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7/31/2019 SinglePoint Solutions -SPS- Medical Collections and Billing via Patient Scoring - 734-743-1765
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SinglePoint Solutions (SPS) MedicalCollections and Billing Via Patient Scoring
Presumptive Charity/Medal Scoring is simply an evaluation of patientdemographics which ultimately suggests an ability to pay.
The score considers household income, household size, and our alreadyhighly customized propensity to pay model, including debt to income ratio,pay history, tendencies, monthly subscriptions, etc.
The utilization of the charity systems can be tailored to each facility asrequested.
Benefits:
Increase your in-house collection efforts by being able to focus moreon paying accounts
Know which patients to write off
Have the ability to gauge which accounts to send to collections andmore importantly, WHEN
Less burden on your in-house staff/Allow them to focus on morecrucial duties
Send less accounts to collections, (Only those who are scored to send)
Example: A medical office may have 200 past due accounts and are able to
send letters and maybe make a call or two. You can turn all 200 accounts
over to us at day 15,30,45, whenever you decide and we will score ALL ofyour accounts. You will keep the higher propensity to pay accounts and workthem up until day 120-150, (or your preference) and we will work the lower
propensity to pay accounts at the time of scoring. This will enable you tofocus and collect more money while we start earlier on poor performing
patients. Once every account hits day 150, you will have the option to sendthem to us and we will collect on all of them.
7/31/2019 SinglePoint Solutions -SPS- Medical Collections and Billing via Patient Scoring - 734-743-1765
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100% of receivables unpaid Day 1 (i.e., $100,000.00)
Day 1, 30, 45 , or 60 (You may have sent two statements andcollected 20% of your accounts or $20,000.00
Day 90-120, you may have collected another 20% or $16,000.00leaving you with a patient balance of $64,000.00 being assigned toyour collection agency or 64% of your past due accounts
Why is your collection rate low?
No time to call or aggressively collect on EVERY account
You are spending just as much time chasing poor accounts as you arecollecting on good ones
May be under staffed to sufficiently handle your overall accountvolume
May not want to inherit additional expenses to hire more staff, etc.
How do we help?
We will score your accounts the day you send them over to us, Day1,30,60, whenever you decide
1
Vast Data Sources
Over 300 billion current& historic consumerrecords on-line.300 Terabytes of Data.
DemographicandAsset Data
Household compositionProperty & MortgageOccupation & IncomeLifestyles & Hobbies
Aggregated
Credit Data
Additional
Sources
Consumer Credit BureauReport Statisticsaggregated at a zip+4
Internet Domain DataRisky addresses & PhonesKnown fraud addressesValidation databasesBankruptcy & Deceased
MultipleIdentityDatabases
Consumers & BusinessesAddresses & PhoneseMails & IP AddressesSSNs & DOBs
Catalog and InternetPurchases
Who made the purchaseWhat they purchasedWhen they purchasedHow much they spent
7/31/2019 SinglePoint Solutions -SPS- Medical Collections and Billing via Patient Scoring - 734-743-1765
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We will allow you to send us your harder accounts early in the cycle (Ifyou decide to) allowing us to spend the time and attention on themthat they need in order to increase your returns
You will be able to decrease your account load and focus only on yourhigher propensity to pay accounts, allowing you to see higher in housereturns
You will literally have your poor accounts being aggressively workedwhile you are able to effectively work your better paying patients
After realizing a higher in house return (at lower costs to you and lessburden on your staff) You will have the opportunity to send us yourremaining accounts after they reach your target age (i.e., 90, 120,150 days, etc)
Bottom Line: You will see higher in house returns at lowercosts to you and higher returns on your problem child
accounts by allowing a trained collection agency to startworking them before they turn into a nightmare!
Account Scoring Categories
Through considerable mathematical derivations, we advance scoringinto four treatment segments. We then apply these segments to ourapproach and maximize your return. The four basic segments are asdescribed below and while simple in appearance, create considerableleverage to the cycle management of your portfolios, after rather intenseupfront analysis. There is no comparison to an agency successfully utilizingthis system versus not.
Platinum Accounts: Those accounts that make up the largest volumeof dollars to be recovered while requiring moderate effort. Theseaccounts are both average to high balances and above average score(propensity to pay). We understand that these accounts may takelonger to liquidate, however we have specific treatment cycles in placeto ensure maximum recovery.
Gold Accounts: Those accounts that liquidate the fastest, require lowlevel efforts, maintain a high score, and yet have below averagebalances. This is the low hanging fruit within your portfolio andshould be worked with specific efforts in mind. It is our goal toliquidate quick and get that money back into your pockets as soon aspossible
7/31/2019 SinglePoint Solutions -SPS- Medical Collections and Billing via Patient Scoring - 734-743-1765
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Silver Accounts: These accounts have higher balances yet the lowestof propensity scores. They require significant effort, skip tracing, andother manual efforts in order to liquidate, and even than, theseaccounts may never pay. These accounts typically fall into a legalqualification path toward suit preparation. It is essential we segment
these accounts so as not to distract our efforts toward attractivebalances with severely low yield.
Bronze Accounts: These accounts not only have low balances butalso perform badly with very low scores. Despite best efforts to thecontrary, these accounts may also never pay. It services you best thatwe attempt these accounts through low impact methods to gain asmuch yield as possible without losing focus where the most return inevidenced.
The Score ItselfThe Presumptive Score:
1503 = 150 FPG and a 3% chance of collecting.2027 = 200 FPG and a 27% chance of collecting.3561 = 350 FPG and a 61% chance of collecting.1018 = 100 FPG and an 18% chance of collecting.
We also supply back the raw data of median household size and average
household income. **Note these numbers are not EXACT they aredemographic averages.
Our system is fast, dependable, empirical, and consistent.
Our system is less expensive as compared to the heavily manualinternal processes
Our system conforms to tax standards (Form 990 Schedule H) Our system entirely streamlines the charity process
Our system keeps legitimate charity and other accounts out ofcollections.
Our system ensures the RIGHT people are being written off betterserving both the community and your organization
You will receive a patient score within 48 hours
Can integrate with over 10,000 different accounting software systems
Moving Forward to SPS Getting Your Accounts Paid
CONTACT:Elle Beah
SPS Medical Collections Via Patient ScoringSinglePoint Solutions
(734)-743-1765 [email protected]
mailto:[email protected]:[email protected]7/31/2019 SinglePoint Solutions -SPS- Medical Collections and Billing via Patient Scoring - 734-743-1765
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