Case Study
Insurance Discover
Mercy Improves Average Monthly Reimbursement by Nearly $50,000
Business issue
Mercy sought ways to cut costs, improve internal efficiencies and find both potential payer coverage for uncompensated care accounts and secondary coverage for patient accounts.
Before FinThrive
High internal inefficiencies
Poor cash collections
High vendor and administrative costs
Solution Highlights
Continuously looks for coverage on all accounts (not just self-pay)
Finds additional payment opportunities from complex cases including Medicaid secondary and potential coordination of benefits opportunities
Identifies commercial policy ID numbers for patients believed to be uninsured
Monitors Medicare and Medicaid for retroactive SSI certification
Customer Overview
Mercy is comprised of more than 40 acute care and specialty hospitals, and 800 physician practices and outpatient facilities
FinThrive Value
$1.77M
Average reimbursement increased from $1.72M to $1.77M per month in six months
$45K
Found an additional $45K per month running behind other vendors
6 mo.
In 6 months, delivered significant value, finding coverage missed by other vendors
Any revenue management process relying on less robust vendor services for insurance discovery solutions may be leaving significant, billable coverage on the table.
In some cases, as demonstrated by this instance, that can translate to millions of dollars in lost earned revenue.
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.