Operational Cost Reduction in a Changing Healthcare Environment
by Julia Solooki, MBA
ith cutting edge technology and daily medical breakthroughs our healthcare system appears to fit the mold of streamlined perfection, however the rising challenges of daily medical group operations are quietly overlooked without an obvious solution. Doctors are challenged to divert their focus from treating patients, to tedious claim chases and endless denial follow ups, causing additional frustrations to the already perplexed lowered insurance reimbursements. Office managers are equally defied; faced with high turnovers, limited solutions and high operational costs, the days at the office just got longer. And it’s no wonder, as the cost of maintaining a profitable business the old fashioned way is not a sustainable option. So what is the solution? Hybrid workflow! Imagine this: You walk into your office, log in to your computer and the first email you see depicts a picture perfect world, full of clarity and insight. Easy to understand spreadsheets with complete breakdowns of outstanding accounts receivables and valid reason explanations for easy claim correction and resubmission. Or better yet, a full report of your patients’ appointments confirmed in advance with detailed eligibility and benefits verification with authorization codes available prior to treatment. How about pages of scanned documents which are seamlessly indexed to their designated folder? It can happen! I know what you are thinking, this is too good to be true, a sci-fi flick with virtual reality inserts, no such solution exists in real life. Wrong! Unique back office solutions can significantly enrich your current
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workflow in the areas of Claims Entry, Payment Posting, Accounts Receivable Follow Up, Denials Management and Credentialing. The hybrid workflow model ensures resourceful manpower, extensive healthcare expertise, and warrants the tedious work of aggressive follow ups, amongst other services, to be completed, all while away from your office. A virtual office genie can do all your work and increase your bottom line by up to 20%, all while reducing operational cost by as much as 30%.
In order to survive the changes in the healthcare environment, medical groups can outsource various billing modules to third party solutions to maintain profitability. Off-shore labor power allows lowered operational costs and increases profitability instantly, putting medical groups in a lucrative space yet again. Don’t let your frustrations slow you down, solutions are here to stay. n
Julia Solooki, MBA is Director of Business Development, Marketing at ClinicSpectrum, Inc., a healthcare services company providing outsourcing and back office solutions for medical billing companies, medical offices, hospital billing departments, and hospital medical records departments. For more information, contact Julia at (440) 290-9032 or Julia@clinicspectrum.com ClinicSpectrum, Inc. is a PAHCOM Coprorate Member Since 2012
Published on Apr 11, 2014
Clinicspectrum is a healthcare services company providing outsourcing/back office and technology solutions for 17+ medical billing companies...