Turnaround of a Hospitalist Group

Background

45 physician hospitalist group in Dallas, TX experienced a decline in revenue as well as mounting accounts receivable.

Transition

Analysis - Iris-Health conducted an analysis between the group's previous charge capture and billing systems to pinpoint charge leakage. Accounts receivable were also analyzed to uncover reasons for unpaid and underpaid claims.

Missed Billing - Roughly 16% of the visits were lost between the previous charge capture and billing systems. Missed visits were then loaded into Iris-Health's platform and billed out right away.

Accounts Receivable - Another 8% of the claims were unpaid or underpaid. These claims were loaded into Iris-Health's platform as well and billed out immediately.

Results

  • Implemented Iris-Health RCM service in under 30 days and doubled projected revenue in 60 days
  • Over 15,000 missed claims were loaded into Iris-Health platform in the first two weeks
  • Billed out all backlogged claims one month ahead of anticipated date
  • Established weekly meeting during transition period to track statuses and resolve any issues
  • Dashboard provided custom reports and transparency into RCM