Life is Like Accounting, Coding Makes Everything Balanced

As an experienced orthopedic Practice Administrator, Susan knew that something had to change in her back-office processes. Frustrated and overwhelmed with late payments, a mounting pile of denials, and extended time to collect outstanding accounts receivable, she was ready to focus on finding solutions. In particular, she needed help with coding and billing.

Here’s the coding story

Susan’s seasoned staff provided outstanding clinical care while handling a full patient schedule. There was no extra time from the patient experience to respond to denials or claim issues. What quickly became evident was the need for a more comprehensive practice management application and the right professional services to support the medical coding and billing process. Susan’s trusted (outsourced) Accountant recommended that she call ebix, Inc.  Her Accountant underscored the financial and industry expertise with ebix, Inc. was exactly what she needed to turn her revenue cycle management toward a profitable future.

Building the bottom line

The first step was transitioning Dr. Osbourne’s orthopedic practice to ebix, Inc. hosted practice management services. Initial analysis and benchmarking helped the team of ebix, Inc. identify three opportunities to improve the practice’s efficiency immediately. Once their data had been converted, utilizing the straightforward Document Retrieval System was a breeze. The digital migration eliminated the need for IT support and maintenance.

The second objective was to enhance the coding and billing process, claim scrubbing, and deploying a 90-day patient collections strategy. Dr. Osbourne’s practice is now fully equipped to receive higher reimbursements and expedite collections quickly after a successful setup process and seamless data conversion in just two weeks.

Additionally, ebix, Inc. updated Dr. Osbourne’s credentialing information that had prevented proper payment with specific payers.

The Impact

The dramatic reduction in accounts receivable is just one-way ebix, Inc. worked to improve Dr. Osbourne’s finances. Before working with ebix, Inc., reimbursements were inconsistent and sometimes non-existent, and ebix, Inc. efficiently cleaned up old accounts receivable and improved the payment process without the expense of hiring additional staff. The move to the ebix-hosted services has contributed to increased revenue, improved coding accuracy, and better collections.

Monthly reporting has also contributed to improvements. The support of receiving detailed performance analysis has helped to improve how Susan manages the practice finances. Regularly scheduled reporting provides Susan with a monthly recap of the billing cycle results.

Dr. Osbourne has also experienced some improvements! He now enjoys his time away from the office, for family and golf, without the stress of falling behind and the aggravation of catching up. With ebix professional services, he is confident that the back office processing and electronic claims capability is constantly working to help him move his practice forward.

Just like Accounting, coding makes everything balanced.

Extended Realist List:

Real Story Everything Must be Balanced PDF
Revenue Cycle Management
Benefits of Choosing a Coding  Billing Service