When in 2012 we approached a large East Coast Hospital Specialties Billing company for business, we found them doing wonderfully well. They possessed one of the best proprietary rugged practice management systems we have come across. They also had the skills to upgrade it and modernize as business evolved. They were ahead of many others in providing business intelligence reporting to customers from way back in 2004. They had global delivery support from highly reputable companies and a solid customer base. They ticked all the boxes and seemingly there was nothing that we could add.
The management liked our team and our approach and gave us entry into a part of the lab business that was doing well. It was challenging to improve the numbers beyond what they already were. But that’s what we set out to do.
Using a deep analytics model, we found two areas of improvement – eligibility and hospital feed cycle. This involved building case examples and some patience as we dealt with a large hospital system. Indeed, they saw the merit of the case and once the project was green lighted, we could raise reimbursement by 1.3% and the cash flow speeded up by 2.5%. No mean feat this, given the existing high standards; but we were noticed.
We worked diligently on account after account and could make a material difference in 770% of the cases and the floodgates opened.
We are assisting the client in acquiring businesses in new and office-based specialties and have built a tightly integrated platform that together we are nearly unbeatable in certain markets and specialties on competitive pricing.
Year of engagement begin: 2012
No of dedicated and customized Quintessence applications used: 8
Volume of business handled: 1.5million encounters per month
Over the last 10 years of Quintessence (and 20 years in the business) we have delivered services to customers whose requirements cover the full spectrum of business strategies.
We work with customers on Full service on a % of collections model; to others, with discrete processes on a per unit fee. We also helped customers in their strategic pursuit of setting up offshore delivery centers, create and enhance delivery capabilities, and helped soft launch their offshore operations. It all has added to our experience, proficiency in the business and a certain versatility to tackle curve balls.
To find out how Quintessence can impact your business, contact:
Ashok Menon on +1-410-630-4774 today.