SYNERGEN Health Increases Berenson Oncology Revenue by 15% within 120 Days

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%