Interactive case study
Overview
A national health system went live with DCM Services' Signature Service™ solution. Since then, they've filed more than $6.5 million in probated estate claims and recovered more than $2 million.
Profile
A prestigious, non-profit academic health system, headquartered in the Midwest; nationally recognized as a leader in care specialties, this organization leads the way in the region and nationally in both care and revenue cycle management.
They recognized that they were losing all of the estate revenue to which they were entitled, and exposing themselves to risk in this area. They sought an opportunity to create better, more compliant process, and capture a whole new revenue stream. To meet this need, they embarked on an extensive search and RFP process to choose the best specialty revenue cycle partner in all of these areas. Their search resulted in a partnership with DCM Services.
Obstacles and challenges
Lack of internal resources
A patchwork team of internal employees with no estate expertise struggled to identify even a fraction of their estate opportunity.
Inconsistent processes
Multiple manual processes hindered any positive return on investment and exposed the organization to multiple compliance risks.
Compliance vulnerability
An inability to proactively identify decedents or estates and lack of processes to comply with CMS Reimbursement Requirements meant that the system had significant risk exposure.
Revenue loss
Aging demographics and an increase in patient responsibility meant that a total loss in estates for this system was no longer viable from an overall fiscal health perspective.
Results
After implementing Signature Service™, automating the client's otherwise entirely manual estate processes, and incorporting it's proprietary VERIF-id™ and Probate Finder OnDemand® solutions, DCM Services has recovered $9.7 million in total collections* including probate, non-probate, and trust revenue. Of this, $6.5 million represents filed claims, an annuity which will produce an annual steady state revenue of $2.2 million for years to come as new estates are located.
$9.7M
Total collections*
$6.5M
Filed claims
$2.2M
Annual steady state revenue
Conclusion
The number one most powerful determinant of success among all of DCM Services health system clients is process excellence. It supersedes a number of obstacles each health system faces such as payer mix, probate codes, socioeconomic and demographic influences.
An industry peer located on the East Coast produced similar results. The graph below details recovery results from the client's own customer services team compared to DCMS outsourced recovery efforts. DCM Services outsourced collections team performed 450% better than internal recovery efforts. Hover over each data point to see the DCMS difference.
Collections in USD, from April 2016 - December 2017.
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