Revenue Cycle
and Billing

Reduce Canceled Debt with Health Insurance Discovery Tools

by | Dec 22, 2021 | Healthcare, Medical Billing, Public Health, Revenue Cycle Management

Rising canceled debt continues to impact your bottom line. Between 2015-2017 uncompensated care cost the healthcare community $42.4 billion per year (Kaiser Family Foundation (KFF). 

KFF estimates that the government used tax dollars to cover 80% of those costs ($33.9 billion). That leaves approximately $8.8 billion in lost revenue that organizations like yours typically write off, although a small portion is recouped through worker’s compensation, provider charity, and philanthropic organizations (see figure below).

The Financial Outlook is Bleak

The situation won’t get better any time soon. Rising healthcare costs, higher gasoline prices, and inflation are taking even more money out of patient’s pockets. 

  • 63 million adults — 29% percent of all adults in the US — reported it was somewhat or very difficult for their household to cover usual expenses, such as food, rent or mortgage, car payments, medical expenses, and student loans (Center of Budget and Policy Priorities). 

As Americans struggle financially, healthcare organizations find it more difficult to collect payment for services delivered. Healthcare financial leaders and public program directors are looking for ways to improve their balance sheets without turning patients over to collections.   

Many of these savvy administrators are turning to American Exchange to reduce their uncollected dollars levels. Our insurance discovery tools help clients recoup revenue rather than writing it off.

American Exchange Maximizes Revenue through Insurance Discovery 

American Exchange has been improving client cash flow by identifying a higher percentage of primary, secondary, and tertiary insurance coverage for previously uninsured or underinsured encounters. We conduct insurance discovery retroactively across all public and private payers – private insurance carriers, exchanges, Medicare, Medicaid, COBRA, worker’s compensation, and Veterans Affairs/TRICARE.

We have successfully:

  • Reduced chronic uninsured patient volumes by 15% 
  • Discovered up to 30% of uninsured accounts on previous encounters ear-marked for write-off
  • Delivered a greater than 10:1 return on investment. 

Download Use Insurance Discovery to Reduce Canceled Debt to learn more about our Insurance Discovery solution.

American Exchange Can Handle All Your Revenue Cycle Management Needs

Let American Exchange increase the efficiency of your entire revenue cycle management process. We provide:

Intake and enrollmentInsurance discovery
CredentialingAccounts receivable management
CodingDenials management
BillingReimbursement and collections

Call American Exchange today to reduce your canceled debt and maximize your revenue.