Just one Success Story with our Billing "RCM - (Revenue Cycle Management)" Services!
Increase Revenue, Gain Freedom:
"I don't have to worry about my billing anymore."
Our Billing (RCM) Services at Northeast Texas Women's Health
Growing Practice, Growing Expenses
Dr. Christopher Mason and his wife Melissa discovered they had a bit of a problem. The practice Dr. Mason had started, Northeast Texas Women's Health, where his wife also works serving as the office manager, was growing rapidly. They had rented a new, larger office space to accommodate the higher patient volume. They had hired more staff. However, as Melissa puts it, "Three times the office space means three times the rent."
The practice bank account was getting thin.
With higher patient volumes and billing processes more complex than ever, the Masons were getting behind on billing. "We bill office, surgical, and Medicaid," says Melissa. "To help keep up, (Dr. Mason) offered to take on the office billing. Besides having to see patients and do surgery and all that, he also had to take on the responsibilities of billing, so that is what we would do at night. Instead of having family time, we would sit at night and bill."
Finding a New Solution
Luckily, Melissa and Dr. Mason found their relief at the User Conference in 2015, when they attended a class on Revenue Cycle Management services. Northeast Texas Women's Health signed on with Revenue Cycle Management services in February of 2016 and were up-and-running by mid-April. "(The implementation process) was really simple and I really appreciated the communication that was involved," says Melissa. "If I wanted to talk to anyone about anything, everyone was available for me."
The impact of RCM was felt almost immediately.
* The practice's bank balance grew from $20,000 to over $300,000.
* Average days in AR dropped from over 56 days to just under 30.
* Current AR (0-30 days) rose from 16% to 48%.
* Total AR decreased by 29% and payments increased 8%.
* The practice is also seeing 19% more patients!
Melissa Mason was pleasantly surprised. "My husband keeps telling me 'I told you so'," she says, "since I was the one reluctant to do it." Her reluctance came from a place of control. After adopting RCM, Melissa is still in control. "Just because someone else is doing it," she says, "doesn't mean you don't have your hands in it anymore."
Days in AR decreased 29%
Payments increased 8%
Patient volume increased 19%
DAR dropped below 30 days
AR (0-30) increased 16% to 48%
A Healthy Outlook
So, how have these results affected Northeast Texas Women's Health? For one, cash flow has steadied.
"I have money in the bank and I don't have to worry about paying my employees," says Melissa. In addition, Melissa says that she and Dr. Mason have regained their evenings at home. "We have a lot more time to devote to other projects. (Dr. Mason) doesn't have to sit at night and bill anymore." All in all, she sums up Northeast Texas Women's Health and their experience with RCM with a relieved sigh: "I don't have to worry about billing anymore."
Call Today at 973-256-1998 x 506 to setup a FREE consultation with our RCM professionals!