PR - Hospitals Say MEDIPENT?s Guaranteed Collections Program on Target

Hospitals in metropolitan New York and Albany attended an educational briefing last week to learn about a better method to qualify, select, and monitor AR outsourcing partners, including collection agencies.  The briefings were sponsored by HANYS Solutions, a subsidiary of the Healthcare Association of New York State, the Nassau Suffolk Hospital Council, the Northern Metropolitan Hospital Association, and MEDIPENT, LLC. Molly Poleto Director, Business Development with HANYS Solutions said “the feedback we received from our members was very positive.  They believe that MEDIPENT’s Guaranteed Collections program addresses the challenges they face with outsourcing partners and that it will benefit their facilities.”

MEDIPENT’s Guaranteed Collections program uses an online expert auction to guarantee increased cash flow and fewer patient complaints. MEDIPENT’s process assures, through a rigorous 150-point agency pre-qualification process and a best practices contract, that winning agencies comply with the hospital’s authorized collection practices and charity care policy, treat patients professionally and courteously, and operate in compliance with industry regulations. Vince Dingman, CFO of Columbia Memorial Hospital said after attending the session, “I believe MEDIPENT can add value to our collection agency contracting, selecting, and monitoring process.”

MEDIPENT presented detailed results from an auction conducted earlier this year in conjunction with three Long Island hospitals. The winning agencies have guaranteed the hospitals 44% to 78% increases in cash flow from collecting delinquent accounts receivable. Kevin Dahill, Chief Executive Officer of the Nassau-Suffolk Hospital Council and educational briefing panel member stated: “Hospitals are currently facing increased scrutiny of collection practices and MEDIPENT provides a better process for managing outsourcing partners and increasing cash flow.”

MEDIPENT advocates the use of a comprehensive quality and compliance pre-qualification checklist and online expert auctions to select and monitor collection agencies.  MEDIPENT’s unique approach helps hospitals to verify patients are treated well by collectors and to maximize cash flow. Post-implementation, MEDIPENT conducts periodic quality assessments to assure that patients are treated well and to verify the winning agency complies with regulations. Cynthia Snow, Director of Patient Accounts for Champlain Valley Physicians Hospital Medical Center reports “The MEDIPENT approach definitely addresses the challenges we face and we need to look into this for our current receivables and second placement programs.”