CASE STUDY
PREMIER DERMATOLOGY
Service To Payment Reduced By
15 Days From 28
Days In A/R Reduced To 21
From 47
FPRR Up To
97% From 84%
Fast Facts
Dermatology Practice
2 Location
5 Provider
7 Staff Members
Solutions
Central PM
Concierge RCMM
KEY DIFFICULTIES
CONFUSING AND MISMANAGED BILLING
Due to erroneous invoicing by a third party biller, Premier Dermatology faced tens of thousands of dollars in collections despite a high customer volume attracted by award-winning treatments. Dr. Marie Jhin knew that success would need more than just attracting patients.
COMPLEX COPAYS
It is normal for dermatological copayments to be complicated. Certain operations are covered by insurance, but others, as well as pharmaceuticals and retail items, are not. To further complicate matters, certain dermatological treatments are provided as pre-paid bundles. The group need a more efficient means of managing and gaining insight into these complicated circumstances.
ADMINISTRATIVE OVERHEAD
Complicated systems negatively impacted practice performance, leading in duplicate calendars, incorrect billing, and confusing billing procedures. Worse still, Premier Dermatology failed to provide data to evaluate their financial performance, making it difficult to determine if their billing is off track, hence increasing their Days in A/R.
KEY OUTCOMES
COMPLETE PM & RCM SERVICES
MedCloud’s practice management (PM) and revenue cycle management (RCM) services have helped Premier Dermatology improve the efficiency of their revenue cycle management process, from pre-visit tasks such as verifying insurance eligibility, adding required authorizations, scheduling appointments, and maintaining accurate patient demographics to post-visit tasks such as coding and billing.
DRIVING PRACTICE PROFITABILITY
Experts from MedCloud RCM manage billing and remittance, with daily electronic claims submission. Consequently, claims are now reimbursed to the practice within 7 to 10 days, with a first pass resolution rate (FPRR) of up to 97%, and copayments are collected in advance. Additionally, the practice has doubled its financial growth.
INTUITIVE ANALYTICS DRIVES PERFORMANCE
Premier Dermatology utilizes the Advanced Analytics software integrated into the MedCloud platform to make data-driven practice performance choices. Pre-built reports highlight essential parameters in a matter of seconds, while a straightforward report-building tool allows for customized examination of particular data, such as cosmetic operations or self-pays.