When results are so good, you just have to share. Well we are in one of those situations. With the increasing difficulty of Physicians having on-staff Medical Billers being able to keep up with the workload properly, the complexity of navigating the commercial payers and the ability of Physicians or Office Managers to properly manage and scrutinize the quality of their work, we just don't always see great results in those clinics. We do a lot of Medical Billing Audits and we see have seen just about everything, but there are occasionally surprises. When we find great results, we are happy to share them with the client and let them know that their Biller is doing great. When we find that their staff is cutting corners or not following up on A/R properly, we report that as well. We call it as we see it.
This is a special case though. When Nexsys Billing & Practice Management takes on an account, we always audit what was done before we took over and more accurately, what was "not" done before we took over. In 22 years of business we have some great data on what we can expect when taking over a new client. Generally we increase their revenues between 6% on the low side to about 15% on the high side. We have had a few Practice's that we have increased as much as 22% but generally around 10-15% is a good expectation.
Until one day, recently we took on a Clinic that was not keeping up with their posting, their A/R follow up and their billing was not timely. We knew right away that we could improve this clinic. It was all there in the numbers and specifically the A/R and Posting, which go hand and hand. But we never dreamed we would see results this good. We Benchmarked them on the 6 months prior to our team coming aboard. After 4 months we have increased their Medical Billing Revenues 75%. This was of course clean up as well as a stabilization of cash flow and putting in place proper procedures and protocols for ensuring the timely and maximum cash flow that the Clinic was generating. Simply put, we aligned the Cash Flow with the work being performed by the Doctor. If you eliminate the leaks in revenue, the Clinic will be more efficient and sustainable. This helps ensure that they also stay INDEPENDENT. Simply working harder and seeing more patients will only lead to burnout and selling out to a Hospital Foundation or Private Equity. Stay lean, efficient and pull all the potential out of the clinic you can and you will be able to do well and more importantly, stay INDEPENDENT.
