- Assessment of the Billings process–Review current billing data and the billing work process used for medical claims. Compare historical trends and benchmarks to current billings to determine opportunities for improvement.
- Assessment of Collections process – Review current collection data and the work process to collect funds for outstanding bills. Compare historical trends andbenchmarks to current collections to determine opportunities to improve the net collection percentage.
- Assessment of Accounts Receivable process–Review the current Accounts Receivable data by aging and the work process to collect outstanding Accounts Receivable. Suggest changes to the current work process to reduce days outstanding and bad debt write-offs. Compare historical trends and benchmarks to current results to determine the opportunities to reduce the Accounts Receivable balance.
- Cash Flow improvement review– Review billing, collection and expensedata impact on cash flow. Review historical trends and benchmarks to determine opportunities for improvement.
- Coding and Documentation review – Review current ICD 10 and CPT coding for office visits, and procedures. Insure that proper ICD 10 codes and documentation are being used for appropriate reimbursement opportunities.
- Managed Care Contract review – Review current managed care contracts for rates and requirements. Compare all current contracts high-volume visits and procedures to a percentage of Medicare. Make a list of contract rates opportunities for improvement and develop a strategy by payer.