Change to Outsourced Billing Improves Collections by 10%
A surgical practice was struggling to manage its billing staff, with the Office Manager spending too much time assessing whether her employees were collecting what they should.
Once we came on board, we discovered fees that were set below the local payment rates and coding practices which did not follow payer guidelines. The correction of these issues, combined with improved attentiveness to the billing process, resulted in a decrease in Days in AR from 29 to 18 and a 10% improvement in the collection rate.
The physicians also received monthly reports with detailed information which helped them better understand the financial status of their Practice.
An area hospital was presented with an opportunity to quickly grow a physician network but didn’t have the knowledge or resources to handle the billing. On the advice of local physicians, the hospital turned to us for what started as a short-term billing arrangement but instead has lasted several years.
Our ability to provide cost-effective services, our knowledge of how to bill physicians in a hospital environment, our capability to respond quickly to changes in the network, and our skill in generating and analyzing data all have resulted in a partnership that goes beyond traditional billing services.
Our emphasis on collecting every dollar has allowed the network to continue to grow, meeting the strategic needs of the hospital.
Switching to Strategic Solutions Improved Practice's Bottom Line
A surgical practice, which outsourced billing, was concerned not only about its collection rate but also with its billing company’s inability to provide the information needed to manage the practice.
The decision to switch to Strategic resulted in an improved collection rate, crucial during a period of declining charges.
The information we provided also allowed the physicians to improve their coding practices, better understand their reimbursements and maximize their reimbursement while still conforming with payer guidelines.
The Launch of a Successful Solo Practice
A physician made the decision to leave his group and start his own practice. He retained Strategic Solutions for both start-up and billing. The practice has outperformed its revenue projections and has added staff.
We continue to meet with the physician monthly to provide key information on productivity and reimbursement, which he utilizes to improve his financial performance.
In an environment where physicians are joining larger organizations, this physician has proven that with the right management support, the small independent practice can still be successful.
Podiatry Billing Turn-Around
A podiatrist utilizing another billing company was concerned about his receipts, which were lower than his colleagues. He came to Strategic after speaking with our clients in the community.
After taking over his billing we were able to increase his receipts to match the industry norm, which improved his take-home pay and allowed him to shift his focus to the practice of medicine.