We Love Revenue Cycle Management

Quintessence is a medical billing and coding service company, wired to maximize reimbursements for the healthcare provider markets. We help medical billing companies and other healthcare service providers optimize reimbursement, save costs, scale operations, build and deploy technology and grow revenues.

While others still work towards old-world Service Level Agreements (SLAs) and 48 hours Turn Around Time (TAT), we work towards reimbursement ratios, weekly collections, effective touches, and first-pass first pass percentages.

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Our Team

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Honours And Awards

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Locations

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MISSION

To build and deliver revenue cycle services and technologies that our customers will find useful, economical, and powerful. To delight our current and prospective customers with innovative and ingenious solutions to their everyday business challenges.

VISION

To be regarded as the best-choice partner for healthcare organizations looking to enhance the competitiveness, efficiency, and productivity of their operations.

VALUES / CULTURE

Foster an environment of trust, sharing, rewards and integrity, amongst stakeholders and the community. Value relationships with all our partners, employees, and customers. Respect and command respect in each of our engagements. Enable a work culture that encourages team effort, ownership, conflict resolution and responsibility, for the well-being of every stakeholder and our environment.

By the numbers

• 100+ physicians groups and around 3700+ providers form our clientelle.
• >$270 million in charges managed in a month and collecting >$100 Million in insurance payments
• 2.6 Million charts coded across all specialties and 5.4 million charge and payment transactions entered.
• 30-40% + savings by partnering with Quintessence.
• Upto 60% savings by deploying our combination of services and tech solutions
• 3 – 8% track record of increased yield per claim by Quintessence

We are sure of what we say and back it up with performance guarantees.

The Genesis: How it all started

A decade of soak time in the medical billing and coding service industry and working with pioneers and leaders in the industry has helped us understand the nuances and appreciate the detailed nature of the business. Tactics matter as much as strategies. Here the tactics matter as much as the strategic.

There were two other significant weaknesses in the industry that stood out to be addressed.

Poor Technology Penetration

One was the relatively poor technology penetration. Besides the core claims processing engine and the EMR, there was not much technology to enable coding, billing, and collections from operations, training, and tracking perspective.

Besides the billing software platform for the claims entry and payments posting, the billing services were bereft of process automation, workflow management, or inventory planning.

Misalignment in compensation structure

The customers were on a contingency fee- model while the outsourcing service industry was largely on (still largely is) the fixed-fee model. This misalignment in compensation structure created an imbalance in priorities and dissonance in service objectives.

In short, the customers were measured with a different yardstick compared to the service providers. The US Billing companies were chasing reimbursement and speed of collections while medical billing and coding service providers were targeting TAT and quality scores with no outcome focus.

Naturally, medical billing and coding service companies had no incentive to innovate as they continue to get paid even for their errors and were compensated for sub-optimal outcomes.

Addressing the two main opportunity areas

We set out to address these two considerable challenges. We began offering a contingency pricing model to align the market to a new paradigm of service approach. This was the first and most logical step in our quest to be a true partner to our clients who were operating such a model. The intuitive corollary to that is to put as much technology into Revenue Cycle Services to enable customers to reap the most from such a winning partnership.

The partnership relationship model and the incisive supporting cast of RCM enabling technologies we offered helped our customers address several competitive needs.

After 10 years of dogged persistence, we see Quintessence successfully partnering with healthcare entities in the march towards a hi -tech and reimbursement- focused RCM world. Our endeavor to align with the customer’s model is now the default and proven model globally.

What do we have to show for our endeavors? Lots.

• 75% of our business is on a contingency fee model
• Our customers have gained market share and have penetrated tougher segments
• Same client growth has clocked 55% CAGR for the last 5 years
• Our technology allows us to price new wins at a steep cost differential
• 90% of our clientele is reference-based

What makes Quintessence a different RCM partner?

Who are our clients?

1.

Our clients are medical billing companies across a multitude of specialties, DME billing companies, hospital-based specialties, technology product companies, physician practices, and health systems.

2.

Our medical billing clients are leaders in their respective markets and business segments. They are regarded as unique and pioneering in their businesses.

3.

We trusted in our experience, people and systems. Our customers love our revenue cycle services. We love RCM. It’s no wonder we are rated amongst the top offshore medical billing and coding service companies in India.

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