Streamlining billing increases your money

 

ABOUT

The client is associated with an endoscopy center in New York.

CHALLENGES

1) Lag in sending charges. Administrators struggled to coordinate with doctors to submit charges in time resulting in losses due to timely filing.
2) Denials from non-participating insurances. While insurances encouraged negotiations earlier, they stopped paying non-par claims after a few years creating losses for the center through anesthesia claims.

WHAT WE DID

1) Streamlining billing: We worked daily with the endoscopy center’s staff to ensure we receive charges in time. Over a period of time, the process of billing was slowly streamlined resulting in timely claim submissions and payments.
2) Contracts with insurances: We worked with two of the top 5 insurances to help the center achieve contracting status. This resulted in an immediate boost in revenues saved from losses due to a non-par status. Electronic remittances (ERAs) and Electronic fund transfers (EFTs) ensure quick payments from these insurances.

LIFE WITH NEXTSERVICES

Through persistence and focus towards a streamlined billing process, insurance Accounts Receivable (A/R) above 90 days is maintained at 7%, significantly lower than industry averages of 14%.