20/20 Revenue Maximization Partners

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ED Acute Coverage Found

  • ED Acute Coverage Found

A/R Recovery
$2.9 Million Lost Revenue Recovered

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Case Study Challenge:

The health system challenged 20/20 RMP to find additional revenue, thought to have been lost, after efforts by other firms had been exhausted. Patient had been contacted by phone, many of whom did not answer or respond. Time and resources were being used to individually dial and research each payer to determine insurance coverage. The result was an inefficient system that was netting minimal results.

Solution and Results:

20/20 RMP’s proprietary technology, does not limit scrubbing to self-pay classified accounts. The software scrubbed all accounts for incorrect and unknown coverages across all classifications. Result –  previously undiscovered revenue discovered post-discharge.

20/20 RMP discovered $2.9 million in additional annual revenue from 42,000 client discharges that were 120 days or greater.  Even after three other vendors were leveraged in prior processes.

Purpose:

The hectic pace of emergency rooms in acute care facilities make them especially vulnerable to missing or inaccurate insurance coverage during the registration/admission process.

This study highlights an affordable and successful post-service, last-in-line remedy of a large health system in Georgia that helped strengthen its financial performance.

By leveraging proprietary technology, 20/20 RMP was able to discover insurance coverage (commercial and government) for unpaid accounts of hospitals, clinics, physician groups, and more.

You can imagine how many outbound phone calls are unsuccessful, and hold times add up. For organizations with larger numbers of self-pay and underinsured patients, the costs to staff and supplement what 20/20 RMP finds does not make sense from an ROI perspective. In such cases, uncollected bills from self-pay patients and unknown secondary insurance are simply considered acceptable loss. 2020 RMP’s solution really helps with all of that. Additionally, using 20/20 RMP’s insurance discovery services, our organization has improved conversions. And clean lists have reduced the number of resources needed to load insurance and bill accounts.
VP of Revenue Cycle

Recover Lost Revenue

We assist clients, daily, with recovering lost revenue. If your healthcare organization is ready to seriously look at ways to improve its bottom line, then we are excited to begin a conversation. 

Click the button below and reach out today and discover how 20/20 Revenue Maximization Partners can assist in recovering previously lost revenue.

Reach Out Today!