioritization solution ranks aged self-pay accounts by ability and likelihood of payment.
On average, our collections solution identifies the top 30% of accounts that will generate 80% of cash collections.
On average, our collections solution identifies the top 30% of accounts that will generate 80% of cash collections.
Benefits of Collection Prioritization:
- Increase cash collections
- Improve workflow and allocate billing staff resources more efficiently
- Decrease bad debt and cost-to-collect
- Reduce days in accounts receivable
Improve your health care collections processes with minimal changes to your existing systems.
- Step 1:
- A batch extract report of all open self-pay accounts is created in your patient accounting system.
- Step 2:
- File is sent through secure FTP to TransUnion Healthcare for analysis.
- Step 3:
- TransUnion Healthcare provides a Recovery Score on each account and healthcare-specific characteristics, such as Federal Poverty Level (FPL) percentage, that empirically indicate the likelihood of collecting on each account.
- Step 4:
- Prioritized results are generally delivered within 24 hours of submission.
Easily integrate TransUnion Healthcare Collection Prioritization into your existing back-end processes.
Similar Solutions
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Why smarter front-end revenue cycle processes matter:
According to a U.S. Department of Commerce study of depreciation of accounts held in house, accounts at 90 days reach a critical depreciation period of 0.5 percent per day. At 120 days, the ability to collect drops significantly, and by 180 days, the ability to collect plummets to less than 30 percent.
Optimize your collections with TransUnion Healthcare point of service solutions, including:
Optimize your collections with TransUnion Healthcare point of service solutions, including:
