Extended Business Office

Early Out Insurance Services

Early Out Insurance Services alleviates the pressures associated with low cash flow, growing A/R days, higher bad debt write-off amounts, and a large volume of low dollar accounts. Programs can either be an ongoing, integral part of business services or a one-time "clean-up" project. Either way, all operate transparently to patients and third-party payers.

UMC RCM currently:

• Processes approximately 1.3 million insurance accounts totallling more than $2.3 billion of face amount and collecting $1.0 billion annually in our service center operation
• Places in excess of 2 million calls to insurance carriers annually
• Statuses 85% of the dollars on new assignments within the first 30 days

Benefits of Outsourcing:

• Reduced A/R days
• Accelerated cash flow
• Ability for staff to focus on larger, more liquid accounts
• Identification of errors and omissions that affect timely payment, including those attributed to registration, data entry, outdated codes, or the hospital billing system
• Information updates for master patient database and insurance companies
  

Self-Pay Services

Our Self-Pay Services (SPS) program accelerates cash flow and reduces long-term bad debt expense accounts by handling patient statements and phone calls (including inbound and outbound follow-up calls) for 100% self-pay and balance-after-insurance accounts. Services are seamlessly provided as an extension of the business office.

UMC RCM currently:

• Processes approximately 7.8 million self-pay accounts, representing $870 million of face amount with approximately $258 million in annual collections
• Handles over 10,000 outbound calls and more than 10,000 incoming calls daily
• Mails more than 1.5 million patient-friendly statements per month
• Offers a complimentary Customer Service Online feature allowing patients to access and resolve account balances via the Internet

Benefits of Outsourcing:

• Large one-time cash infusion
• Less administration
• Reduced fees and expenses
• Less management time spent with multiple agencies
• Centralized processing and reporting
• Contractually guaranteed results
• 24/7 patient access to account data via Customer Service Online feature
• Automated outbound dialing to ensure maximum patient contact
• Customized reporting that enhances internal processes that results in increased efficiency