Case Study: Prospect Medical Holdings reduces denials and improves revenue management with FinThrive A/R Optimizer

Prospect Medical cuts inpatient denial rate by 3.6% with FinThrive

Prospect Medical Holdings, a significant provider of regional healthcare services, faced challenges managing claim denials after rapid growth left them with many disparate patient accounting and billing systems. Their legacy systems failed to provide a clear picture of denials, produced false positives, and lacked consistent reporting. To address this, they partnered with FinThrive and implemented its A/R Optimizer solution.

The solution from FinThrive provided a true remaining balance, payer scorecards for better negotiation, and a reimbursement analyzer. This resulted in a measurable impact, including a reduction in their inpatient denial rate from 17.2% to 13.6% and 300-500 fewer outpatient denials per month. One facility also benefited from $10 million less in denied dollars than the previous year, greatly improving their revenue management.

Prospect Medical Holdings