Case Study/Analysis – Summary
- The Practice was able to increase the billing steadily for the past three years but was unable to increase the revenue at the same rate
- Data analysis points to a weak collection system in place
- Significant amounts have been adjusted as un-collectible or bad-debts
- Aggressive follow-ups need to be in place to recover from insurance and patients
- High outstanding from Medicare suggests that billing may not be properly coded or billed or deductibles are not collected
- The ROI tool suggests high savings if the billing is optimized and professionally managed
Increase in Overall Revenue 5%-10%+
- Elimination of lost Charges
- Increase patient co-pay collection
- Clear identification of appointments that need to be rescheduled
- Immediate identification of outstanding patient balances
- Maximize revenue through correct coding initiatives
