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Debt Collection Services 2023
How Are Firms Fostering Partnership & Driving Outcomes?
Author
Mollie Hunt
Author
Sam Eaquinto
Amid current economic challenges, healthcare organizations are contracting with debt collection services firms (often multiple at a time) to ensure financial stability, leverage specialized expertise, and comply with complex regulations. These firms possess the resources and knowledge to efficiently and ethically recover unpaid medical bills—supporting positive patient relationships and saving time for health systems so they can focus on providing quality care. In a market where most firms perform highly, this report—KLAS’ first on debt collection services—examines which firms provide strong technology, foster partnerships, and drive outcomes across organization sizes.
Note: While there are many regional debt collection firms, this report focuses on firms with a national presence.
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Key Findings:
- State Collection Service Highlighted for Proactive Communication & Expertise; RSi Clients See Firm as a Responsive Partner
- Clients of Balanced Healthcare Receivables* Report Strong Value through Consistent Collections
- Firstsource* Technology Enhances Execution; ARStrat* Shows Signs of Inconsistent Delivery across Client Sizes
*Limited data
Writer
Natalie Hopkins
Designer
Jessica Bonnett
Project Manager
Sydney Toomer
This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2024 KLAS Research, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.