A prominent hospital in Maryland was frustrated by continued poor returns on the $11 million annually being placed with collection agencies.
Alacrity improved the return on their overdue receivables dramatically. Liquidation rate increased from 15.3% (median of 10.1%) to a record high of 21.6%.
Client needed to improve results while preserving their goodwill. It was important for the client to maintain its relationship with delinquent payors.
Alacrity spent over 30% more time and hard costs on collection efforts. The reward was a huge increase in recoveries with no negative impact to client goodwill.