Midwestern Health System
TSI Healthcare provides Impressive Patient Cash Recoveries For Health System for 18+ Years
The Challenge
In 2004, a large Healthcare System in the Midwest, began looking for a way to increase cash and improve communications with their patient population in Northeast low. Over time, new challenges developed surrounding the Affordable Care Act, changes to internal HIM systems, and corporate rebranding, causing patient responsible balances to pile up.
The health system swiftly enlisted the help of the TSI Healthcare family (formerly Convergent Revenue Cycle Management and Convergent Healthcare Recoveries) to manage patient balance receivables, both self-pay and balances post insurance statement, bad debt recoveries, and call center processes.
The Solution
Over eighteen years later, TSI Healthcare continues to be an integral part of their patient balance receivables management and patient satisfaction process via both inbound and outbound patient calls and text messaging, when allowed.
Monthly dashboards, KPI tools, and performance reports are generated with advanced analytics, keeping them informed on the status of our patient accounts and AR management, while day-to-day contact with operational supervisors ensure that our policies and procedures are followed with ongoing effectiveness.
The Results
TSI Healthcare continues to perform well above the initial baseline recoveries, originally at 33% liquidation. This initial program was so successful at accelerating cash recoveries and supporting the treatment of patient populations, the health system’s clinic operations also began utilizing the TSI Healthcare family in 2012.
Today, TSI Healthcare recovers an average, $1.2 million monthly on the facility side and $570,000 monthly on the professional side, with liquidations reaching 59% and 74% respectively.
“The trust we have with Convergent is as if we are working within our own team and is one of the reasons we continue to do business with Convergent.”
Manager of Collections & Receivables
