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Privately held Orthopedic group in Nevada, specialty: Orthopedic (Joint Replacement, Spine Care, Pain Management, Physical Therapy, Open MRI, Trauma Fracture Care, Upper Extremity Surgery, Sports Medicine, Etc.) and over 50-years of history of providing the highest quality orthopedic services for patients throughout Nevada and clients’ Revenue per year > $20M (2020)
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An average of a 7-day delay in claim submission, coding and Documentation, increase in the 90+ Insurance AR – 40% on average, increasing days in AR – 49 Days on average, time of Service patient collections, payment portal integration with Billing system and Patient statement mailing systems and transition from outdated Practice Management System to new Practice Management System.
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Lack of integration between the Healthcare Billing System & Accounting Systems, manual workflow processes, inflated administrative costs for the oversight and management of the process, lack of electronic payment methods result in further payment delays, solution must be PCI Compliant and missing consolidated view of invoice status.
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Client struggled to get patients to adopt initial payment plans. Additional pain points were growing in A/R management, both for current and aging payments as well as poor customer experience.
Facing challenges with high insurance and patient aged receivables along with total days in AR at 137, a remote cardiac monitoring company...
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Challenged with cash flow issues, decreasing revenue and increasing accounts receivables, Berenson Oncology approached SYNERGEN Health for a no-cost, no-obligation benchmarking assessment of its revenue cycle processes.
Delayed claim submissions, unorganized A/R follow ups, imprecise transaction posting and lack of visibility. Resultantly – below par collection rates, snowballing A/R and plummeting revenue. These are few of the complications that the were facing...
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