Recovery and Collections Solutions
The nThrive team can help you rethink your recovery and collection process- to overcome a host of disruptive industry forces ‒ shrinking government and commercial payor reimbursements and payors, disparate systems resulting from mergers and acquisitions, and high deductible insurance plans.
Collections and A/R Solutions
Low overhead costs, reduced bad debt and minimal A/R days are all essential to financial good health. Left unaddressed, cash flow suffers, reducing your organization’s operating margin and making it nearly impossible to predict revenue due to uncontrolled spikes.
nThrive offers a comprehensive line of collections technology, strategic expertise and outsourcing srvices to streamline A/R processes, accelerate revenue collections and calculate the net value of current A/R. nThrive analyzes the revenue cycle to uncover issues that cause fluctuating A/R and deliver predictable and consistent cash collections. Our solution delivers solutions that meet and exceed industry benchmarks:
- OR 30 percent + average increase in collector productivity
- Transparent operations and executive-level reporting for real-time monitoring
- Predictable and consistent cash collections for A/R accounts
- Resource optimization to focus in-house staff on high-value accounts
- Outsourcing to sustain cash flow during disruptive events such as mergers and system conversions
- Single application to control outstanding receivables
Working with nThrive, Promise Healthcare overcomes increasing A/R backlog by making critical changes to resolve nearly 50 percent of accounts and liquidate $13.9M in cashClick here
A typical hospital experiences 1 percent of patient case denial rate. A high level of denials is a significant, unpredictable financial drain. Playing defense isn’t the answer, as it only increases your cost of doing business. A better business strategy is denial avoidance -- identifying and correcting root causes across the revenue cycle to avoid write-offs.
nThrive offers a comprehensive denials improvement program that includes denials management technology and recovery services to quickly identify root causes and create payor accountability for denied claims. Our professionals have the deep payor knowledge to provide insights into denial dynamics at play, helping you create a strategy for sustainable improvement. We’ll help you develop corrective actions to:
- Challenge 88 percent of denials with a 30 – 35 percent win rate utilizing our appeals approach
- Streamline your revenue cycle and prevent ongoing losses, and improve margin
- Automate workflow, improve visibility into denial sources, and lower A/R days with our results-driven management system that includes executive reporting and actionable analysis
Maricopa Integrated Health System partners with nThrive to recapture $28.M through denials outsourcing and provide much needed backlog relief during EHR transitionClick here
Underpayment Recovery Solutions
Nearly 50 percent of managed care payment discrepancies are due to underpayments, representing up to 6 percent of a health care provider’s total revenue. Unless you identify inappropriate managed care discounts and network access, your health system will continue to fight an ongoing battle to recapture lost revenue. By successfully preventing silent PPO discounts and closing contract loopholes, your hospital can dramatically reduce underpayments.
nThrive offers advanced business intelligence and services to recoup cash from underpayments and hold payors accountable for contractually-owed revenue. You can rely on our managed care contract review and reimbursement analysis, which leverages our expertise in multiple health specialties and deep payer knowledge to:
- Uncover trends by payer and service area that may signal contract abuse and underpayments
- Recommend upstream corrections to prevent future issues
- Collect what you are contractually owed faster and more efficiently
- Track your account inventory of underpaid accounts, inappropriate accounts and monitor recovery by month
- Identify payors known to discount inappropriately through our extensive, proprietary database
Allina Health identifies an average of $6 to $8 million in underpayments each yearClick here