Revitalizing Revenue for a 45-Physician Hospitalist Group in Dallas, TX
A 45-physician hospitalist group based in Dallas, Texas, faced a concerning financial challenge with declining revenue and a growing accounts receivable backlog.
Iris-Health initiated a comprehensive analysis to identify the root causes of revenue decline. This involved scrutinizing the group's prior charge capture and billing systems to uncover charge leakage. Additionally, accounts receivable were thoroughly examined to pinpoint reasons for unpaid and underpaid claims.
Recapturing Missed Billing Opportunities
Approximately 16% of patient visits were slipping through the cracks within the previous charge capture and billing systems. Iris-Health swiftly addressed this by capturing and billing those missed visits without delay.
Resolving Unpaid and Underpaid Claims
Another 8% of claims were identified as unpaid or underpaid. These claims were promptly integrated into Iris-Health's platform and submitted for billing, optimizing revenue recovery.
Missed claims were loaded into Iris-Health platform in the first two weeks
Iris-Health implemented RCM service
Iris doubled revenue in 60 days. Demonstrating a swift turnaround.
All backlogged claims successfully processed and billed out a month ahead of schedule, providing a significant financial boost.
This case study underscores the transformative impact of partnering with Iris-Health in revitalizing revenue for the 45-physician hospitalist group. Through meticulous analysis, efficient recapture of missed billing opportunities, and proactive claim resolution, Iris-Health not only streamlined operations but also achieved remarkable revenue growth. The collaboration showcased the power of data-driven solutions in the field of healthcare revenue management.
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