Insurance Recovery
RSi’s low balance insurance experts leverage a tailored process and utilize technology to assess and apply resolution actions to accounts, resulting in faster claims resolution and lowered A/R. With the majority of your revenue emanating from third-party payers, our work typically begins with two directives:
1
Accelerate and increase cash collections.
2
Slow and reduce overall AR aging.
1
Accelerate and increase cash collections.
2
Slow and reduce overall AR aging.
Speed to recovery, resolution with payers, and reduced aged AR is our priority.
Overall recovery rates on accounts placed are the standard measurement; however, the ability to identify payer trends, gaps, and denial root causes are all benefits of utilizing our experienced team.
A healthcare system approached RSi in 2019 to bid on insurance recovery services. Although RSi’s proposal was higher than the other short list vendors, the client knew of our success in this area and selected RSi. Year one results? A $1 million NET improvement over the prior year. This led to our being awarded the system’s entire backend revenue cycle management services. Years later, our year-over-year performance improves every year.
A 750+ bed academic health system turned to RSi in 2020 for assistance with Insurance Recovery. Over the years, since becoming our client, cash targets have been consistently surpassed and they have met monthly collection goals every single month. This client has come to rely on the work we do to help recovery insurance dollars and reduce AR.
Differentiators
Our extensive experience and commitment to excellence make us uniquely qualified to provide receivable resolution services for several reasons.
Industry Expertise:
With over two decades in the business, RSi has developed a deep understanding of the complexities and nuances of the healthcare receivables landscape. Our team of professionals possesses extensive knowledge of the industry and the specific needs of healthcare providers, enabling us to provide customized solutions for each client.
Comprehensive Training:
At RSi, we invest in continuous training and development programs for our staff, ensuring they are well equipped to handle all aspects of the insurance follow-up process with professionalism and accuracy. This includes training on federal and state healthcare regulatory laws including HIPAA and the False Claims Act.
Proven Results:
Our long-standing presence in the industry and numerous satisfied clients attest to our ability to deliver successful outcomes. We have consistently demonstrated high resolution rates, improved cash flow for our clients, and exceptional client satisfaction scores, highlighting our effectiveness in the insurance recoveries space.
Advanced Technology:
RSi leverages cutting-edge technology, such as automated claim status and data analytics, to enhance the efficiency and effectiveness of our collection efforts. By embracing technological advancements, we stay ahead of the curve and maintain our position as a leading provider of insurance recoveries.
Compliance and Ethics:
Our commitment to compliance with industry regulations and ethical practices is paramount. We maintain a robust quality assurance program, ensuring that our representatives adhere to legal and ethical standards in their day-to-day operations.
Tailored Solutions:
We understand that each healthcare provider has unique needs and requirements. As such, we offer a range of flexible solutions, including different contingency rate options based on age at time of placement, make up of accounts to be placed, timeframe to recover on accounts, and various other components to meet the specific needs of each client.