REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
July 23, 2024
FROM
ANDREW GOLDFRACH, ARMC Chief Executive Officer, Arrowhead Regional Medical Center
SUBJECT
Title
Contract with Firstsource Solutions USA, Inc. for the Provision of Secondary Placement of Accounts Receivable
End
RECOMMENDATION(S)
Recommendation
Approve contract with Firstsource Solutions USA, LLC, including a non-standard term, for the provision of secondary placement of accounts receivable for a not to exceed amount of $3,000,000, for the contract term of July 23, 2024, through July 22, 2029.
(Presenter: Andrew Goldfrach, ARMC Chief Executive Officer, 580-6150)
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COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
FINANCIAL IMPACT
Approval of this item will not result in the use of Discretionary General Funding (Net County Cost). The cost of $3,000,000 will be paid on a contingency basis as a percentage of the amount collected. Adequate appropriation and revenue are included in the Arrowhead Regional Medical Center (ARMC) 2024-25 budget and will be included in future recommended budgets.
BACKGROUND INFORMATION
The contract with Firstsource Solutions USA, Inc. (Firstsource) will allow ARMC to maximize collections by having the vendor review, follow up, and collect payment/balance on Accounts Receivable (AR) Commercial Accounts after 360 days. Firstsource will investigate and resolve outstanding claims assigned by ARMC, recover outstanding balances from insurance companies and patients, pursue denied and underpaid claims, and provide feedback on billing and collection best practices. The cost will be paid on a percentage basis ranging from 11.9% through 14.9% depending on the date of assignment.
ARMC will continue to process AR for the first 180 days. After 180 days, Commercial Accounts will continue to be assigned to the San Bernardino County Revenue Re...
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