Case Study - Working with the top Image Diagnostic Centers in the nation

By Oct 15, 2015
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CLIENT #20012 IS A PUBLICALLY TRADED (NASDAQ) RADIOLOGY AND IMAGING SERVICE PROVIDER. THEY ARE THE NATION’S LARGEST WITH  LOCATIONS IN OVER 1000 HOSPITALS ACROSS 44 STATES.

 

GOOD STORY

RADREVENUE began working with #20012 in 2005. They were experiencing poor returns and response time from their existing collections provider. They believed returns could be better, but were reluctant to change because of the slow implementation process of a new AR solution. They wanted a partner that could increase returns, reduce the days in AR and provide a quick seamless setup.

We made #20012 our top priority, which wasn’t too difficult.  We had already experienced connectivity with major insurance and radiology practice software providers. The setup was quick and painless for #20012. Since 2005 #20012 has sent us over 88,000 accounts and nearly $30 million in past-due receivables. 

 

RAD Case Study -PDF

 

$6,928,526 REVENUE RECOVERED

RADREVENUE collected $6,928,526 in lost revenue since 2005. A total of $29,883,089 was assigned to locate, collect self-pay, update patient information, identify insurance, and negotiate a settlement or payment plan. RADREVENUE’s recovery of accounts was 23.8%, exceeding the national average collection rate for radiology accounts by nearly 6%.

 

 

52% OF PATIENT ACCOUNTS RESOLVED

RADREVENUE resolved 52% of accounts with an average day in collection of 46 days. A total of 88,046 accounts were assigned with an average balance of $339. Of the patients, 25,471 paid-in-full and 20,507 have been returned to the client as either insurance resolution or non-collectable. The remaining 46,068 are still in collection and are managed by RADREVENUE under payment plans.

*Data based on RADREVENUE  Internal Recovery Reports.  Client Reference #20012, Name & Report provided upon request.

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RADREVENUE

Laurie Linn, Business Development Manager

Website: www.radrevenue.com
More in this category: Locate Patients »

1 comment

  • Comment Link University Radiology & Imaging Feb 18, 2016 posted by University Radiology Imaging

    You do such a great job. By far, RadRevenue is the best collection agency I've worked with! Your collectors are such professionals, and they do a great job for me. Tell everyone there thank you for the good job." Judy, Radiology Office Manager Client Since: 2010

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