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.
It means that no matter your position, never worry about:
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.
No problem. Automatic reprioritization assures that despite changes in staffing level, account queues are always optimized for the staff available.
Beyond account prioritization, CollectLogix™ incorporates standardized job aid, scenarios, and notation.
What that means:
CollectLogix™ is an award winning revenue cycle collections/follow-up application delivered in an ASP model.
An ASP, or Application Service Provider, is a model that provides many advantages:
The following graphs show the average cash realization percentage before (blue) and after (green) the CollectLogix™ implementation.
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™.
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.
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:
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.
Contact us for a demonstration.
Click Here to read how Santa Rose Hospital used CollectLogix™ to increase cash realization by 5.83%