Millions of families are turning to nursing homes and other forms of long-term care (LTC) for their aging baby boomer parents. At Southwest Recovery Services, our empathetic approach to nursing home collections helps increase cash flow to your business while respecting the dignity of those placed under your care.
Reduce Collection Costs for Nursing Facilities
Health Services Research (HSR) reports that by 2030 there will be 70 million baby boomers between the ages of 66 and 84 in the United States. The Congressional Budget Office (CBO) estimates that the costs of long-term care services will hit $195 billion in this year, and $270 billion by 2030. The billing and collection processes for all those services costs a lot of money to set up and maintain. Southwest Recovery Services has the medical collections experience you need to reduce collection expense and accelerate payments from third party payers.
We Help You Locate Family Members Willing and Able to Pay for Elder Care
In the United States, the primary financial responsibility for elder care services will fall on the children of baby boomers. At the time of the HSR study in 2002, the present value lifetime costs for uncovered care of a typical 65-year-old baby boomer in a longer-term facility exceeded $44,000. The hard reality is that nursing homes and long term care facilities may find it difficult to locate family members willing and able to cover those costs. Southwest Recovery Services has the technology, tools, and human resources you need to find the responsible party.
A Duty of Care
The parents of baby boomers fought in World War II. For nurses providing patient care in long-term nursing care facilities, it’s more than a job. It’s also an expression of their gratitude. At Southwest Recovery Services, our recovery agents understand that this moral duty runs deeper than any legal duty a nursing facility may be compelled to provide. We also understand that collecting payment from the responsible party for services rendered is what makes excellent care possible.
Southwest Recovery Can Help
Most nursing homes do not have the dedicated resources required to pursue past due or delinquent accounts. Here are a few examples of how we can help improve your cash flow.
- Increase outbound collection calls
- Negotiate terms and set up payment plans
- Assist in seeking debt financing
- Take advantage of retroactive Medicaid financing
Let us show you how to maximize patient care while protecting your bottom line with our gentler, more effective debt recovery solutions.