How a seven-physician urology practice streamlined workflows to increase their collections rate.
A West Coast Urology practice consisting of seven physicians and three advanced practice providers.
WHAT WE DID
The MMG team was engaged to provide solutions that would not only help the practice in the short-term but would also set them up for sustainable success moving forward.
While this seven-physician practice was producing strong outputs in terms of patient volume and quality of care, they were struggling to keep up with provider volumes and achieve a high collections rate. Disjointed workflows compounded the issue, making it difficult to identify key areas of opportunity, yet alone address those areas to produce change.
The The MMG team was engaged to provide solutions that would not only help the practice in the short-term but would also set them up for sustainable success moving forward. To start, MMG provided detailed reports which clearly highlighted areas of opportunity to increase efficiency. The MMG team implemented time limits for claim processing and, working closely with the practice’s team and staff, established streamlined workflows. Lastly, the team offered educational sessions to the providers, with customized instruction and consistent check-ins to review progress and answer questions.
Thanks to the hands-on support of the MMG team, the Urology practice was able to successfully decrease their A/R over 90 days nearly every month between June 2020 and February 2021 and increase their 2020 payments by $1.8M over 2019. Collections percentage increased by 11 percent, while overall Cost to Collect decreased.
Monthly A/R Over 90 Days: 2020 and 2021
*November A/R was higher than previous monthly because of J0775 wastage that was billed in November for $95,200.
**Corrections were made during March and April of 2021 which resulted in minor increase in March
Annual Collections Overview: 2019 and 2020
Best of all, the team was equipped with the tools and knowledge needed to maintain these results over time, setting the practice up for long-term success and stability.