Stay ahead efficiently: top US healthcare provider experiences 15% boost in collection recovery

$584,340
in incremental cash over 4 months
$2.63 million
extra collections income over 16 months
Stay ahead efficiently: top US healthcare provider experiences 15% boost in collection recovery
Case study

Background

Premier Health is an acute care health system serving Southwest Ohio.

Premier generates over $2 billion annually from 1,951 beds in five acute care hospitals. As exemplified by their multiple Press Gainey Beacon of Excellence awards, Premier Health delivers clinical excellence with a focus on patient satisfaction.

Business challenge

Recent trends indicate that the cost of healthcare continues to shift from employers and insurance companies to patients themselves. Because the financial recovery rate from individual patients is lower than from insurance carriers, growing patient balances are causing financial pressures for many hospitals.

Firstsource solution

Introduced proprietary scoring and segmentation system

In an effort to tightly coordinate and automate the balance collection process, the IT departments from Firstsource and Premier collaborated to build a highly efficient infrastructure. Employees from both organizations would use a dedicated VPN tunnel and TLS encrypted access in order to assign accounts to work queues using custom Epic billing indicators. Premier Health’s Epic system would interact daily with MedAssist’s account processing system which utilizes a proprietary scoring and segmentation model; this system would assign a ‘propensity to pay’ score to each account and indicate the appropriate work events accordingly.

Optimised customer touchpoints

Work events, such as statements, letters, attended calls, unattended calls, etc., are the best practices necessary to resolve each type of account and are derived from analyses of years of production and operation experience.

Trained our people to meet custom needs

In 2014, Premier Health initiated The Premier Patient Experience Program, which trained employees on patient satisfaction practices using the “Acknowledge, Introduce, Determine, Explain and Thank” (AIDET) methodology. As an example of true partnership and dedication to the Premier patient experience, all Firstsource team members must complete this training and continue to participate in the quarterly booster training. Firstsource has even adopted the AIDET model as required training for all patient account representatives.

Business impact

Firstsource accelerated the account resolution process, reduced bad debt and the number of patients reaching bad debt, and maintained the high level of patient satisfaction Premier patients have come to expect.

$584,340
in incremental cash over 4 months
$2.63 million
extra collections income over 16 months

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Firstsource is a leading provider of customised Business Process Management (BPM) services. We specialise in helping clients stay ahead of the curve through transformational solutions in order to reimagine business processes and deliver increased efficiency, deeper insights and superior outcomes.

We are trusted brand custodians and long-term partners to 100+ leading brands with presence in the US, UK, Philippines and India. Our ‘rightshore’ delivery model offers solutions covering complete customer lifecycle across Healthcare, Telecommunications & Media and Banking, Financial Services & Insurance verticals.

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