Medical Billing Case Study – Rescuing an Orthopedic Practice
Orthopedic Surgery—New Practice
When a two-physician orthopedic practice opened their business at Skyridge Hospital, they decided to do their billing internally. In less than a year they quickly surmised that they wanted to have their medical billing done professionally. They also wanted to implement an EMR system so they made the decision to purchase both together in one software package. The EMR Company customized the software for the practice, provided good training, and the physicians and office staff were happy with their decision…until three months later when they realized cash flow had come to a grinding halt.
The physicians had billed $500,000 and none of it had been collected. Two successful surgeons and a staff of eight were suddenly faced with closing their doors or asking for a heroic rescue. They called the physician services team at Skyridge Hospital to see if they knew someone who could help them resolve the medical billing issues and restore cash flow. Skyridge Hospital knew that Clinic Service had a good reputation for helping medical practices improve revenue cycle management, as well as perform other rescue operations, so they called Clinic Service and explained the emergency situation to see how they could help.
Clinic Service responded immediately and met with the physicians and their staff the next day to set up triage operations.
- Step 1: Turn off the medical billing software/services components of the EMR system and install an interface that allowed the practice to use the Clinic Service medical billing system.
- Step 2: Get cash flow moving within 30 days.
- Step 3: Implement the Clinic Service triple verification processes for future billing.
- Step 4: Recover the $500,000 in previously billed, but uncollected, fees.
- The practice saw a dramatic increase in cash flow.
- Accounts receivables changed significantly and were now less than 30 days.
- Billing procedures were streamlined and increased productivity for the front office staff and for patients.
- New procedures and system enabled physicians to make smarter decisions based on real-time practice data and financials to improve revenue cycle management.
- $500,000 in previously billed, but uncollected funds was recovered within only a few months.
“Clinic Service literally saved our practice. In a short period of time they have made dramatic improvements to the financial health of our practice. They retrieved every penny of the half million dollars that the other EMR/Medical billing company couldn’t collect and streamlined our processes to make everything easier for our staff and our patients. Not only did they produce great results, they are great people to work with. I wouldn’t hesitate to recommend Clinic Service to other physicians and medical practices.” – J. Xenos, M.D., Orthopedic Surgeon