Common Questions Facing Providers
- How can I increase revenue?
- How do I stay on top of all the manual processes?
- How do we prevent denials?
- What can we do to reduce cost?
- Where can I find good people?
The healthcare financial landscape continues to evolve and keeping revenue strong is becoming more difficult. The complexity of coding, denial management, patient consumerism and value based models require dedicated expertise.
- Cost of hiring and training new staff = $4,000 per year
- 20% of claims submitted to insurance companies are process incorrectly
- 21% of independent physicians are not familiar with MIPS
- Practices spend up to 14% of revenue on billing
What is your current billing cost?
- Don’t just look at your direct cost – software and salaries.
- How much do you lose due to turnover and employee downtime?
- How much is written off due to improper billing or not following up in a timely manner?
- What is the opportunity cost of physician and administrators time spent doing what a billing manager should be doing?
How do you score?
Vistec Partners measures 25+ key metrics for its practices. Based on these, a score is calculated to provide a single measure of revenue cycle performance.
- Billing Turn-around time
- Unposted charges over 48 hours
- % of unposted payments
- Denial Rate
- Days in AR
Call us to help determine your score and how we could increase it? (347) 921-4428
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