Case Study on Full Service Billing by using the Medisoft Software

The Customer:
An Internal Medicine practice in Florida.
The Challenge:
O2I was approached by the clinic to take care of Full Service Billing. The problems that the client was facing were:
- The billing was not completed within 24 hours
- Steep Decrease in collections
- Poor quality of work done by in-house billers
- AR was in very bad shape
O2I had promised that it will show improvement in the collections.
The Project:
- To provide Full Service Billing using Medisoft software
- To handle an average of 1000 claims every month
The Solution:
The following measures were taken to improve collections and productivity:
- A dedicated Account Manager and Team were deputed to handle the clients account
- The team consisted of full time employees for medical billing, medical coding and an AR expert
- Follow-up on denied claims
- Client had some problems with BCBS and were unable to send claims electronically. It took 2 months to get the payment when submitted through paper
- O2I resolved this issue and helped the client in getting payment in 3 weeks
The Results:
By outsourcing their medical billing functions to O2I, the CLIENT was able to:
- Witness that the average AR days were brought down from 141 to less than 40 days
- Witness that the collection percentage increased from 60.6% to 75.5%
- O2I worked on old AR and collected money for the practice
- The Client was able to focus more on patients. The patient base increased from 600 to 1000
- There is a regular flow of patient payments after O2I started providing services to the practice
- The cash flow has increased due to O2I's QA done on the claims before submitting to the insurance company
Please see the graphs below:
Progress since we started
2008
2007
2006
2007
2008
Progress since we started
Collections % (2008 vs 2004)
2008
75.5%
2007
83.8%
2006
81.0%
2007
76.9%
2008
60.6%
Progress since we started
Average A/R Days
2008
40
2007
34
2006
33
2007
36
2008
141
Progress since we started
A/R over 90 days as % of total
2008
9
2007
9
2006
8
2007
-
2008
-

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Medical Billing
Software At O2I Healthcare
Specialties HIPAA Compliance HIPAA 5010
Standards Compliance CPT Coding
Compliance Healthcare
Processes Medical
Billing Process Charge
Entry Process Medical
Coding Process Medical
Claims Process FAQs on Medical Accounts
Receivable Services FAQs on Outsourcing
Claims Adjudication Services Medical
Transcription Process HL7 ICD-10 Compliance
Software At O2I Healthcare
Specialties HIPAA Compliance HIPAA 5010
Standards Compliance CPT Coding
Compliance Healthcare
Processes Medical
Billing Process Charge
Entry Process Medical
Coding Process Medical
Claims Process FAQs on Medical Accounts
Receivable Services FAQs on Outsourcing
Claims Adjudication Services Medical
Transcription Process HL7 ICD-10 Compliance
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