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Case Study - A Four Provider Ophthalmology Practice.


Client is a busy four (4) provider ophthalmology group with an associated ASC. This practice had previously outsourced their billing to two different companies and were in severe financial distress.


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the challenge


The current billing company did not have ophthalmology experience and did not provide financial reports to the owners and managers. The practice had no knowledge of their existing billing financial status except the fact that their incoming revenue was not meeting overhead expenses. Many claims had reached timely filing deadlines and were unrecoverable.

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The Action Taken


Agnite immediately assigned an account manager to this client, implemented a plan of action and worked all charge posting, payment posting, claim submission, patient statements and answered all patient billing calls.

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Before


  • Insurance Accounts Receivable % current aging bucket: 29.96%
  • Insurance Accounts Receivable % older than 90 days: 36.81%
  • Patient Accounts Receivable % older than 90 days: 91.68%
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After


  • Insurance AR % current aging bucket increase 29.96% to 85.53%
  • Insurance AR % older than 90 days decreased from 36.81% to 4.95%
  • Patient AR % older than 90 days decreased from 91.68% to 22.31%
  • Days in AR: 13.8 days
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