Liquidity increase and cash flow improvement.

The large volume of receivables is a major pressure on the liquidity of any health care provider. Resident Receivables LLC debt collection services provide professional support for their recovery, based on our experience as reliable partners who truly understand the complexities of the health care business and its customers.

The average collection rate for outsourced receivables related to the number of days of delay is:

  • 75% for receivables up to 30 days
  • 60% for receivables between 30 and 90 days
  • 50% for receivables between 90 and 120 days
  • 35% for receivables between 120 and 180 days
  • 15% for receivables over 365 days

Resident Receivables, LLC collection specialists have in depth knowledge on the assisted living and skilled nursing facility business environment, and understand, very well, the economic factors that influence the payment behavior of residents and their responsible parties.

Typical health care debts we recover.
  • Debts incurred as a result of personal portions not remitted to the facility. Personal Portions are defined as any amounts, counted against Medicaid reimbursements, thus reducing daily rate.
  • Debts owed to the facility and incurred by private pay patients and/or insurance companies.
  • Debts owed as a result of resident's failure to honor a Medicaid agreement to spend down their available resources, so to meet Medicaid asset thresholds.
  • Debts owned as a result of a failure to complete Medicaid application (the P.A. Pending resident).
  • Debts owed by the resident as a result of an income change. An income change is defined as any monies that are deemed owed to the facility because of an event that fluctuates the resident's available resources.
Of what does Resident Receivables debt collection consist?

Performance of procedures that track the cash-in of the overdue invoices.
The process has 2 stages:

  1. Amiably Debt Collection
    • Exclusive procedures:
      - Amiable and negotiation
      - Mediation for recovery and solving every debt
    • Pre-legal solutions (outside court)
    • Commercial approach of every case
    • Duration of 3 months
    • Estate recovery
    • "No collection - No fee" - payment is made only for success
  2. Collecting Receivables by Legal Procedures
    • Common-law commercial actions for recovering the debts
    • Obtaining final judgment pronounced by the court that the small claims and the procedure of payment order
    • Enforcement of debtor's estate by the network of legal enforcers

To speak with a member of our legal team directly about your nursing home collection, please contact Resident Receivables, LLC today.