Solving the Self
Pay Revenue Puzzle

Despite its importance to revenue and profitability, most financial officers, directors, and managers in the ever-changing medical field don’t have time to focus on self-pay revenue recovery solutions. That’s why hospitals and physicians turn to Vision Financial Recovery. With our tools, technology, and training, we help our customers recover more self-pay revenue than ever before — quickly, easily, and at a reasonable net cost. And because we focus not only on short-term gains, but also on lifetime customer value, our clients have peace-of-mind knowing that their patients are being treated with dignity and respect.

Vision Financial Recovery has a demonstrated track record of helping hospitals solve the Self Pay Revenue Recovery puzzle. Our discrete, advanced solutions can often be implemented without disrupting current vendor relationships or in-place technology.

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Our proven, innovative approaches are guaranteed to recover more Self Pay revenue faster.

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Vision Self-Pay/Early Out

Vision Self-Pay/Early Out

The Client

A mid-size hospital in Northwest Indiana had an aging problem that had not been resolved by their previous outside agency.

The Challenges

  • How to identify the patients with the highest probability to pay.
  • How to craft a workflow that optimizes the revenue opportunity.
  • How to implement a patient-centric approach to outbound phone calls.

The Solution

Self-Pay/Early Out by Vision Financial Recovery

The Surprise

  • Experienced Account Managers to provide customer service with a personalized care.
  • Identification of Insurance billing issues that can be resolved over the phone
  • Vision provides services to the patient until the account is resolved or returned to the facility.

The Results

  • Client received $7.3 million in recoveries.
  • True self pay accounts recovery rate was 6.3% and balances after commercial insurance were at a recovery rate of 29.7%.
  • Insurance was identified in a 120-day program that resolved 1 million dollars for patients that included commercial and government insurance.

The Take-Away

Our experience tells us that 5-8% of presumed self-pay patient accounts are actually covered by insurance. How much are you missing?

Primary Bad Debt

Vision Self-Pay/Early Out

The Client

A mid-size hospital in Northwest Indiana

The Challenges

  • How to identify if patient can pay.
  • How to identify with the patient that medical obligations are just as important as household bills.
  • How to enhance staff communications to assist the patient in making their financial obligations as a priority.

The Solution

Primary Bad Debt by Vision Financial Recovery

The Surprise

  • Experienced Account Managers to provide customer service with a professional and courteous communications.
  • Identifying the patients that are able and willing to pay, while working with those patients who have limited income.

The Results

  • Vision recovered 19.3% in recoveries that were deemed bad debt.
  • There were no patient complaints submitted to the client while Vision contacted patients.

The Take-Away

Experienced account managers working as a team in a high performing culture can deliver outstanding results.

Secondary Bad Debt

Vision Self-Pay/Early Out

The Client

A large hospital on the South Side of Chicago had a significant inventory of secondary bad debt.

The Challenges

  • How to identify why patients didn't pay in early out and primary bad debt.
  • How to identify collections strategies needed to maximize results.

The Solution

Secondary Bad Debt by Vision Financial Recovery

The Surprise

  • Designed tailored workflows and collections tactics to identify payers and maximize contact rate.
  • Utilized specially trained account managers to work with patients to resolve their financial responsibility.

The Results

  • Generated a 8% annual liquidation rate.
  • No patient complaints.

The Take-Away

Outstanding analytics and flawless execution pays off.