Muncie, IN (PRWEB) October 19, 2011
RevSource Solutions, a leading provider of personalized online payment solutions, today announced that HRMG (a services division of CMRE Financial Services, Inc.), one of the most progressive early out agencies, has signed a multi-year agreement to utilize RevExpress as their personalized online payment solution.
HRMG has been able to increase efficiencies by using RevExpress and continues to use RevExpress as a strategic advantage with their existing clients and in bringing in new business. “In addition to the increased revenue seen by utilizing RevExpress, HRMG has been able to take advantage of notifications sent from RevExpress for direct patient follow-up to cure the accounts where there were no similar solutions available with this additive functionality,” said Jon Nixon, executive vice president, CMRE/HRMG. “RevExpress has increased our internal efficiencies by taking payments online and automating what used to be labor intensive posting of payments. Automating this process improved our internal security and eliminated any human errors associated with manual processing. We will continue to use RevExpress for our clients because of increased and accelerated collections as well as the improved follow-up we have with patients.”
RevExpress is a new payment channel for early out and self-pay receivables where clients are seeing increases of over 300% above traditional payment portals. Payments are quick and easy because of the personalized, pre-populated websites utilized by RevExpress where the average payments are made 12.68 days from the day statements are sent out, decreasing Days Sales Outstanding. RevExpress is so easy to use, 78% of patients that log on make a payment.
“We have witnessed great success and efficiencies for collection agencies collecting on behalf of healthcare organizations,” commented Paul Smith, president, RevSource Solutions. “Collection agencies can realize increased revenue and efficiencies by utilizing RevExpress on accounts and the results we have seen are over 300% more online payments and up to 24% of all payments coming through RevExpress, automating agency processes and increasing efficiencies.”
“Benefits of RevExpress include accelerated payments and increased efficiencies within the collection agencies, resulting in higher profit margins,” commented Shawn Kerrigan, president, RevExpress. “Integrating with the existing merchant account has enabled us to increase efficiencies for the agencies and reduce time consuming manual payment processing. Integration, intrigue and automation have been able to decrease average payments down to 12.68 days on early out business.”
RevExpress enables users to customize the look and payment parameters by client. It also enables the healthcare facilities to advertise their service lines by facility to the patient.
The solution also deposits the funds directly through the clients existing merchant account to speed the receipt of funds. This automated feature creates efficiencies within the agency and further decreases the risks associated with manually processing transactions.
To learn how you can increase and accelerate revenue, visit http://www.RevSourceSolutions.com or email info(at)revsourcesolutions(dot)com.
HRMG, a California-based early out self-pay AR management company, services healthcare clients throughout the United States. HRMG provides the most progressive, patient-friendly solutions for healthcare clients.
About RevSource Solutions:
RevSource Solutions, LLC headquartered in Muncie, Indiana has developed innovative and efficient receivables management and revenue cycle enhancement solutions. RevExpress utilizes secure, personalized websites to increase and accelerate revenue. The Company facilitates the management of payments, processing, remittance, e-mail confirmations, demographic data and insurance updates all in a single online solution. Clients representing market sectors include Healthcare, Collection Agencies, Law Firms, Charitable Organizations, and Membership Organizations.
RevSource Solutions, RevExpress and respective logo are trademarks of RevSource Solutions, LLC. Other company and product names may be trademarks of their respective owners.
Paul G. Smith