IXI’s Ability to Pay Solutions provide unparalleled insight into consumers’ financial capacity. Consisting of a set of robust economic filters, the information may be used to segment bad debt accounts, prioritize collections efforts, and accurately predict utilization and profit margins.
Traditional methods for determining financial capacity that rely on credit or payment information can only provide a view of past behavior (i.e. historical tendency to pay on time). At the same time, census-based income measures fall short of the precision needed to make accurate judgments about a household’s true ability to pay.
IXI’s Ability to Pay Solutions enable firms to understand a customer’s current ability to pay, as they project a customer’s existing financial resources. Unparalleled in accuracy, granularity, and coverage, our household economic measures are modeled from multiple sources, including summary factors produced by IXI’s proprietary database of consumer investable assets.
Ability to Pay Solutions include: Ability to Pay Index and Income360.
Healthcare providers and firms focused on revenue cycle management can use Ability to Pay Solutions in their strategies to:
- Help to better identify charitable care cases
- Predict which patient accounts are likely to go unpaid and be classified as bad debt in the coming months
- Focus and prioritize collections efforts on those with the financial ability to pay
- Segment and rank accounts receivable based on patients’ financial positions
- More quickly determine which patient accounts should be written off and/or sold to third parties
- Identify accounts for which special programs can be developed or payment arrangements can be made
- Value bad debt portfolios prior to sale to third party collections firms