Breaking into the healthcare space
DCM Services (DCMS) is proud to partner with many of the largest health systems in the United States. The impressive group of partners did not come together overnight. DCMS has been a leader in the estates recovery space for over 20 years, and the first ten years DCMS’ primary concentration was the financial services market. We partnered with the largest, most respected credit issuers and auto lenders in the country and consequently were held to the highest of standards by these same organizations, creating and nurturing our survivor-sensitive approach to the estates recovery process.
DCMS’ well-developed survivor sensitive approach with heightened emphasis on integrity caught the attention of a healthcare organization in 2009. This company, a large physician staffing organization offering billing services for emergency room physicians, had a growing number of deceased receivables with no strategy for recovery. The combination of their need and DCMS’ proven solutions, created the opportunity for an unprecedented partnership and further pioneering an estate recovery strategy by setting performance expectations throughout the healthcare industry.
No longer a rounding error
With the initial partnership underway, DCMS began educating the remainder of the market. It came as no surprise that when talking with healthcare providers and servicers, each told a different version of the same story. Many were lacking strategy, resources, probate experience, or simply had other priorities to focus on.
As discussions progressed, we found that healthcare providers’ estate inventory was a growing portfolio and was magnified with the rise in self-pay accounts, and the increasing cost of end of life care. The truth was estate receivables was no longer a “rounding error” that healthcare organizations could afford to overlook. The perception of having an estate strategy shifted from “nice to have” to a necessity.
In our first five years in the healthcare space, DCMS began working with a cross-section of health systems, physician staffing companies, revenue cycle providers, pharmaceutical companies, long term care facilities, and ambulance companies. No matter the organization or the services they provided, each found a completely new revenue stream and solidified a purpose to a dignified estates recovery program.
No one size fits all
Throughout our discussions with these organizations we learned that no health system, provider, nor client has the same process when it comes to their approach to estate account handling. As such, every client has somewhat of a different need when it comes to their estate receivable inventory. Some organizations employ multiple host systems which can add a layer of complexity when outsourcing. Some partners have several lines of business, or billing offices which require system aggregation, while other providers want a solution which assists with the intricacies of searching for and filing probate, but do not want to outsource their estate collections.
As we work to understand the unique needs of each healthcare provider, we strive to build custom solutions to match these needs. For example, in 2010 we launched Probate Finder OnDemand®, a web-based application which proactively facilitates the entire administrative process of searching for probated estates and filing claims in the organizations’ name, and then allows the organization to retain the post-claim follow up strategy. DCMS’ proudly services over 200+ clients with its’ Probate Finder OnDemand application.
Create strategy, increase value
Photo credit Atrium Health
Atrium Health (formerly Carolinas Healthcare System) engaged DCMS to collect outstanding estate balances. Monitoring performance over an 18-month period resulted in an increase of more than 400% compared to their previous collection efforts. However, many of our healthcare partners quickly learn that establishing a partnership with DCMS is about more than bringing in newfound revenue. DCMS’ approach to partnership emphasizes protecting a healthcare organization’s brand and the relationships they have built within their community. Helping these organizations identify patients who have passed away outside of a facility and segment this sensitive inventory is critical for minimizing complaints which often result from a reactive approach or traditional collection methods.
Expanding the partnership - Bankruptcy
DCMS has continued to learn from our partners about their specialty needs, discovering that many of these same organizations are facing a gap in their bankruptcy processes. As such, being known for creating solutions, DCMS now also offers bankruptcy claim filing to our partners. This was a natural fit for DCMS as it ties into our superior focus on technology and compliance in the specialty receivables space. Today many of our healthcare partners utilize DCMS for both their estate and bankruptcy needs.
Planning for the future
According to the US census, the average number of deaths annually is expected to rise 38% over the next 20 years. That statistic alone, coupled with rising end-of-life costs calls for a process to ensure your organization is covered. If you already partner with us, take a deep breath, we’ve got you covered.
If you are not currently engaged with DCMS, schedule a discussion with one of our healthcare industry specialists to understand how we can utilize our years of experience to solve your unique needs.
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About the author
Krystina LeClair, Sr. Director, Executive Account Management
Krystina has 15 years of experience in the receivables industry, ranging from the early stages of revenue cycle and pre-collect billing to patient/customer receivables and collections. Her experience provides unique insight and the ability to collaborate with over 100 health systems, provider groups and clinics, the nation’s top telecom and utility providers, and many auto and financial service organizations. Krystina currently leads DCM Services account management strategies, programs and initiatives. Krystina is an active member of the Healthcare Financial Management Association (HFMA) and is a Certified Revenue Cycle Representative (CRCR).