Deacon Pittman, Director of Sales of First Financial Asset Management (FFAM360) was Featured on Receivables Roundtable, a Video Production for the Accounts Receivable Management Industry Created and Published by Receivables Info.
Deacon and Adam had a lengthy conversation about one of the biggest challenges that hospitals and health care systems face; getting patients their refunds. Are paper checks really the most efficient, cost-effective, patient-preferred, and compliant manner for getting patients their money?
The seven steps of the revenue cycle include pre-registration, registration, charge capture, claim submission, remittance processing, insurance follow-up, and patient collections. As a veteran of the revenue healthcare cycle sales, Deacon has worked with clients and consumers for 15 years. Due to the nature of regulations surrounding healthcare, Deacon says that for every refund check that goes out, the hospital typically spends more checking on that refund than the refund amount.
“Historically, it’s always been a pain point. There are costs associated with the physical manufacture of the check and costs with the postage,” says Deacon Pittman during his talk with Adam. “Someone has to follow up with whether or not the check has been cashed. There is quite a bit of reconciliation every time one of these checks goes out.”
About Receivables Info
The Receivables Info team is led by receivables management industry veterans who wanted to create a website for the industry, by the industry. Their goal is to provide a voice to high-quality debt buyers, collection agencies, law firms, and industry veterans to share information about their businesses and their place within the marketplace and the community. The website provides relevant news alerts, articles, videos, and other receivables-related information to industry partners and colleagues around the industry and the globe. Receivables Info is also home to financial education resources for consumers through series like Money Chat.
About First Financial Asset Management (FFAM360)
The FFAM360 Alliance of companies deploys world-class people, operations, and technology to deliver revenue cycle solutions to their clients that optimize their credit and revenue lifecycles. Founded in 2002 with the vision of creating a best-in-class organization that provides comprehensive solutions across the Insurance Subrogation, Healthcare RCM, Financial Services, and Human Resource Staffing sectors, First Financial Asset Management has achieved many significant awards and recognitions including being honored by the Women’s Business Enterprise National Council (WBENC) as a Certified Women-Owned Business Enterprise. First Financial Asset Management is headquartered just outside Atlanta, GA, with additional offices in Phoenix, AZ, and Paso Robles, CA.