Low Balance Accounts
The Perfect Solution For a High Volume of Low Balance Insurance Claims
Service provided by Convergent Revenue Cycle Management, Inc.
Low balance claims are typically underworked because business office resources are directed toward more lucrative account balances. Convergent can work low balance accounts cost effectively by using customized systems and processes designed to manage high volumes of claims with low balances. By aggressively pursuing third-party payers on low balance accounts, hospitals are able to increase cash, reduce write-offs, and demonstrate to their payer community that every segment of their AR is worked comprehensively.
About 80 percent of accounts typically represent only 20 percent of a hospital’s accounts receivable. These high volume, low balance accounts are a significant financial opportunity in aggregate, but too often working them thoroughly is not possible because of staffing limitations.
The Convergent Solution
With more than 600 employees and a dedicated Low Balance Claim Resolution Department with tools and processes specifically designed to work high volumes of accounts, Convergent has the capacity to resolve accounts cost effectively. With Convergent focusing on low balance claims, hospitals can redeploy staff to concentrate on higher balance accounts and increase cash flow.
The Bottom Line
With a Convergent Low Balance program, hospitals can realize significant improvement in reimbursement on low dollar accounts, use their existing staff on higher value claims, and improve service to patients.