Collections Management

Healthcare providers continue to struggle with elevated A/R days, revenue leakage and reduced cash flow. To answer the challenges of today’s economy and the difficulty in managing aged receivables and collection agencies, MedAssets Collections Management is specifically designed to streamline the collection process and increase the productivity of in-house staff while accelerating net revenue collections.

Collections Management Solution

MedAssets Collections Management is a complete solution that presents a unified view of all types of open receivables in a streamlined workflow. Collections Management provides automated, customizable business rules which drive A/R processing, guiding collections staff to focus on the right accounts at the right time to return the highest revenue.

Exception-driven AR Management
Reduce overall cost-to-collect
Accelerate cash flow and net revenue collections

The solution also delivers quick access to vital information for both staff and management in order to drive performance to its fullest potential, create efficient workflow and collections as well as reduce write-offs. The comprehensive interface allows a collector to effectively manage the volume of open receivables and work efficiently to resolve accounts.

Benefits include:

Streamline collection efforts through prioritized and grouped work-list tasks
Reduce manual work and inconsistencies by automating predictable tasks
Increase accessibility to critical data by consolidating the view of accounts, patient data, transactions, claims, remittances, insured, patient and clinical data, etc.
Highlight time-sensitive tasks with automated alerts and task prioritization
Eliminate missed revenue opportunities with automated filing deadline notifications
Define each potential action for the collector with configurable activity codes and associated predefined notes
Drive consistent communication with payors and patients through automated letter templates, statements and on-demand notifications

Actionable Productivity and Financial Reporting

Traditional patient accounting solutions provide management and staff reporting tools that often are inadequate, fragmented, or require excessive manual manipulation of data. MedAssets Collection Management offers comprehensive, consolidated and easy-to-use reporting capabilities.

With MedAssets Collection Management reporting your organization can:

Create real-time A/R aging reports by facility, department, payor, collector, etc
Monitor denials, underpayments, bad-debt write-offs, patient discounts, filling deadline write-offs and contractual write-offs with real-time financial transaction trending and detail drill-down
Control report content and appearance with true, ad hoc reporting
Create scheduled reports delivered in Excel/PDF format for routine reporting activities
Review and enforce process compliance with detailed, trended productivity reporting