First party collections for healthcare revenue cycle management that is often referred to as Early-Out. These services target increasing cash flow and resolving accounts receivable before it is written off to bad debt.  Customer service is at the apex of operations for EBO. From insurance balances to self-pay, we offer a wide range of services designed to be a true extension of your billing office. Our extended business office and insurance services provide you as much or as little help as you desire in assistance with billing and insurance claim follow-up.  Our team targets the early phases of an account when it is less expensive to deliver revenue. Through improved contact and close rates, we can recover more money faster than a provider can recover on their own. Finance System, Inc. can double cash collections, achieving 30 to 40 percent liquidity for cash receipts and 35 to 55 percent liquidity for payments and adjustments.

Insurance Services

Recovering insurance balances from any payer, assisting with resolving denied claims, executing appeals and claim rebilling. Services can be tailored for specific aging and balance ranges.

Self-Pay Services

As the patient has become the third-largest payer in the country, balance after insurance has skyrocketed. Inbound and Outbound communications have surpassed the capacity of most health systems.  We will tailor a self-pay collection program for any provider based on their specific needs and offer simplified payment tools that suit the individual patient’s circumstances.

Our self-pay program combines the latest predictive dialing technology and advanced healthcare scoring models with a team of self-pay collection experts to provide a cost-effective solution for managing self-pay receivables. Our model prioritizes the highest propensity to pay accounts to return more revenue as quickly as possible. We will provide these outsourced business office services under the name of the provider, collecting self-pay balances starting at generation of the first bill or up to 90 days afterwards. This would include tailored statement and letter series specific to the providers needs along with outbound calls with or without managing inbound calls as well. A provider can enhance communication with the patient, avoid costly bad debt referrals and improve patient satisfaction. Finance System, Inc. has demonstrated the ability to significantly accelerate cash flow while decreasing inbound phone calls to hospital staff. Calls are recorded and monitored to ensure communications with patients meet the highest professional standards. These recordings and all collection activity are made available to our clients in real time via our client support web portal.

When you outsource to Finance System, Inc., you will gain access to expertise that may not exist internally. You’ll have the ability to deploy superior billing technology without the usual licensing fees and system transitions. We will give you the opportunity for major expense reduction while utilizing our seasoned professionals with a solid understanding of revenue cycle management and know-how to deploy our organization’s resources to produce results. Bottom line: providers can operate more effectively and efficiently to maintain their core mission of caring for human life in their community.

Payment Monitoring

For providers who offer extensive bill repayment plans, many of which are interest baring contracts, Finance System, Inc. will take the task of monitoring these plans off your table. This is what our software and employees are built to do.  Our follow-up program alerts patients when a payment is due and simplifies the payment process. Getting a payment contract in place is one small part of recovery, it’s keeping patients motivated to stay on track to the finish line that makes the right difference.

Start turning your bad debt into revenue.

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