Medical Billing Case Study – Small Podiatric Practice
Type of Practice
Small Practice – Podiatric Practice, founded in 1986.
When the lead physician in the practice came to Clinic Service to ask for help, the account receivable area of the practice was out of control. Collections were at 120 days and growing, and the practice had close to $100,000 in collectable revenue.
The physician had become impatient with the inability to collect outstanding revenue, and even more frustrated with the medical billing system because she was spending more time with billing, insurance regulations, and collections than she was with patients. In fact, she was so discouraged she was prepared to write off the entire amount.
The medical practice asked Clinic Service to evaluate the situation and to make recommendations for improvement. The first discovery was that the practice management/billing system was outdated and unreliable. It was also discerned that the scheduling system was cumbersome and reports were difficult to generate, and often inaccurate. A decision was made to transition to the Clinic Service C-Suite Scheduling and Practice Management system. As Clinic Service took over accounts receivables, the practice realized immediate results as aging reports improved to under 30 days.
Clinic Service reviewed the $100,000 in uncollected charges to determine the best method to collect the outstanding fees. Within 30 days, Clinic Service had collected over 70% of the $100,000 and the remaining 30% was collected in the following 30 days.
- Increased cash flow immediately by collecting $75,000 in earned income for the practice
- The scheduling procedures and software were streamlined, which improved the patient experience and increased productivity of front office staff
- New procedures and system enabled physicians to make smarter decisions based on real-time practice data and financials
- Accounts receivable went from 120 days to under 30 days
“Clinic Service immediately stepped in and took control of my accounts receivables. Much more than just a billing company, Clinic Service has acted as a true partner and business advisor as we continue to grow our practice.” – D.L.; Podiatrist