“U.S. hospitals provided $45.9B in uncompensated care in 2012, representing 6.1% of annual hospital expenses.”

An increasing percentage of people with medical insurance are having difficulty paying medical bills. With growing debt and rising costs, healthcare providers and medical debt collectors are turning to statistical modeling to develop a more targeted and effective patient friendly collections strategy.

Download this white paper to learn how statistical models can help you identify which accounts have the highest propensity to pay, helping you make the collections process more efficient and effective leading to cost reductions and increased liquidations.

from the whitepaper:

Introducing Statistical Modeling

Statistical modeling generates scores that can more accurately predict payers and dollars to be collected, enabling healthcare providers to develop a more targeted and effective patient friendly collections strategy. The model generates a score based on millions of medical payment observations blended with socioeconomic and demographic data, producing accurate predictions of which patients are most likely to pay. The model does not require bureau data or personally identifiable information, alleviating concerns about violating patient privacy or permissible purpose rules. These models leverage industry specific databases of information that is updated frequently for ongoing stability and performance. With this score, hospitals and health care providers can more accurately predict those accounts that are likely to be able to pay, in addition to the dollar value of the patients account to ensure cost efficiencies. Providers can then develop a targeted collections strategy around these scores to make their collections efforts more effective….With statistical scoring, third party collectors can target those accounts more likely to pay, and pursue those liquid accounts more aggressively. They can take more effective actions, spending less time spinning their wheels as employees become more effective, resulting in fewer complaints. Finally, third party providers can then demonstrate their specialization and achieve excellence within the medical debt recovery field.