Healthcare Excellence Institute

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CollectLogix™

Collecting Dollars, Making Sense
New Generation Revenue Cycle Collections Application

Revenue cycles that are still using the host system for collections and follow-up are behind the curve. Most revenue cycle collections applications allow users to sort worklists based on a single factor such as high dollar, payer, and age. This delivers sub-optimal results, ultimately resulting in lower cash realization and increasing cash leakage.

The CollectLogix™ Value Proposition: 3-5% increase in cash realization within 90 days.

CollectLogix™ is powered by a 9-variable statistical algorithm, originally developed using logic similar to what Fortune 100 logistics operations use, which systematically prioritizes accounts based of the risk of not being paid. That means more cash for your organization.

Algorithmic collecting and follow-up? Yes!

It means that no matter your position, never worry about:

  • Disparate worklists
  • Random, single factor sorting
  • Collectors working incorrect accounts
  • Inadequate account penetration
  • Not maximizing cash realization

In real-time, the CollectLogix™ algorithm delivers worklists so that at any given point, a collector's queue is optimized to convert the most net revenue into cash.

Associate calls in sick?

No problem. Automatic reprioritization assures that despite changes in staffing level, account queues are always optimized for the staff available.

What Else?

Beyond account prioritization, CollectLogix™ incorporates standardized job aid, scenarios, and notation.

What that means:

  • No more "work of art" approach to following-up on accounts
  • CollectLogix guides collectors on what questions to ask a payer to ensure payment
  • Allows collectors to pull up applicable prompt payment laws, previous call logs, and notes
  • Assures that no matter who worked the account, all notes are standardized
  • Fully customizable scenarios for every situation
  • Integrated error feedback loops
  • Tracking of payer requested documents
  • Advanced productivity tracking
  • Because everything in standardized, training new associates on the application is simple

What is CollectLogix™?

CollectLogix™ is an award winning revenue cycle collections/follow-up application delivered in an ASP model.

What's an ASP model?

An ASP, or Application Service Provider, is a model that provides many advantages:

  • IT support burden is put on the provider (us), not the client
  • Minimal internal IT strain
  • Integrates will all major host systems
  • Easy conversions, upgrades are always included
  • Available anytime through our secure portal
  • Minimizes downtimes
  • Set-up time is quick
  • Designed with the customer in mind

What makes CollectLogix™ different?

  • 9-factor multivariate prioritization algorithm
  • Standardized job aid and notes
  • Operational metrics to allow managers to know where their teams stand
  • Developed based directly on how collectors actually follow-up on accounts including feedback from our own collections processing center and of course, our clients

What are the benefits?

The following graphs show the average cash realization percentage before (blue) and after (green) the CollectLogix™ implementation.

  • 3-5% sustainable increase in cash realization
  • Reduced collection volatility
  • Improve cash predictions
  • Standardized collections process
  • Real-time operations transparency
  • Management reporting to prioritize issues

Who uses CollectLogix™?

Though we can't name every organization, hospitals from small to large, CBO's, and collection agencies have all improved their cash realization using CollectLogix™.

Why was CollectLogix™ created?

CollectLogix™ was created with the goal to make collections and follow up more logical for both collectors and hospital leadership. At various clients' sites, we observed a series of common but also significant process failures that could be easily corrected by giving collectors a tool to do their jobs more effectively.

How was CollectLogix™ created?

CollectLogix never started out through the paradigm of traditional healthcare software. It was designed from the very first line of code by a team of:

  • Process and Measurement Engineers
  • Lean Six Sigma Experts
  • Applied Statisticians
  • Experienced .NET Developers
  • Collectors, validators, and billers
  • Top healthcare executives

Together, this group was able to identify the major ways in which traditional collections applications fall short and ways to help collectors perform their jobs more efficiently.

Want to see CollectLogix™ and learn more?

Contact us for a demonstration.

Click Here to read how Santa Rose Hospital used CollectLogix™ to increase cash realization by 5.83%


Read How Santa Rosa Hospital Uses CollectLogix

CaseStudy
"CollectLogix has revolutionized the way we manage follow up on our accounts. Our managers are able to focus on management instead of managing the assignments."
Cassandra Hogans
Director Revenue Cycle Business Services CHRISTUS Health
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