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A upside story in facts and figures

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

Problem-definition

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.

Solution Partnership

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.

Presented below is the actual data, 6 months after transition:

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

Results

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.

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