Successful Collections Projects
A major Infusion/DME company contracted with Advantage Reimbursement to outsource the collection of existing A/R for three branch locations recently acquired. The project included claims from payers including Medicare, Blue Cross and a host of commercial carriers. The client expected that about $200,000 of the $1.1 million open A/R was collectible. Following the acquisition, all three branches were converted to the acquirer's systems and pursuing the acquired A/R detracted from the integration mission.
The A/R outsourced consisted of 5,000 claims. There had been minimal collection activity. Because of Advantage Reimbursement's expertise and versatility in software systems, its representatives were able to directly utilize the customer's database to maximize collection efforts. As part of the project, Advantage representatives documented direct collection notes and activity in the customer database, providing the customer with 100% visibility into the progress of the project.
The project lasted six months and Advantage Reimbursement was able to collect $325,000, exceeding the customer's expectation. The client is extremely satisfied with the results and demonstrated expertise, efficiency and knowledge of the Advantage team.
Full Service Outsource
A hospital based Infusion/DME program contracted with Advantage Reimbursement to perform all of its billing and collections after many years of poor performance from its internal staff. In addition to playing a key role in a new system conversion, the Advantage team transitioned the pharmacy and program staff to successfully provide needed paperwork, delivery tickets and authorization processes that would maximize reimbursement. After the first year of operation, the program broke all cash records and they enjoyed the financial success that mirrored the high quality of patient care provided. After over twelve years, the program continues to outsource all of its billing and collections to Advantage Reimbursement, having grown from a program with $200,000 monthly revenues to over $1 million per month. Cash to net revenue continues to be near 100%.
Temporary Outsourcing
A national provider of Home Infusion and DME decided to sell off a Division and close a regional billing office. To expedite the office closing while it marketed the Division (to be sold), the company outsourced all of the existing A/R and all of the ongoing billing and collections to Advantage Reimbursement. With over $4 million in existing A/R that had not been worked aggressively and with monthly revenues of $500,000, the Advantage team took on the challenge of learning the company's internal systems and in managing a staff of newly acquired employees from the customer. The Advantage team overcame many obstacles including poor historical collection notes, inadequate system reporting, timely filing limits, and difficult payers. Advantage maximized the collection of the old A/R and exceeded ongoing cash goals throughout the two year life of the project, resulting in a very satisfied customer and an eventual sale of the branch to a new owner.
