Hospitals Increase Cash Flow 78% from Accounts Receivable

In a recently concluded online auction, two outsourcing companies were selected to provide Revenue Cycle Management services to three New York hospitals. The companies have guaranteed the hospitals 44% to 78% increases in cash flow from collecting accounts receivable. Medipent offers healthcare providers a superior program to upgrade collection agencies or select an outsourcing partner for Revenue Cycle Management.

Before Medipent, hospitals had no guarantee that an outsourcing company would meet the hospital’s performance expectations. “Medipent’s program guarantees that an outsourcing company will deliver the expected cash flow from collecting accounts receivable,” said Jason Priest, CEO of Medipent. “To maximize the financial benefit to the hospital, a competitive and binding auction is used to select the company who guarantees the most cash flow.”

An important part of Medipent’s Guaranteed Receivables Program is ensuring that patients who are sent to collections are treated in accordance with the hospital’s standards and charity care policy. “Medipent has implemented a system to monitor the treatment of patients in collections,” said Priest. “We ensure that patients are treated respectfully which minimizes complaints to the hospital.”