Client Overview:
A small pediatric practice in Florida faced challenges maintaining consistent revenue collections due to coding errors and delayed insurance payments.
Challenges Faced:
- Inconsistent collections and fluctuating monthly revenue
- High rejection rates for pediatric billing
- Lengthy claim review processes
PhysiAssist’s Plan of Action:
- Optimized Billing Process: We revamped the billing system to ensure that all claims were submitted correctly and on time.
- Coding Accuracy: Provided real-time coding audits and updates, training staff to meet payer-specific coding standards.
- Improved Communication: Established automated reminders and follow-ups for patients with outstanding balances.
- Claim Tracking System: Implemented a real-time claim tracking system to closely monitor the progress of all submissions.
Results:
- Increased monthly collections to $150K
- Reduced claim rejections by 25%
- Improved payment turnaround by optimizing billing workflows