Impact Healthcare Services, a Metropolitan Chicago Healthcare Council (MCHC) company, announced a partnership with ARxChange to strengthen the financial performance of the more than 170 hospitals and health care organizations throughout the metropolitan Chicago marketplace.
As highlighted in Forbes, Inside Patient Finance and HFMA, the ARxChange is the nation’s largest medical receivables marketplace. It organizes receivables in a central repository, corrects inaccurate patient demographic information, values each account, and then allows hospitals to redeem or “clear” all, or selected receivables, for their current cash value in real-time, all under compliant and safeguarded servicing terms. In doing so, the ARxChange system transforms outmoded accounts receivables collections processes and strengthens the financial performance of hospitals and health systems.
“ARxChange opens an additional lane for receivables performance, a fast-track or superhighway of sorts for more predictable, immediate, and guaranteed returns under hospital sanctioned and safeguarded servicing terms,” said Carl Pellettieri, Principal, Impact Healthcare Services. By launching a revenue-generating member collaboration opportunity, the ARxChange can revolutionize the financial experience for MCHC member hospitals throughout the metropolitan Chicago and tri-state area.
“Together with MCHC and Impact Health Services, we’ll drive competitive performance advantages, improve cash flows and create sustainable working capital solutions throughout the marketplace,”
Impact Healthcare Services will be holding a series of webinars for MCHC membership throughout the Summer to learn more specifics about the ARxChange and how this approach to receivables management can impact the financial strength of their facilities. The discussion will include the advanced techniques, metrics and valuation approaches used by ARxChange to evaluate and strengthen receivables performance.
With over $13 billion in listings, ARxChange (owned and operated by TriCap Technology Group, LLC) is the nation’s largest and most robust marketplace for medical debt and receivables in the US. The ARxChange system is recognized nationally for transforming outmoded accounts receivables collections processes and for strengthening the financial performance of hospitals and health systems. TriCap also holds the patents and intellectual property rights on the most essential processes used throughout the US consumer debt marketplace to organize, rank, value and trade accounts receivables, including health care.
About Metropolitan Chicago Healthcare Council
Metropolitan Chicago Healthcare Council is a membership and service association comprising more than 170 hospitals and health care organizations working together, since 1935, to improve the delivery of health care services in the Chicago area.
The Council’s Institutional members consist of hospitals (and their integrated delivery systems) in the eight-county Chicago area. Associate members include hospitals outside these counties, as well as physician groups, nursing homes, outpatient treatment centers, insurers, medical schools and other health care organizations.
About Impact Health Services
Impact Healthcare, a Metropolitan Chicago Healthcare Council company, is an advisory services firm, designed to improve margins and leverage resources through specifically tailored solutions. Impact partners with best-in-class companies in various revenue cycle functional categories to improve financial performance and operations.