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.
Overview
Private practice in West Hollywood - CA
Specialty : Hematology/Oncology
20+ years experience in research related to multiple myeloma and other blood cancers
Clients’ Revenue per year > $4.2M
Implementation
Daily benefits verification
Daily claims submission
Follow up date based collection follow ups
Box system for document management
Cash flow forecasting reports
Weekly progress reports
Monthly Revenue analysis report
Quarterly Drug analysis
Best Practices recommendations
PQRS initiative
Real-time Analytics reports(Doctrix)
Weekly drug cost analysis
Challenges
Coding and Documentation
Reimbursements for unclassified drugs
Increasing days in A/R
Poor Visibility into RCM processes
Cash flow forecasting
Poor Customer service
Results
Improvement in 90+ Insurance AR
Consistent cash flow with forecast reports
improvement in days in A/R
Better working capital management
Best in class & compliant business processes
100% transparency into RCM processes
3% increase in the reimbursement ratio after transitioning to SGH
Fist time Payment rates were improved to 98% - 99%
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