HCI HealthCare Collections
HCI HealthCare Receivables Management

Client Login  |  Payment


Pre-COVID-19 study reveals revenue cycle challenges on larger balances

Nearly 50% of consumers are one sickness away from serious financial trouble and nearly 80% of healthcare providers are unable to collect balances of more than $1,000 in at least 30 days, according to the results of an annual report released recently by InstaMed. The study illustrates the paradox that exists in the healthcare industry today that both sides of the patient-practice experience are being squeezed.

The data for the InstaMed report was aggregated well before the COVID-19 pandemic struck the United States, and that crisis is likely to only exacerbate the issues facing both patients and providers. Millions of individuals nationwide have lost their job and their health insurance while many healthcare practices are on the verge of closing because people are staying home and hospitals have canceled elective procedures.

For patients and providers, the financial disconnect starts as soon as the patient walks through the door of a facility, according to the InstaMed report. Forty-nine percent of providers are not aware of a patient’s payment responsibility during the visit, and 89% of patients want to know their payment responsibility up front, which creates confusion and uncertainty right from the get-go. From there, it becomes a race to collect. Three-quarters of providers say it takes more than a month to collect on debts. And about 90% of providers rely on paper and manual processes to collect on unpaid bills. Taking advantage of electronic options and technology to collect and stay in touch with patients is not something that has been embraced by providers, even though patients are clamoring for more options, especially those that are tied to their smartphones. Sixty-two percent of providers do not yet offer automatic payments, and 65% are not interested in offering financing options.

It should not come as a surprise to anyone that there are inefficiencies in the physician-patient relationship and opportunities to close the gap between the two. It will be difficult for either side to do anything to help bring themselves closer together as both face severe issues related to the coronavirus pandemic. To help manage their revenue cycles better and accelerate collections, healthcare providers should be looking to leverage relationships with partners that specialize in that side of the transaction.

If we have learned anything from the coronavirus pandemic, it is that we need to come together and work together, and it is in that model that we will succeed. We are here to answer the questions that providers have and to help them improve their cash flow at a time when every dollar counts.

« back to blog

RSS Feed


HCI Fast Facts

  • In business since 1992
  • Only serve healthcare providers
  • Meet HIPAA and PCI DSS compliance standards
  • All employees are trained and certified on their knowledge of the FDCPA, FCRA, TCPA, HIPAA and the emerging CFPB rules
  • Secure client portal
  • Secure patient portal
  • Long-term client relationships
  • Low employee turnover

one of only 70 PPMS Certified collection agencies

PPMS Certified

PPMS is a management system for recovery agencies based upon developing, implementing and adhering to a set of strict industry-specific professional practices and policies.

PPMS certification, much like a SAS-70 audit, requires independent CPA attestation that an agency has in place written policies, procedures, and work processes that ensure regulatory compliance and adherence to industry best practices. The agency must also demonstrate that it has procedures in place to identify and remediate any variance from these. PPMS certified agencies are subject to annual surveillance and must re-certify every five years.

An agency that has voluntarily undergone the PPMS application and certification process is, quite simply, a better business partner than one which has not. This rigorous process results in:

  • Greater productivity/better recoveries
  • Increased efficiency for better customer service
  • Improved data security and physical security
  • Improved solutions to compliance issues
  • Enhanced disaster recovery
  • More effectively trained staff
  • Continuous measurement of client satisfaction
  • Faster resolution of client services issues
  • Company-wide commitment to quality assurance
  • Documented procedures for consistent performance

This strict accreditation insures that you as HCI clients, receive the very best service.

"Clients come to us when good isn't good enough. They demand the best. We love it and wouldn't have it any other way."
— Christian Lehr, VP/COO

HCI is a proud member of the following associations:
HCI Associations Recovery and Medical Associations Recovery and Medical Associations