CASE STUDY #1
“Hospital A”
Hospital A is a mid-size regional healthcare system with approximately 500 patient beds. Achieve began working with this hospital in the fall of 2007.
The chart below shows the growth in total debt enrolled¹ on behalf of Hospital A over a 6 month period from January 2008 through May 2008.
The average net new debt enrolled² in the program was $203,876 per month.
Hospital A reports that the debt enrolled via Achieve is entirely “additive,” meaning that the hospital has not seen any corresponding decrease in the performance of collection. In fact, the Director of Patient Financial Services at Hospital A believes that “Achieve is keeping our other vendors on their toes. We’ve actually seen an increase in collections activity and performance as a result of adding Achieve to the mix.”
It is important to note that these numbers are still very preliminary. Both Achieve and Hospital A expect them to continue to increase at a steady pace over time. The nature of the Achieve program is cumulative—the longer a provider stays with the program, the higher the rate of return.
At the current rate of growth, Achieve will have enrolled well over $3,000,000 on behalf of Hospital A by the end of 2008.
1 “Total Debt Enrolled” refers to the total patient dollars to be repaid via the Achieve program over the life of the program. The average repayment period for an Achieve patient is 3.5 years.
2 “Net New Debt Enrolled” refers to the total amount of new debt enrolled minus any debt that has left the program (e.g. due to completion of program/full repayment of debt, attrition, etc.).