Case Study

Physician Network

Growth Strategy & Expense Review

Situation

  • Existing physician practice with 400+ providers had recently expanded geographically and was experiencing reduced billing and revenue collections / per provider
  • Declining cash flow due to deteriorating average productivity of providers and lengthening of collection cycle
  • Legacy billing and collection team was delivering sub-par results vs. KPIs
  • Recent regulatory changes had created compliance challenges and potential fines

SMA Services

Strategic Review

Pricing Optimization

Business Planning

Business Transformation

Actions & Impact

  • Reviewed multiple 3rd-party physician collection groups, interviewed and selected new vendor to optimize the billing intake process and improve collection cycle
  • Assessed all non-clinical support functions and recommended opportunities for elimination, consolidation or automation
  • Analyzed clinical staff management structure and responsibilities and identified opportunities to create more producing billing outcomes
  • Educated providers on issues limiting revenue and timely collections and put education and audit processes in place to timely identify provider challenges and corrections
  • Utilized support from new physician billing/collection vendor partner to develop new regulatory compliance audits and implemented solutions to reduce exposure by practice

Results

$1.1M (16) SG&A Expenses

11% Revenue

20% EBITDA