Case Study
Insurance Discover

Banner Health Recovers Over $128M Using FinThrive Insurance Discover

two people at a registration counter

Business Issue

The health system struggled with staffing shortages, lower than expected patient payments, and thin margins. Inefficient processes led to ongoing bad debt and uncompensated care and missed opportunities to accelerate reimbursement.

Before FinThrive

Siloed departments made it difficult to address registration gaps and register patients correctly

Incorrect insurance information and missing patient identification details resulted in longer a collection time

Large accounts receivables over 90 days, average of 24.5%

Solution Highlights

Banner consistently recovers revenue on 36.9% of all billables/ account balances sent to FinThrive

Decrease in number of eligibility denials

Decrease in number of patient complaints due to improved billing statement accuracy

Reduction in accounts receivables over 90 days, average of 21%

Customer Overview

Multi-state health system with acute, ambulatory and post-acute lines of business

$9.4B in NPR

FinThrive Value

↑128M+

Recovered over $115M in acute payments and $13M in ambulatory payments

5.75%

5.75% of total billable accounts was recovered and translated into revenue

2%

Bad debt decreased from 4% to 2% in 3 years

“Working together to streamline processes and find the benefit information for the patients is worth it — I highly recommend looking at this.”

Director, Patient Financial Services

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.