Self-Pay Collections
Streamline the collections process and improve cash flow
TransUnion Healthcare’s solution combines our industry-leading insurance discovery and patient financial clearance capabilities to increase collections on self-pay and balance-after-insurance accounts.
Our complete, self-pay collections solution identifies accounts that will pay — from patient and payer — which in turn improves cash flow and overall collections yield. It only requires one data input file and is able to:
Increase reimbursement by identifying commercial, Medicare and/or Medicaid eligibility on self-pay accounts missed during patient access
Reduce fraud and returned mail expenses by verifying patient contact information
Assist with 501(r) reporting requirements by identifying which self-pay accounts can be segmented for collections vs. presumptively qualified for charity care
Reduce bad debt by determining charity care from bad debt based on estimated percent of Federal Poverty Level (FPL)
Determine a patient’s likelihood of payment with propensity to pay
Reduce overall vendor contingency fees by keeping more accounts in-house
45% of Americans said they'd have a difficult time paying an unexpected $500 medical bill*
19% of Americans said they wouldn't be able to pay an unexpected $500 medical bill at all*
30% of self-pay accounts will generate over 80% of cash collected**
*According to Kaiser Health Tracking Poll in 2017
**TransUnion Healthcare Proprietary Data
Related Products For Healthcare Self-Pay Collections
-
Medicare Cost Reporting
Increase Medicare reimbursements, automate complex processes and recover more revenue -
Insurance Discovery
Identify hard-to-find health insurance coverage to maximize reimbursements -
Payment Integrity
Identify Medicare underpayments and streamline reimbursement processes to maximize earned revenue -
Accounts Receivable Recovery and Denial Management
Bill and collect from all insurance payers to maximize reimbursements
How Prospect Medical Holdings Eased Their Revenue Cycle Growing Pains
Data and Disruptors: Three Companies Harnessing the Positive Power of Data During Transformative Times
Utilize SDOH Data for Better Insights, Better Health Outcomes
Healthcare Consumerism and Price Transparency Expectations Remain Important
