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Improve Your Financial Health
By Optimizing Patient Receivables
Payments from uninsured patients are often the most difficult, time-consuming and expensive to collect. Worse, that consumer debt represents an increasing percentage of your total accounts receivable.
How much could a higher return on private pay accounts improve your bottom line?
We can help you find out. Solutia Revenue Recovery accelerates recoveries and increases total patient payments for healthcare providers—all while reducing your cost per dollar collected.
Our Services
- Customized Private-Pay Recovery Program
- Inventory Cleanup and Computer Conversion Support
- Attorney Direct Program
- Bad Debt Collections
We excel at collecting consumer debt at all phases of the revenue cycle. You benefit in many ways:
- Increase your cash flow
- Provide predictable cash flow
- Reduce days outstanding
- Decrease bad debt
- Free up your team to focus on collecting third-party payer accounts
Whether you select one, two, or all of our services, we design and implement an account program to meet your specific goals and requirements. Each program follows your direction on calling techniques and collection philosophies. As a result, we become a seamless extension of your staff.
Account Management Provides More Help
Patients making monthly payments to your hospital actually drive up operating costs and lower revenue by interrupting your business office staff to answer questions, resolve problems, and pursue late payments. As part of our other services, you can contract with Solutia Revenue Recovery to take over that responsibility. With our professional team focused on account management, your efficiency and effectiveness improves.
- Customized statements
- Contact within 72 hours of missed payment due date
- Call-center scripts that mirror hospital payment policies
- Patient-friendly call-center staff responds to consumer questions
Superior Results
Our proven experience and expertise in healthcare enable us to deliver exceptional value.
Solutia Revenue Recovery specializes in serving healthcare providers. From hospitals and clinics to medical practices and ambulatory surgery centers, we have worked with hundreds of providers to maximize their recoveries.
- For a Chicago hospital, collected $1.7 million and resolved $2.4 million in claims, representing more than 90 percent of the total, in 90 days
- Recovered more than $8 million for a neurosurgery group, with a significant portion of the debt overdue by more than 360 days
Since 1963, we have built a successful track record by investing in our people, through customized training, advanced technology and proprietary processes. Our approach creates loyalty, with experienced recovery specialists averaging nearly 10 years with us. It also drives superior performance: Our recovery team uses proven people skills and persistence to recover more money, faster.
Solutia Revenue Recovery focuses not just on delivering the best results but also on providing the best customer service. Our proprietary customer logging system, for example, accelerates client requests to key managers as well as to the staff assigned to the client.
Customized Private-Pay Recovery Program
By working with Solutia, you can prevent unpaid patient bills from becoming bad debt. You recover your money faster, allowing you to put it to good use sooner. At the same time, we enhance your relationship with self-pay patients by providing quick problem resolution and individualized attention.
- Resolve accounts quickly through respectful and frequent communication
- Search for insurance on large dollar accounts
- Reduce agency fees up to 70%
- Help patients apply for government coverage if eligible
Inventory Cleanup and Computer Conversion Support
Staff turnover, failed payer negotiations and/or a computer conversion can cause a temporary increase in days outstanding and bad debts. During those tough times, Solutia Revenue Recovery provides additional support to secure payments and improve cash flow.
- Seamless integration with hospital resources
- Effective third-party account resolution by trained receivable specialists
- Immediate improvement in your troubled payer classes
- Quick cash recoveries to reduce AR days and bad debts
Attorney Direct Program
As the first-of-its-kind service, Solutia Revenue Recovery’s Attorney Direct program enables hospitals to pursue legal action on overdue accounts, eliminating the step of turning the debt over to a typical collection vendor first. With this service, an attorney recovers the delinquent payments and associated collection costs from the patients. We manage the legal process for you without requiring the usual contingency fee while you focus on other priorities.
- Aggressively pursue payment after giving patients a reasonable amount of time to pay voluntarily
- Save 40% to 60% in bad-debt collection costs
- Pay only a small account management fee
- Speed payments and increase total recoveries
Bad Debt Collections
Leveraging our experience and advanced technology, Solutia Revenue Recovery has built a highly effective process that enables us to maximize the dollars recovered.
- Custom tools and information-rich databases generate accurate and up-to-date consumer contact information
- Respectful, persistent, and resourceful collection specialists who average 10 years at Solutia deliver superior performance
- Multiple payment options mean no excuses: patients can pay online, by check, money order, or credit card
- “Watch” software notifies us of patients’ new phone numbers, employment and bank accounts