Revenue Cycle Management Blog | GroupOne Health Source

GroupOne Helped These Practices Raise Monthly Revenue By 32%

Written by Kaitlyn Houseman | November 9, 2012

According to a recent study, GroupOne Health Source’s staff of medical billing experts, which includes certified coders and reimbursement specialists, has helped numerous medical practices of various specialties and sizes generate, on average, a 32% increase in monthly collections.

The problem:

The electronic medical records (EMR) marketplace is a crowded place. 333 vendors of complete EHRs for ambulatory care have battled for market share and had at least one customer attest to having met the Meaningful Use criteria under the Medicare EHR incentive payment program, according to a federal database.

Such a wide variety of choices makes the task of finding and selecting the right system a struggle for the practitioners, too.

"Really, what I need is just somebody to tell me what I need to get," said Dr. Terri Strassburger, who is retired from her own practice but manages a two-physician pulmonary and critical-care office-based practice in Alexandria, Va., for her husband and his partner. Her duties include helping them pick an EHR system.

According to the federal data, from April 2011 through August of this year, 90,295 physicians and other eligible professionals working in ambulatory care have used complete EHRs to attest to having met the Medicare meaningful-use criteria. (Data from the Medicaid EHR incentive programs is not yet available from the states.)

 

Many of these EMR vendors are also entering the business of providing outsource revenue cycle management services as an add-on benefit to the EMR system.  The sophisticated bundled packages, options, and listings of services offered can be confusing for most physicians.  Common questions include:

  • What is the true cost of your service?
  • How much experience does your staff have?
  • What happens to my current billing staff?
  • Is it possible I will lose money?
  • How can I improve my overall net collections?

The Solution:

According to a recent study, GroupOne Health Source’s staff of medical billing experts, which includes certified coders,  reimbursement specialists, and EHR experts, has helped numerous medical practices of various specialties and sizes generate a 32% increase in monthly collections on average.  GroupOne’s billing services are designed specifically for EHR users that are willing to put in place guidelines for best practices.  These guidelines assist in exceeding expectations set for increasing collections. 

The practices involved in the analysis had previously implemented an EHR system and were either previously working with another billing company or doing the billing in-house prior to partnering with GroupOne for revenue cycle management (RCM)/billing services.  For this study, total collections for the 6 months prior to teaming up with GroupOne were compared to the total collections for the first 6 months after GroupOne started providing RCM/billing services.  

 

The GroupOne Billing Center will help you take control of claims management processes and your entire practice workflow. Our EMR billing and coding services eliminate unnecessary claim denials and delays through a complete integration of workflow, billing and reimbursement management. Along with a powerful electronic medical records package, this enables us to communicate effectively with your staff and third party payors. Clean claims and a practice-specific rules engine will dramatically increase your bottom line.

When shopping for an EMR or revenue cycle management service, it is important to consider all potential variables that make your practice so unique.  Want more information?  Schedule a free consultation today with a GroupOne expert.  If we think we can help your practice, we can discuss some easy next steps to improve collections.  If your revenue cycle management workflow is working optimally, we will not solicit your business.

The consultation is free.  Contact us today.