The Louisville Family Medical Center Reduced Days in A/R, Lowered Denials, and Boosted Month-to-Month Collections

Medical Billing and Coding

CLIENT

A Louisville, Kentucky, family medical center

To help improve cash flow, Louisville Family Medical Center needed a claims clearinghouse to help shorten their days in A/R and make their revenue cycle management more efficient.

CHALLENGES

Inadequate and inaccurate demographic data was recorded.

The provider fails to offer a comprehensive selection of insurance plans.

Insufficient comprehension of laboratory invoicing procedures.

SOLUTIONS

To verify compliance and acceptability, sample claims are processed in accordance with the identified issues at the provider’s end. The claims are processed as anticipated, and the volume was submitted, and revenue was earned as a result.

Claims denials are prioritized, categorized, and processed by seasoned personnel to ensure prompt attention.

Velan employs real-time data from an internally developed knowledge base and input from the appropriate authority (AHIMA). This increased the rate of compliance and guaranteed revenue for the provider with a rapid turnaround time.

In order to guarantee that patients receive comprehensive care, insurance plan enrollment was reviewed. This resulted in an exceptional flow of revenue due to the lesser “out of network” coverage.

RESULTS

Cash also went up on a monthly basis by 20 percent in coding-related denials.

By submitting the CLIA for lab codes, we increased cash flow by 11%.

Details published elsewhere Revenue was 10% higher following insurance enrollment.

During the 10 months after the introduction of the provider, its outstanding AR collection decreased by one-third.