Case Study Scenario: A well-known autonomous medical practice in the US was seeking an outsourcing partner to deliver accurate medical billing services in an aim to streamline their revenue cycle
A leading self-governing medical practice in the US with its own lab and a clinic
The renowned self-governing medical practice wanted to outsource medical billing services as a way to improve and streamline their monetary flow and cycle of revenue, decreasing the error rates in medical billing and claims, leading to increased output.
Challenges We Faced During Project
We had to come up with a solution for the medical practitioner, who saw cessation for their expenses, resulting from piled up outstanding bills and due to use of an obsolete practice management system. They had to address various issues related to claims processing and rejections, as proper medical documents were not filed. At the same time, there were outstanding payments to be cleared or if they had been cleared details had to be posted into the system appropriately, thus streamlining operations. They also had to ensure that all the billing was accurate and in place.
We made sure that our medical billing services were accurate and free from all kinds of errors. Our process was simple and convenient, ensuring quality service. We made sure:
- To assign skilled professionals with expertise and knowledge in handling huge volume of medical billing and claims
- To provide an efficient medical billing platform that is cost effective
- To obtain the latest, complete and accurate client details that is valid
- To identify and analyse the issue completely
- To provide plausible solutions bringing down the error rates
- To provide a specific deadline to resolve the issue
- To follow up after the resolution ensuring rise in productivity
- In case of claims billed or filed incorrectly, we ensured that the filing type was in compliance with the standard insurance enrolment system
- Updated the system with the claimant’s latest contact details
It was seen that by availing our medical billing services the medical practice streamlined its operations effectively, thus reducing the time they spend on managing invoices and outstanding payments by almost 45% in less than 50 days. The filing system also improved with better accuracy rate, thus leaving the medical professionals with more time to spend on their core responsibility, which is patient care. It was seen that while error rates had reduced to less than 1%, productivity had gone up.