Case Study
Contract Manager, Payment Estimator

Midwestern Health Network Identifies $40 Million in Underpayments in Seven Years

Business issue

A midwestern health network sought to manage underpayments from payers that threatened revenue and cash collections.

Before FinThrive

Increase in underpaid claims due to outdated legacy contract management system

Lack of insight into government payer reimbursement rates

Climbing bad debt

Escalating collection costs

Solution Highlights

Automates entire contracting process, calculates net A/R at claim submission, and identifies accounts with suspected underpayments

Autogenerates reports that help monitor accurate payer performance and quickly identifies variances that warrant follow-up

Provides timely, accurate, patient-friendly estimates across the point of access

Customer Overview

8 hospitals and more than 120 outpatient facilities

12,000 employees and 2,100 physicians

FinThrive Value

$40M

$40 million in underpayments identified in seven years; More than 95% recovered

↑$6.1M

$6.1 million increase in upfront cash collections

50%

Up to 50% of payments collected at point of service

“We’re fortunate to have a revenue management partner so we can focus on our patients and our community. We’ve been able to improve standardization, optimize revenue cycle performance and enhance high-level effectiveness in payer contract modeling and management.”

Vice President
Revenue Management and Patient Accounts

Confident business woman at easy

Revenue management without limits

FinThrive provides smarter, smoother revenue management to 3,250+ healthcare providers in North America, including 37 of the 40 largest hospitals and health systems in the U.S.