Physician Revenue Cycle – Advice to Improve Your Bottomline

Physician Revenue Cycle exceeded Dr. Scott Schlais’s expectations as President of Fort Atkinson Emergency Physicians (FAEP), who needed to act fast.

The six-doctor emergency medicine practice had begun a drastic reorganization following severe deficiencies caused by a previous billing company.

1. Failure to deliver their full income potential due to insufficient coding knowledge.
2. Lack of understanding of their practice specialty, goals, and objectives.
3. Insufficient training or support to educate their staff when changes were required.

Dr. Schlais and his associates decided to switch to a full-service revenue cycle management firm with a consultative approach and the coding expertise needed to maximize their revenue.

HERE’S THE STORY

Physician Receives Full-Service Revenue Cycle Assessment

1. Provider Contract Review. The ebix team began by reviewing their provider contracts.  Therefore, we investigated whether maximum revenue was being received from insurance payers. This also led ebix to renegotiate insurance contracts to secure better payment terms.
2. Dedicated Team Assigned. Concurrently, ebix assigned a member from each department to form a dedicated team to audit and analyze their processes and highlight any critical areas for improvement. Missing documentation, inaccurate coding, and inconsistent processes were identified, resulting in a high rate of billing errors in urgent and emergency care services.
3. Physician Education. As a result of the audit, ebix established monthly encoding documentation and physician education sessions to provide consistent training resources and feedback. This also enabled ebix’s team to create new Urgent Care guidelines, enabling FAEP to expedite patient care and improve patient satisfaction with Urgent Care Services.

Physician Impact – Exceeded expectations and revenue goals.

1. Accounts receivable days outstanding also improved by nearly ten days.
2. With ebix, custom reports/data analytics bridged a missing communication link for FAEP.
3. 15% increase in the average reimbursement rate from three major payers.

Physician Extended Reading List:

Real Story Coding Expertise Maximizes ED Revenue PDF
Revenue Cycle Management (RCM) Service
Benefits of Choosing a Medical Coding Service
Minimize Medical Claim Denials

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Our billing story began in 1977 as a services company. ebix, Inc. has grown into a multifaceted medical management firm. We provide administrative and operational support to healthcare providers throughout the Central United States.

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