Close the gap between care and reimbursement.

Size: px

Start display at page:

Download "Close the gap between care and reimbursement."

Bartholomew Bryant
7 years ago
Views:

1 Close the gap between care and reimbursement.

2 Focus on care, rather than collections

3 Efficiency is critical to building value within a physician organization. Large integrated physician organizations function most efficiently and effectively when they are committed to both care delivery and the financial effectiveness of their organization. Whether part of an independent physician practice or a larger healthcare system, physicians want to spend time caring for patients with the peace of mind that their receivables are being managed appropriately. In today s ever-changing reimbursement environment, physician organizations are struggling to cope with multiple payers and shifting reimbursement regulations. Healthcare billing processes are becoming increasingly complex, causing collections to fall behind, resulting in charges becoming more difficult to collect, and physicians having to wait longer and longer to be paid. Despite these challenges, many practices do not seek outside help with billing and collections because they are reluctant to lose control of their data. I m not sure we would be the practice we are today if it weren t for you our billing and collections partner. Dr. Pete Sallay Methodist Sports Medicine/ The Orthopedic Specialists, Indianapolis

4 Why partner with Alleviant? Alleviant is a knowledgeable, reliable, big-picture problem solver and business partner, not only an outsource vendor. We deploy solutions and the business intelligence necessary for accurate claims submission and improved cash collections. Our approach is to team with your organization and leverage your existing technology to deliver a billing and collections solution that is more effective than your current model. By using your existing systems, we create a consistent and scalable platform, we streamline the on-boarding process, and minimize the workflow impact. Most importantly, our approach allows you to maintain control of your data, and replace fixed costs with variable costs in a financial model that is more predictable and manageable for your business over time. Bottom-line impact Improved revenue cycle process Increased cash flow, bills processed accurately, reduced number of rejected claims and as a result, faster payment Improved efficiency of valuable clinical resources Improved patient care as staff spends more face time building relationships Reduced need for full-time, in-house staff Savings in hiring, training, benefit plans and capital equipment costs Freed-up space previously used for billing Room for additional revenue-generating services such as MRI, lab and rehab Alleviant offers you a comprehensive billing and collections solution that drives improved financial performance, alleviates a host of ills, and enables your physicians to focus on care for their patients and the communities that they serve. Judy Longworth Community Orthopedic Medical Group, Mission Viejo, CA

5 Assuming responsibility for more of your revenue cycle. As illustrated in the chart below, Alleviant can effectively deliver central billing office operations within nine key components of a practice s revenue cycle. By partnering with you and your staff, Alleviant delivers a consistient and focused execution that is designed to shorten the revenue cycle and increase workflow for services rendered. Scheduling Patient Intake Physician Completion of Charge Ticket & Charge Entry Coding & Charge Entry Bill Processing Claim Quality Assurance Claim Submissions Denial Mgt Payment Posting A/R Follow Up Patient Collections Revenue Cycle Analytics Practice responsibility Alleviant capability Our services Billing and Collections Claim Submissions Charge Entry and Payment Posting Denial Management Patient Collections Credentialing Revenue Cycle Analytics Revenue Cycle Opportunity Assessment Analysis of Current Revenue Cycle Claim Coding Provide Access to Team of Certified Coders Documentation Review for Physician Coding Accuracy Regular Coding Audits Provider Feedback to Improve Process Provider Training Upon Request Additional Technology Offerings EDI/Clearinghouse Practice Management System Recommendations for Improvements Identification/Explanation of Best Option

6 Proof of demonstrated value. Both physician organizations had climbing accounts receivable (A/R) and increasing days in A/R as a result of increasing complexities and claim rejections from payers. Each group had different practice management systems that the Alleviant staff learned and utilized. Our team used the client s existing practice management systems to tackle these issues and apply solutions to submit accurate claims, thereby minimizing denials and reversing the negative cash trends and results. In both cases, partnering with Alleviant accelerated the cash cycle and increased cash flow to clients. Practice A A multi-specialty, independent physician organization with 100+ providers in the Midwest. Success in reducing A/R Practice B An integrated physician organization with 120 providers in the Southwest. Success in collecting faster Aging: 0 to 60 days Aging: 0 to 60 days 55.65% 48.02% 82.00% 69.10% 0% 100% 0% 100% Aging: 61 days + Aging: 61 days % 51.98% 18.00% 30.90% 0% 100% 0% 100% Days in A/R Gross collection ratio* 79.5 days days 36.41% 44.10% 0% 100% Before Alleviant After 36 months with Alleviant *Gross collection ratio indicates the yield of your practice or what you collect for every dollar billed after discounts and contractual write-offs. This ratio is affected by the fee schedule used by the practice and its payer mix.

7 Third-party performance power. Beyond being experts in dealing with your billing and collections needs, Alleviant is powered by Navigant Healthcare, a practice within Navigant Consulting, Inc. with more than 500 seasoned professionals and industry thought leaders who assist health systems, physician practice groups, and payers in designing, developing, and implementing integrated solutions that help to create high-performing healthcare organizations. Take the next step. Perhaps you wonder if you need a better way to handle billing and collections for your new or existing physician organizations. Or maybe you know you do. Wherever you are on your journey to creating a high-performing physician organization, your partners at Alleviant can help you and your physicians institute a sustainable revenue cycle solution. Contact John Boland john.boland@alleviant.com Alex Hunter alex.hunter@alleviant.com POWERED BY NAVIGANT HEALTHCARE Rob Moss rob.moss@alleviant.com

8 alleviant.com

MEDICAL BILLING AND PRE-FUNDING. Is Now The Time to Outsource Your Medical Billing? (877) 386-9728 NobilityRCM.com

MEDICAL BILLING AND PRE-FUNDING. Is Now The Time to Outsource Your Medical Billing? (877) 386-9728 NobilityRCM.com Is Now The Time to Outsource Your Medical Billing? Is Now the Time to Outsource Your Medical Billing? Outsourced medical billing has come into favor as medical practices face newer problems thanks to changing