Self-Pay Solutions Focusing on the Patient Experience
Service provided by Convergent Revenue Cycle Management, Inc.
Convergent CARE’s Self Pay program combines the latest predictive dialing technology and advanced healthcare scoring models with a team of self pay collection experts to provide a cost-effective solution for managing self pay receivables. By using Convergent, a provider can enhance communications with the patient, avoid costly collections referrals, and improve patient satisfaction. Convergent has demonstrated the ability to significantly accelerate cash flow while decreasing inbound phone calls to hospital staff.
Self pay accounts typically represent between 5 and 15 percent of a hospital’s accounts receivable and are on the rise. Yet few hospitals have the scale and skills to manage their self pay accounts cost effectively, while providing the high quality customer service demanded in today’s competitive healthcare marketplace.
The Convergent Solution
Our dedicated teams, trained on your protocols, use advanced healthcare scoring models, IVR call routing and predictive dialing to maximize effectiveness and efficiency. Calls are recorded and monitored to ensure communications with patients meet the highest professional standards. To maximize recovery, we use bank loan programs and financial assistance. We also work to uncover insurance that was unknown at the time of placement.
The Bottom Line
For ongoing programs, Convergent can double cash collections, achieving 30 to 40 percent liquidity for cash receipts and 35 to 55 percent liquidity for payments and adjustments. For clean up programs, Convergent achieves 30 percent liquidity for cash receipts and another 40 percent for payments and adjustments. Specific results vary by population demographics.