CASE STUDY
Driving Revenue Growth and Efficiency in Primary Care with RCM Outsourcing
CLIENT PROFILE
A large independent Primary Care Group based on the west coast that provides a comprehensive suite of services to patients in their market.
THE OPPORTUNITY
The practice was transitioning from a private equity-backed employed group back to an independently owned private practice. They were looking for a qualified revenue cycle management company that could ensure their billing and collection needs as well as the Accounts Receivable follow up would be handled in conjunction with a national vendors software that would be the platform for the practices Electronic Medical Record and Practice Management System. The practice was also looking for a firm that could oversee their provider coding and education needs as well as offer provider enrollment (credentialing) services to the practice.
THE SOLUTION
MMG reviewed the historical collections and other productivity data of the practice and benchmarked the performance of the group against their peers. MMG determined that the group could improve collections and cash flow and proposed an outsourced RCM solution including coding and education support.
THE OUTCOME
The MMG billing team was instrumental in stabilizing the revenue cycle process by improving the efficiency and accuracy of the practices’ billing functions, including prior authorizations, professional service coding, claim management, and accounts receivable.
As the first year concludes, the practice RCM monthly charges and collections average between 12% and 15% higher than under their previous ownership.
The practices also benefited from the overall MMG partnerships, receiving financial and operational support that allows them to maintain their strong growth and continue providing medical services to patients within their community.