A cardiology group with different locations
Practice: A cardiology group with different locations
Business Problem: High AR value, billing errors, and inadequate reporting were hurting cash flow.
Solution: ACE PRO
Background
The practice was having issues with its productiveness and leaving money on the table. The president of the practice quickly found that the billing process was not efficient, practice staff had difficulty maintaining a good patient flow, and a high number of billing errors resulted in slow reimbursement. Claims were not being tracked effectively and some simply got lost before the practice received payment.
The ACE
ACE PRO automated their operations to get a better handle on payments and create efficiencies. We were able to meet and exceed objectives below:
- Improve in revenue cycle management as evidenced by:
- 15 – 20% decrease in Accounts/Receivable days.
- 30% decrease in rejected claims.
- Decrease in AR more than 180 days by 58%. Decrease in overall AR by 63%.
- Collect lost money prior to ACE PRO.
- Provide a better view of the practice from 16 customized levels through more effective and conclusive reporting.
Today, the cardiology group is running a fully automated billing process with zero operations downtime, AR days down to 40% and 98+% collection efficiency rate.
The president of the group said “the proof is in the numbers”, and ACE PRO proved and produced their promise.
Connect with ACE PRO. We are looking forward to creating a new success story.