Re-establishing the lost trust in outsourcing with an Asthma & Allergy practice in Virginia. Medical Billing outsourcing and Account Receivables (AR).
Our client is a well-established Asthma & Allergy practice located in Virginia.
Due to a previous negative outsourcing experience, the client was hesitant and reluctant to revert to outsourcing again. Their experience left them with many write-offs without even attempts to appeal or resubmit corrected claims with proper coding, which strongly impacted their revenue.
Even the transition to outsourcing then was not handled professionally since the previous billing service would
not accommodate billing on the clients’ existing software. The client faced several struggles, complications and pending billing transactions. Their AR was long-standing
for over three years, containing patient receivables as well as insurance receivables.
The office manager was struggling to maintain claims submissions, getting all EOBs as well as patient monies applied in a timely manner.
The in-house billing staff had no time to follow up on the AR. Monthly statements were not being generated thus resulting that the patient AR was not adequately followed up, leaving extremely outstanding patient balances.
Centro had a very challenging task, not only to sort out the clients’ business situation but to also gain the clients’ trust. That being in mind, Centro decided to develop an early training plan for the team in order to ensure a smooth transition using the clients’ software.
Our goal was to set up a fast and forceful approach to recoup as much outstanding revenue as possible before timely filing.
- Creating a special task force Scheduling exceptional hours for this task force for 1 week, just to guarantee that smooth transition
- Review all patient AR and insurance AR
- Clear out old AR and replace with a patient collection process and mandatory statements generated along with final notices to patients with outstanding balances
- Billing team to begin eligibility process for patient insurance
- Centro’s Client Relationship Manager obtained a training log on credentials for the clients’ software prior to launch.
- Our billing task force team was able to self-train within a week’s period and made sure that there was no billing disruption
- A swift approach to handle the old AR was taken by taking a team to strictly clean up pending AR which resulted in over a 50% reduction of AR
- Our billing team verified eligibility and obtained benefits and were able to minimize front desk efforts, ensured front-up payments from patients and properly billed insurance
- Our billing team caught all claim errors and made coding corrections which reduced denied claims and rejections
- We were able to increase the clients’ monthly revenue by 30%
- We implemented a collection policy for patient collections to ensure that patient AR was properly followed up Clients’ AR remains in the 60 days or less category