Practice breadth requires diversified billing expertise
Kearney Clinichas provided care in Kearney, Nebraska since 1960. The practice has grown to provide care in multiple practice areas, including family practice, general surgery, pediatrics, physical medicine, and psychology. In addition, their facilities include an in-house lab, radiology, and ultrasound. Greenway Revenue Services has helped them cope with this breadth of services.
Making the numbers with a reliable partner
Kearney Clinic has a challenging billing profile. Handling approximately 9,300 visits per month in multiple practice areas made it difficult to keep the practice accounting metrics securely in the “green” zone. Switching from a previous accounting system to Greenway Revenue Services has allowed them to meet the challenge of a high volume of Medicaid and Medicare patients, served in multiple practice areas, while providing laboratory services as well.
Prior to transitioning to Greenway Revenue Services, the practice averaged 56 days in A/R. About 51% of claims were paid within 60 days, and the practice clean claim rate (CCR) was 73.05%.
As of January 2018, with Greenway Revenue Services on board, the practice days in A/R had fallen from 56 to 28, and the CCR rate had grown from 73.05% to 89.64%.
Clearly, Greenway Revenue Services has improved Kearney Clinic’s ability to collect. Just as importantly, charges are entered and billed more quickly, says Billing Manager Stacy Fines. “Getting personal payments and insurance payments posted quickly helps us know what we can collect in terms of secondary insurance or patient responsibility. Between us and Greenway, we share a lot of responsibilities. It’s a good work collaboration and that really helps us.”
Average days in A/R reduced from 56 to 28
Clean claim rate (CCR) grew from 73% to 89.6%
Average collections increased from $121,000/mo. to $1.7 million/mo.
Greenway Revenue Services has also made reporting more concise and comprehensive. “When you go to the A/R screen,” says Fines, “you see your charges and then you can see exactly your adjustments, your deductible… it’s right there.”
The more time spent with the Greenway team, the more familiar they become with the practice and its operations. Kearney’s needs billing expertise in several different areas due to all the aspects of healthcare they cover. “It’s great to have one team that can help us address all those different billing concerns,” Fines observes.
There’s been a tangible financial benefit to this growing familiarity. Since the partnership began in 2014, average collections have risen from $121,000 per month to $1.7 million per month, and charges have increased from $1.1 million per month to between $2.3 and 3.4 million per month.
Having a knowledgeable, experienced billing team in place not only provides financial benefits, it also allows the practice to focus on higher priority work. “We get together with Greenway every other week to share what’s going on,” states Fines. “They inform us what our A/R and other numbers look like and share what’s going on so that we’re on top of it. This allows us to work on other things, on other practice priorities. We’re not constantly looking at the A/R buckets because we know that Greenway is taking care of that.”
“Between us and Greenway, we share a lot of responsibilities. It’s a good work collaboration and that really helps us.”