Innovation is always at the root of creating efficiency and effectiveness for you hospital’s bad debt recovery efforts. The old way of sending out recovery messages and letters without any sort of technical strategy is a way of the past. An updated approach must be implemented to both respect the patient as well as track the overall recovery efforts strategically.
Innovation is at the core of Emerald AR’s newly designed collection service and patient billing system. This modern approach looks to solve the task of respectful bad debt recovery that leverages data analytic insights for maximum effectiveness and profitability.
The healthcare industry is mainly comprised of collection agencies that employ a mainly out-of-date approach. These archaic methods are inefficient and, in some cases, unethical which have tainted the views on the healthcare billing industry as a whole.
For over a decade, Emerald AR has partnered up with many healthcare providers and hospitals maintaining a new, more modern approach. We have seperated from the pack of traditional collection agencies and have looked to blaze our own path in regard to bad debt recovery.
Attempting to recover bad debt from patients that weren’t able to pay their balance is easily one of the biggest obstacles for a hospital. This complicated healthcare collection task of uncompensated care only adds to the extreme financial burdens hospitals already face. The process needs to be updated and made more efficient.
When a patient comes to your facility and have an x-ray performed, the medical provider will then use the scan to diagnose and treat the patient. As a follow up, that same patient will later be sent a statement for the bill of service. This statement is very complicated and might even be from an organization they don’t recognize. This confusion can lead to a smaller likelihood of receiving their full payment.
It is your job to display the patient’s bill in a way that can be easily understood. This simplicity and improved formatting is important in educating them properly about what they owe and how they are able to make a payment. This uniform communication throughout the patient life cycle is crucial.
It would be nice to predict which one of your patients will pay. Paydar hasn’t been invented yet, but Emerald AR has designed a Gem Score to better understand your patients’ bad debt as well as your likelihood to recover that debt.
Click below for a Free Propensity-to-Pay Analysis!
Calls made to your current and past patients are an immediate reflection of your hospital and your hospital’s reputation. These recovery calls a part of a very delicate mission to collect on an outstanding balance. Here at Emerald AR, we understand this which is why we have fully incorporated this level of quality into our entire patient billing process and services. Our professionally trained representatives employ the highest standards of both customer service and professionalism. It is their job to handle communication with your patients in a way that best reflects your hospital.
Credit bureau reporting is an aspect that is often overlooked by many collection agencies. These financial documents are of the utmost importance as it pertains to patient billing and bad debt recovery. It lists everything relating to the patient’s credit history along with how they handle their credit. We look to enable our partners to opt in to this credit bureau reporting service to inform your hospital patients regarding further delays in payment that will result in the account balance being reported to the credit bureau.
In terms of efficiency, this service is one of the most valuable services offered by Emerald AR’s innovative system. This technology is designed to locate and recover revenue opportunities from Medicaid. By identifying the accounts that are eligible to be recovered through Medicaid, our system is able to return the billing details for processing. Your uncompensated care is decreased by implementing this fail-safe billing process.
Post-visit Medicaid eligibility permits healthcare providers to maximize the hospital bad debt recovery by locating patients that are eligible for Medicaid. It takes into account the filing time limits and is designed to abide by all compliance restrictions. Remember, it is illegal in many US states for Medicaid providers to bill patients for medical treatment that is covered by Medicaid.
For one FQHC client, Emerald AR found over $250k in unbilled Medicaid and that was only in the first 90 days.
Find out how much Medicaid money your hospital is missing out on. Click the button below for a Free Medicaid Eligibility Scan!
Collection letters have to be designed as clear, concise, and correct. Emerald AR’s debt recovery letters are a means of communication with your patients that have to remain compliant, but also patient friendly. Emerald takes advantage of a simple yet effective format to help patients easily understand the collection letters they receive. By writing these statements in clear language, this allows a patient to understand why they received the statement and has a clear direction for how they can pay of their balance. It even gives them the option to go online and pay their bill, pay through the mail, or call by phone.
It can be nearly impossible to obtain up-to-date contact information without a modern skip tracing system. This can cause a friction point and really hinder the bad debt recovery process in the healthcare field. If you try to contact that has inaccurate information, you’re efforts are both wasted and lost in the quest to collect on a patient balance.
When Emerald AR attempts a call that results in a disconnected number or receives a returned notice, our workflow management engine is designed to trigger our advanced skip tracing service to return the most up-to-date phone number for eligible accounts. Emerald then updates the customer’s records and continues with the collection process.
Working with attorneys, estate trustees, and having to follow up on a patient’s Medicaid eligibility can be exhausting. That is why we want to help save you as much time and effort as possible to focus on your day-to-day responsibilities. Emerald offers additional services to decrease your bad debt obligations.
Our system delivers a full-service bankruptcy solution that accuratly and timely files claims to improve the recovery rate of bad debt and decrease operational costs of wasted collection efforts.
The probate service offered by Emerald AR empowers hospitals to proactively recognize deceased accounts, find probated estates, and effectively file claims.
