Motor Vehicle Accident Case Study
Convergent Reduces Accounts receivable aging accounts for large eastern non-profit
The Challenge
A 500-bed Eastern Non-Profit reached out to Convergent RCM for assistance with a growing backlog of Motor Vehicle Accident accounts. Hospital executives were looking to, more quickly, generate revenue from these difficult claims and free staff to focus on current claims.
The Solution
- Experienced Convergent professional onsite to simplify the reassignment of accounts and gather information for effective collections – minimizing staff disruptions.
- Attorney-led approach for resolving difficult accounts.
- Web portal with real-time summaries and interactive reports, providing the facts and figures needed to swiftly respond to financial and operational queries.
- Complimentary Educational Workshops for internal billing staff, providing legal and regulatory information to raise effectiveness and morale for faster, more positive claims results.
The Results
- Days in accounts receivable dropped from 64 to 38 days.
- Drop sustained for 4 years, throughout partnership.
Convergent RCM’s dedicated team of attorneys and Senior Claims Specialists, navigating the entanglements of MVA reimbursement, evaluate all potential payers and aggressively pursues all payment sources, including:
- Responsible party’s auto insurance
- Patient’s health insurance
- Alternative Sources such as Medicare or Medicaid
- Timely filing of liens/letters of protection, when warranted
