CCR creates direct and indirect value to hospitals. CCR delivers concrete benefits for a hospital or healthcare system participating in the charged-off debt donation program.
CCR does not replace or disrupt a hospital’s current debt collection policies, procedures and timelines. Rather, we work with patient accounts (only commercial payor and self-pay) after the account has been fully charged off by the hospital’s accounting department and the debt has been classified as “uncollectable”, for accounting purposes.
Our compassionate approach in working with patients avoids aggressive revenue cycle management practices, which creates negative and damaging publicity for the hospital. This is a top priority for CCR.
Our program allows the hospital to turn uncollectable debt into a working asset in their community. CCR is committed to fund a wide range of charitable activities that benefit the local community, including funding public health programs, child development programs and donations to other qualifying local charitable organizations.
CCR also utilizes a portion of any funds recovered to work with hospitals to directly fund scholarships thus advancing nursing and technical education for hospital employees.
CCR creates a positive patient experience and enhances a hospital's reputation from a traditionally negative process.
Your patients have already been through your current collection policies and protocols. Now, for the first time, a hospital can support the financial health of a patient/community with dignity…when they need it most. This is a key provision when considering social determinants of health.
CCR also works with hospitals to create positive community success stories based on the many patients a hospital assisted and the valuable programs the hospital created. It demonstrates the hospital’s commitment to the financial health of their patients. And financial health helps to dramatically lower a patient's level of stress, thus improving their overall health outcomes.
Finally, there are financial benefits for the hospital. For-Profit hospitals could receive a tax deduction for the debt donation to CCR. Not-for-profit hospitals can help meet their important ACA Community Benefit requirements and support retention of the hospital’s tax-exempt status.
Tom Simonson, CEO of Merit Financial Solutions presents Doug Smith, CEO of Stephens Memorial Hospital with the CIF check from CCR.
Helping patients get back on their feet, financially, minimizes ongoing financial stress. This results in families that are more stable and thus able to achieve better health outcomes – especially for children.
Reduce operating expenses for administration/ management of charged-off bad debt.
Helping patients get back on their feet financially through compassionate assistance improves the hospital/patient relationship, encourages patients to maintain/improve their health status, and makes the patient more capable of paying future medical debts that might be incurred.
CCR funds advanced educational programs for employees wanting to build new skills and capabilities.
CCR Community Investment Fund (CIF) stimulates involvement and growth of a wide range of activities and non-profit charities to create more vibrant communities for the benefit of patients, employees and the hospital.
Healthcare organizations face evolving mass media and social media environments that scrutinize debt collection practices. Donating charged off delinquent debt to CCR enhances the healthcare provider’s reputation and minimizes the risk for negative media.
Patients will continue hospital visits as needed and will not feel guilt or embarrassment due to having old debt accounts on their hospital record. Their continuum of care will not be halted, for themselves or their family, allowing them to live their healthiest life.