26% reduction In DSO, Charge entry lag reduction by 60%
While the objective is clear, as the market transforms from volume to value, the path for physicians has become increasingly complex. An experienced billing company operating in the Midwest chose to support physicians who remain or become independent practitioners in the new value-based healthcare economy. That choice enables a clearly defined market approach. Yet it also creates new challenges in mastering the increasingly complex operations of serving the practice management and Revenue Cycle Management needs of independent physicians.
These new challenges not only impact the ability to provide excellent customer service, it squeezes margins for the billing company and the practices they serve. Case in point: recently cash flow had slowed. Lagging KPI trends were identified in both charging and DSO. Throwing more people at the problem was not solving it.
Enter Access Healthcare. In assessing the situation to identify the root of the problem, we discovered a need for applying advanced knowledge onsite to drive best practices, specifically in collections. The company worked with our team to leverage best practices and technology to create a new operational model and specialty role. The results included a 60% reduction in charge lag and a 26% reduction in DSO.
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