Exact Sciences Corp., a prominent molecular diagnostics company known for its revolutionary product, Cologuard, sought to streamline its order entry process to enhance efficiency and reduce operational backlogs. Access Healthcare was chosen to implement a robust order entry system, aligning with Exact Sciences’ vision of delivering seamless and timely patient care
Exact Sciences Corp. is a leading molecular diagnostics company known for its groundbreaking product, Cologuard, which transformed colorectal cancer screening. As the company expanded its product offerings, it encountered significant challenges, including escalating administrative expenses and mounting A/R backlogs due to a high volume of unresolved claims.
In the vast realm of molecular diagnostics, Exact Sciences Corp. shines as a trailblazer in the early detection of cancers. With a primary focus on preventing colorectal cancer, the company made headlines in 2014 with the groundbreaking launch of Cologuard, the world’s first stool DNA test for this fatal disease.
One of the largest providers of revenue cycle services to hospitals and healthcare systems contracted with Access Healthcare Services for inpatient DRG Coding, Inpatient CDI services, and DRG Validation from 2021. As a first step, while embarking on the transition of IP DRG coding & CDI processes to our global delivery locations, Access Healthcare established a multi-level governance and transition team. This team included the Client’s HIM leaders, facility-specific hospital staff/ HIIM team members, Access Healthcare’s team of medical coders, and clinical documentation specialists.
One of the largest providers of revenue cycle services to hospitals and healthcare systems contracted with Access Healthcare Services for delivering multi-specialty acute coding, professional coding, revenue integrity, coding audits, and coding denial management since early 2021. This case study describes how Access Healthcare enabled the customer to grow its coding operation from 0 to 500 coders.
Our client, a nationwide medical billing and software company for anesthesia practices, had challenges when it came to billing volumes and AR recovery. By adapting our best practices from years of experience, along with our quality-centric services and efficiency, we were able to overcome a surge in claims and cashflow errors in a complex payor mix with our insurance verification solution.
Backlogs are common in many steps along the revenue cycle. Whether they result from a surge of patient encounters, a lack of resources, or inefficiencies in the process, the result can be debilitating to medical practice. Charge backlogs delay claim submissions which lead to delayed reimbursement, which can skew revenue reports. In addition, delayed claims can result in timely filing denials, which cannot be appealed successfully.
Accounts Receivable backlog is not uncommon, particularly in consideration of the ever-increasing complexities of Revenue Cycle Management. While somewhat understandable, the negative impact on the business can be severe. Not only does overall financial health suffer, but for both billing companies and healthcare systems, reputations and the opportunity for growth will be compromised.
