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Issues

Similar to most busy healthcare systems, Cooper University Hospital (Cooper) struggled to collect fully on third-party claims. Overwhelmed with current accounts, staff had little time to continue working accounts as they were denied and continued to age. What effort they were able to put into aged accounts had minimal impact as staff also had little time to keep abreast of state-specific protocols for adjudicating claims. With a policy of writing off claims over 180 days old, the hospital was seeing…
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Answers

Convergent made the transition to outsourcing seamless for Cooper. A quick manual load of the initial accounts allowed collection efforts to begin at once and quickly generate financial results. “With Convergent’s 20-plus years of experience and expertise in this line of service, we saw significant results in the first 45 days of the program,” says John Bucci, Director of Patient Financial Services for the hospital.

Next, Convergent established an automated interface to make it simple for…
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Outcomes

From the start of the engagement, Convergent has exceeded Cooper’s expectations for reducing receivables and accelerating cash flow on accounts that would otherwise be written off. The average age of the accounts assigned to Convergent is 309 days, with an average balance of approximately $5,000. Convergent collects over 25% on these accounts each month; the industry average is approximately 17% and Cooper’s prior collection rate on these accounts was less than 5%. “As a partner, Convergent…
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