Services

Business Office Outsourcing

Harris & Harris is able to become an extension of the hospital’s business office. At Harris & Harris, our clients have seen their patient collection rate increase to 60 to 65 percent, which translates into significant reduction of bad debt write-offs and corresponding reduction of bad debt expense.

Primary Collection

Within our primary collection unit we work with clients to satisfy debt recovery needs—with maximum profitability at minimal cost. We begin our collection activities with a thorough analysis of our clients’ objectives. We will also review the collection strategies that our clients have used in the past and the distinctive characteristics of their patients in order to provide exceptional service.

Accounts are downloaded into our system, which formats each account into age, balance size, and other available information. All accounts will be coded to receive our collection notices at predetermined intervals based on the facts and circumstances of a certain file. The accounts are then placed into calling campaigns to attempt to reach the responsible party and discuss the resolution of the debt. Once contact is made, our representative will properly document the file and make a determination as to the next step. We will often consult with the client to clarify issues raised by the patient to make a joint determination of the appropriate course of action.

When we make telephone contact with the patient, we are not just collection representatives—we are communicators, ready to talk and ready to listen. We apply a “human touch” to our business, by recognizing that each payer is a unique individual, with unique situations that may require special treatment. Through communication, we establish a good faith effort on the part of the patients to meet their responsibility to pay their debts. Our representatives work creatively to establish a manageable schedule of payment, reasonable discounts for uninsured patients (with our client’s approval), establish the existence of charity consideration, or make arrangements to pay the debt in full.

Insurance Resolution

It is our goal, through third party payer specialists, to search for possible unpaid or under-paid claims. When no insurance information is provided we connect via the hospital’s computer system to view file notes for clues and to see if there are any other possibilities of other third party coverage. We are looking for insurance carriers, workers compensation claims, auto accident issues, personal injury matters, Medicaid, Medicare, crime victims, or any other third party payer. If there is no coverage, our third party specialists call the patient to inquire as to a possible third party payer, which was not determined during admission. It is after these exhaustive efforts to establish third party payer liability that we then turn to the patient to discuss his or her financial responsibility.

Debt Purchasing

Harris Financial Management is the debt buying entity for Harris & Harris, Ltd.

There are many benefits to selling your accounts rather than outsourcing them on a contingency basis. Sellers receive immediate cash for uncollectible accounts. This can be a major source of untapped cash. Cash produced from debt sales is immediately available in a predictable amount rather than in unpredictable amounts during a longer, unpredictable time frame. Regardless of their status or age, there is a value to each and every account, and a dollar amount that you could realize immediately for a group of accounts.

When Harris & Harris buys receivables we pay you upfront. The worry of recovery is no longer your problem. In addition, sellers cut expenses through portfolio sales. Agency fees are eliminated or reduced once accounts are sold. Also, an administrative expense, including data processing related to the collection and management of uncollectible accounts can be cut and reallocated to other more productive activities. Customer service and credit bureau reporting issues are directed to the new owner of the accounts, and in these areas are sharply cut.

When we initiate the purchase of receivables, we look at the age of the debts, the type of information in the account records, and previous attempts to collect. We then make you an offer.

Secondary Collections

Secondary healthcare placements are unique accounts. They require their own self-contained collection unit managed and operated separately from primary collection accounts. Our success on second placement accounts is attributed to concentrating on the accounts that have the means to pay, and also identifying which accounts qualify for charity care or free care programs. By doing this, we maintain the hospital’s relationship within the community, as well as allowing our focus to be on collectible accounts.

Commercial and managed care payment resolutions

Our commercial insurance department is able to assist the hospital with commercial insurance/HMO/managed care, workers compensation, and other similar items. Harris & Harris insurance specialists will conduct intensive telephone campaigns with each third party payer and determine their reason for the delayed payment. We will bill, re-bill and follow up for the payment of each account. Our specialists will also coordinate the execution of documents that have delayed payment, such as a coordination of benefits form. We will research hospital information, with the goal of providing the third party payer with the documentation needed to facilitate payment.