Beyond the billing breaking point … Coming back from beyond the brink with Greenway Revenue Services
Recently, we explored the billing breaking point and how practices know when it’s time to get help with revenue cycle management … But what happens when your practice is beyond that point?
The team at Calvin Walker, MD, LLC recently found themselves in exactly this situation. They were breaking away from a larger practice and had purchased Greenway’s Prime Suite EHR and practice management (PM) solution.
Familiar with Greenway and Prime Suite from previous practice experience, the practice had a solid plan for growth, beginning by transitioning from a third-party billing company to in-house billing, using solutions within Prime Suite’s PM system.
Confident in Greenway’s partnership, the team believed that this transition would help move them toward several goals to grow and thrive, including starting a therapy dog program for their patients.
An unexpected bump in the road
Though the practice had intended to let its billing company go, Laura Walker — Dr. Walker’s wife, who’s been acting as practice administrator for the past several months — said that the team had been depending on a transition period. Unfortunately, rather than honoring the three-month transition in its contract, the billing company dropped the practice and left it with no billing solution at all.
At the same time, the practice’s office manager — who had been training to take over billing responsibilities with Prime Suite — had to leave the practice with little notice. Initially, Laura attempted to step in and learn what she needed to know to start billing and manage their revenue cycle with Prime Suite, but the practice was underwater and losing ground daily.
Left with no billing solution and few options, the practice was in trouble. The Walkers were living on credit cards and had real concerns that they might lose not only their practice, but their home.
That’s when Bonnie Melendez, the practice’s Greenway Health account executive, stepped in and offered Greenway Revenue Services as a potential solution. “I didn’t think we could afford it,” Laura said. “We were already in debt to Greenway for Prime Suite, and I just saw more money that we didn’t have. But Calvin was convinced, and so we went with Greenway Revenue Services.”
Laura knows the exact date when Greenway Revenue Services was implemented because, “That was the day everything turned around,” she said. “I know Greenway Revenue Services picked up on May 22. I’ll never forget that day as long as I live because it was almost like we were in a dark room, and on May 22, Greenway came in and turned the light switch on. It was that instantaneous.”
Before implementing Greenway Revenue Services and diving into best practices with Prime Suite, Laura had no idea how many patients her husband had been seeing daily … or how much money the practice had been leaving on the table.
From fear of bankruptcy … to incoming revenue and a growing practice
For several months, Laura had dreaded checking the practice’s account. She reported getting excited when she found even $100 available, saying, “I would think, when I saw it, ‘We can pay the electric bill this month!’”
After purchasing and implementing Greenway Revenue Services, though, the practice began seeing revenue almost immediately, thanks in part to Laura’s close work with Greenway.
As the Greenway Revenue Services team prepared for implementation, Laura started entering charges almost a month before the practice’s go-live date. Through this process, she saw for the first time just how many patients her husband was seeing regularly and how much money the practice had earned.
Then, Laura said, “Because those charges were already sitting there, we started to see real results after just two weeks. After the first month, I went to Calvin, and I showed him the difference.” In June of 2017, Greenway brought in a full $10,000 more than the practice’s previous billing company had collected in June of 2016.
As the practice continues to collect revenue and see success with Greenway Revenue Services, the team has already begun to put in place a few long-term goals, including hiring Calvin Walker’s newest employee: Gus the therapy dog!
For more information on Greenway Revenue Services, our ambulatory solutions, and how partnering with Greenway can help your practice, call us today at 866-242-3805 or schedule a conversation with a Greenway representative online.