Case Study
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