How a Community Hospital Employed Physician Group Decreased Credentialing Expenses and Improved Collections
A community hospital employed physician group of 20 providers, including various specialties and a residency program.
Despite operating well in other aspects of their business, this physician group struggled with collecting for professional services. In previous years, the group had written off over 25% of their accounts receivable in unpaid claims due to various issues.
As an initial engagement, MMG conducted a thorough Revenue Cycle Assessment, which uncovered multiple issues related to credentialing, coding, timely filing, accounts receivable follow up, charge capture, and collecting at the time of service for co-pays and patient balances.
As a follow-up engagement, MMG assumed responsibility for provider credentialing, ensuring that each provider was properly enrolled at the appropriate locations with all third-party payers.
Ultimately, the client contracted with MMG to provide full revenue cycle management services, including outsource responsibility for all billing and collections and implementing targeted projects to improve overall RCM performance.
Thanks to improvements in both execution and administration, this client has experienced nearly a 7% increase in collections on same-charge volumes, eliminated its issue with write-offs, lowered credentialing costs by 80% and decreased its overall cost to collect each dollar.