Our client won a bid for billing and technology services from a 350-doctor multi-specialty group in the Midwest. Here’s how Quintessence helped it’s customer make an impact, with hard facts and numbers
Our client, a large RCM and Tech company, with a nationwide customer base across multiple specialties, brought in Quintessence as its RCM outsourcing partner. When they were reading a bid for a large opportunity, we stepped in to work with the client in the background. We helped fill out the bid documents, pre-sales capability presentations, case studies, financial case and value proposition.
Quintessence and our client set about as a team, recreating the workflows, documentation, billing edits from the last 3 years financial data and payer contracts.To cushion the impact of the switch, we agreed to set up transition guarantees for the first 6 months; and performance guarantees over the next 24 months.
| FY 2017 | FY 2018 | FY 2019 | |
|---|---|---|---|
Mar to Aug |
Mar to Aug |
Mar to Aug |
|
Charges |
$ 109,547,400 |
$ 126,527, 247 |
$ 130,196,537 |
Charges adj for Fee Sch revision |
$ 109,547,400 |
$ 120,502,140 |
$ 118,092,097 |
Collections – Insurance |
$ 26,181,829 |
$ 26,400,922 |
$ 28,329,349 |
Collections – Patient |
$ 3,141,819 |
$ 4,224,148 |
$ 4,249402 |
AR > 90 Days |
$ 29,323,648 |
$ 39,865,393 |
$ 34,278,513 |
Total Receipts |
$ 29,323,648 |
$ 30,625,070 |
$ 32,578,752 |
GCP % |
$ 26.768% |
$ 25.415% |
$ 27.588% |
First Pass % |
$ 91.80% |
$ 91.57% |
$ 92.81% |
Reimbursement per procedure |
$ 109.09 |
$ 108.65 |
$ 110.23 |
Not only were the transition guarantees met, the partners shone with a far better performance. And we are set to meet the financial targets of FY 2020. Quintessence has also taken up physician documentation improvement assignments in a bid to further strengthen compliance and look for possible opportunities to optimize reimbursement.
