The Solution
To identify and recover low balance accounts, Knowtion’s team and technology:
- Assessed and scored the low balance inventory based on propensity to pay, then deployed automated or action-based follow-up workflows.
- Pursued payment for high-potential accounts, using specialized AI-supported workflows to recover dollars and contacting patients and insurers to secure necessary information.
- Confidently wrote off low-yielding inventory by minimizing efforts on accounts with low payment probability.
- Delivered rich analytics and reporting, with data on collections performance versus benchmarks, details on the current status of placements and payments, and trends across root causes for low balance accounts.
The results
Over 12 months of working with Knowtion, the health system achieved:
