Over the next decade, patients will absorb significantly more of the burden for out-of-pocket healthcare costs while facing additional financial pressures. At the same time, third-party collections agencies are striving to meet tighter requirements in accessing credit history. Now more than ever, healthcare collections agencies need new insights to differentiate consumers who have the ability to pay off their healthcare financial obligations.
IXI’s Ability to Pay Solutions for healthcare collections agencies provide unparalleled insight into consumers’ financial capacity to pay overdue healthcare bills.
IXI’s Ability to Pay Solutions are modeled from multiple sources, including summary factors produced by IXI’s proprietary database of consumer investable assets. These solutions enable healthcare collections agencies to:
- Gain a financial and economic profile of consumers
- Manage accounts receivables by prioritizing collections efforts on those with the financial ability to pay
- Segment and rank households with existing bad debt
- Supplement thin file accounts, where historical data may be missing
- Help develop payment plans
- Better predict profit margins
- More quickly determine which patient accounts should be written off or sold (read more about our solutions for Portfolio Valuation)
Learn more about our Ability to Pay Solutions: Ability to Pay Index, Income360, and CreditStyles Pro*.