red dot managementAbout US
Red Dot Management provides an elegant solution for the most difficult tranche of patient accounts: the self-pay & patient responsibility motor vehicle accident (MVA) account.
This is a full solution for all aged and forward flow self-pay, MVA accounts; creating a predictive monthly revenue stream while reducing resource costs-and improving your patients’ experience and relationship.
01. TPL Accounts
Third Party Liability accounts are extremely complex, time consuming, and the only financial class that requires a 100% manual resolution process.
Consequently, resolving these claims internally poses significant challenges.
02. current process
Accident related claims are either managed in-house or out-sourced to a collection company or 3rd party service (ex, billing company).
The current account resolution output is diminished due to the inherent limitations of most contingent fee services.
03. Red dot’s solution
Red Dot creates the most equitable solution:
- Revenue is actually created-quickly
- “Days in AR” are significantly reduced
- Actually Improves the patient experience and relationship with your hospital by completely avoiding debt collection activities
The Numbers Don’t Lie
Hospitals are forced to survive in a different era. The cause of Operating Margin declines are multiyear reductions in topline operating revenue growth.
We now live in a world of increasing cost and declining reimbursements. Identifying innovate revenue sources is incumbent on hospital CFOs and Revenue Cycle Management team members.
Hospital Operating Margins plunged 96% in the first 7 months of 2020
hospital operating margins are down 28% year-to-date compared to 2019
our value propositions
What We Do Best
Our solution creates both immediate revenue for aged accounts but also consistent, monthly revenue for future accounts
No reduction in value
Pricing for the MVA accounts is at or near the historical performance-receive the same amount ~5X faster without waiting or using your staff
doesn't trigger debt covenants
Our approach is designed specifically to avoid triggering any debt covenants. By purchasing accounts at or above the “booked value” bad debt isn’t increased…but revenue is.
Improve PAtient Experience
Patient’s that have been the victim of a MVA feel re-victimized when their hospital sends them to collections.
Red Dot removes those patients if they’re in the debt collection cycle; and avoids it all together for future accounts because we only seek resolution from the responsible liability carriers.
no collection activity
It bears repeating that Red Dot DOES NOT engage in direct collection activity against patients.
We see ourselves as an extension of your customer service-and conduct ourselves accordingly
Aged and future accounts
Our solution converts both your aged pool of receivables as well as your future, monthly accounts, into constant revenue.
This results in a large bolus of revenue for the 30 months of aged (often $50-100mm in gross billed charges) accounts; and consistent, monthly bottom line revenue.
Large hospital systems can expect $15-25mm of revenue in the first year, depending on their patient volumes.
Get In Touch
1401 South Virginia Street, ste 225 Reno, Nevada 89502
+1 775 624 5230