15 Jul Whitepaper On the Success at a Large Medical Billing Company
A large Northern California billing company partnered with PatientlySpeaking to help in their relationship with the practices they support. They became a white-labeled reseller of the Appointment Reminder service and began utilizing the A/R Patient Collection platform as a part of their RCM offering. The impact on their business has been significant.
With the rapid increase in Patient A/R, they have had to ramp up that component of their overall collection process. The A/R Patient Collection offering from PatientlySpeaking is much more then automated calls. For the RCM specialists, the platform brings together a rules based workflow engine and combines that with true Business Intelligence. The result – a user friendly portal that provides all of the levers necessary to adjust your work load to meet each day’s staffing levels along with the management reporting to pinpoint how to make the most of that workforce – every day.
Reaching out to hundreds of patients daily, consistently, is one of the advantages of this offering, but the time/cost savings goes way beyond the calling process. It starts with the automatic review of every practice’s patient A/R – every single day. Using a series of rules based levers, the company is able to – on a practice by practice basis – receive a daily report of which patients will be called today for collections. This alone has saved headcount, not to mention the increased accuracy. A quick review of the automatically generated report allows the RCM specialist to determine if certain patients should not be called. These cancellations can be entered straight into the portal.
Throughout the day, the PatientlySpeaking engine makes the calls. The timing of the calls is completely controllable at the practice level via the portal. The inbound phone line for patients who wish to make a payment is defined via the portal at the practice level. This feature allows for calls to be sent to different office locations, different ACD’s or even directly to the practice. If the staff gets behind, with a simple entry into the portal, the system can throttle back the calls. If someone is sick or on vacation, no problem. Simply adjust the volume to be worked. And if a call that should have been “worked” today is not, it flows over into tomorrow’s workload. Automatically.
So how did this work out for this Northern California RCM team? A 20% increase in overall collections with a 50% decrease in headcount. Pretty amazing results as they also continue to experience significant client growth. The control and structure brought to their business thru the partnership with the PatientlySpeaking team, is a critical factor in their success.
They also are providing the Appointment Reminder capability to a number of their practices as well. The ability to interface with virtually any PM product to seamlessly communicate via text or calls is the key reason they began to offer the solution. This additional offering has helped the company with the “stickiness” of their practices. Having one more essential component of the office management tasks now a part of their arsenal makes them even more valuable to the practice and therefore more difficult to easily replace.