Dr. Scott Schlais, President of Fort Atkinson Emergency Physicians (FAEP), needed to act fast.
- Failure to deliver FAEP’s full income potential due to insufficient coding knowledge.
- Lack of understanding of FAEP’s practice specialty, goals and objectives.
- No training or support to educate FAEP’s staff when changes were required.
Dr. Schlais and his associates decided to make a change to a full-service revenue cycle management firm with a consultative approach and the coding knowledge required to maximize their revenue.
Full-service Revenue Cycle Assessment
1. Provider Contract Review
The ebix team began by reviewing FAEP’s provider contracts to investigate if maximum revenue was being received from insurance payers. This lead ebix to also renegotiate FAEP’s insurance contracts to ensure better payment terms.
2. Dedicated Team Assigned
Concurrently, ebix assigned a member from each of their departments to form a dedicated team to audit and analyze FAEP’s processes and highlight any key areas for improvement.
Missing documentation, inaccurate coding and inconsistent processes were uncovered; leading to a high percentage of urgent care and emergency care service billing errors.
3. Physician Education
As a result of the audit, ebix established monthly encoding documentation and physician education sessions that would work to provide consistent training resources and feedback for FAEP.
This also enabled ebix’s team to create new Urgent Care guidelines which enabled FAEP to better expedite patient care and improve patient satisfaction with Urgent Care Services.
Exceeding Expectations and Revenue Goals
• Gross charges increased 26% and receipts increased 22% without increasing patient base.
• Accounts receivable days outstanding also improved by nearly 10 days.
• With ebix, custom reports/data analytics bridged a missing communication link for FAEP.
• 15% increase on the average rate of reimbursement from three major payers.
From Dr. Schlais
We were impressed with ebix’s level of expertise, not only in medical coding, but in our practice specialty. Previously we were serviced by a vendor who did not have Certified Professional Coders (CPCs) assigned to us, much less CPCs with ED sub-specialty certification. We realized this competency brought more expertise to the table, which would result in maximized revenue. We also liked the fact that ebix approaches medical billing as a team effort. They demonstrated that a full-service partnership with our practice will provide additional strategic insight.