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Keene Medical Products

Keene Medical Products

Overall Cash Recovery for last two years – 82%

Background

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%).

Business Challenge

Keene was looking for a way to both increase their patient pay collections and reduce their labor costs.

The Solution

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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