Keene Medical’s billing and collection process wasn’t broken per se, but it was very labor intensive. Once the past due balances were turned over to the collection agency, the amount it collected was minimal (around 3%).
Keene was looking for a way to both increase their patient pay collections and reduce their labor costs.
In 2015, before Keene rolled out COLLECTPlus, it was collecting around $21,000 with its agency. Now, it is receiving hundreds of thousands of dollars compared to the same timeframe making a considerable difference in revenue!
In addition, the cost of using COLLECTPlus is minuscule compared to what Keene was paying in salaries for the billing staff. Their billers were eventually utilzed in another department. In the beginning, patient A/R balances over 90 days were around 27%. Now, it is negative because Keene is collecting money for the recurring charges upfront. According to Keene, this is an excellent testament to use Allegiance Group services.
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Quality DME was writing off a lot of patient A/R because they did not have complete Patient Pay Billing and Collection system. Their staff was responsible for printing and mailing statements but did not have time to make collection calls. So, they used the outside collection company. Without an integration with their collection company, it was challenging to track the payments the collection company received.
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Keene Medical Products
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