Improving Your Practice's Revenue Cycle

Let our Revenue Cycle experts show you how to enhance your in-house billing operation.

About

CoNtACt uS: 800.234.4550 or [email protected]

From billing system set-up to charge capture to A/R follow-up to staffing management, McKesson’s experienced consultants can help your in-house billing team optimize performance.

In today’s challenging and increasingly complex healthcare market, McKesson Practice Consulting Solutions experts can help your group identify and resolve a wide variety of critical billing and operational issues that have an impact on the health of your practice. From analysis of your in-house operations to full implementation of billing support services, we’ll uncover your practice’s needs and develop a customized, flexible solution to help your staff optimize resources, reduce risk and better manage your revenue cycle operations.

Whether you have a short-term need or require a more in-depth engagement, McKesson has the people, experience and resources to position your in-house billing operations for stable results and future growth.

Next Print

View our In-house Billling Support Services Chart

Practice AnalysisLearn more about how McKesson

Practice Consulting Solutions can help improve your practice

Additional Information

InformationCase Study 1 Case Study 2 Case Study 3

Contact us for more info today!To learn more about McKesson Practice Consulting Solutions and its services, please call us at 800.234.4550 or e-mail us at [email protected].

Play Play Play

Boost collections with Interim Accounts Receivable Management from McKesson Practice Consulting Solutions

Increase Collections While Identifying Revenue Cycle Improvement Opportunities with McKesson

Increase Collections and Decrease Staffing Costs with McKesson Practice Consulting Solutions

mailto: [email protected]


http://www.mckesson.com/practiceconsulting

http://mptrms.mckesson.com/PracticeConsultingSiteContactUs.html

Home

(Mouse over for animation)

In-house Billing Support Services

Low invoLvement soLutions

HigH invoLvement soLutions

Home

(Mouse over for animation)

In-house Billing Support Services

Low invoLvement soLutions

HigH invoLvement soLutions

Analysis

– Billing Performance Analysis

– Staffing Assessments

– Operations Effectiveness

– Resource Analysis

– Billing System Functionality

– Reporting and Analytics

Project Based Resources

Business OfficeManagement

–

–

–

–

– Coding/Data Entry/ A/R follow-up/ Backlog Assistance

– Billing System Transition Support

– Billing Performance Strategy/Development

– A/R Wind-Down Services

– Early Out ReceivablesManagement

– Credit Balance Resolution Support

SupplementalStaffing

– Seasonal FTE Resources

– Transitional Management and Staffing

– Training Assistance

– Short- and Long-Term Billing Office FTE Support

– Comprehensive Business Office Management

– Staffing Management

– On-site and Virtual Business Office Oversight

– Short- and Long-Term In-house Billing Solutions

Case Study One

Home Next Print

ProfilesCase Study 1 Case Study 2 Case Study 3Boost collections with Interim Accounts Receivable Management from McKesson Practice Consulting Solutions

Play Play Play



coNtAct uS: 800.234.4550 or [email protected]

About ServiceS






http://sites.mckesson.com/practiceconsulting/services.htm





Boost Collections with Interim Accounts Receivable Management from McKesson Practice Consulting Solutions

About ServiceS


Background

- 15 Physician Practice in California

- Serves three hospitals

- Owns a stand-alone imaging center and is a partner in another imaging center

- Handles more than 350,000 procedures annually

Issue

- Difficult transition to a new billing platform

- Collections dropped more than 7%

- A/R days increased to 74

- $20 million in old A/R went unaddressed

- A/R greater than 120 days ballooned to greater than 30% of total A/R

Solution

McKesson Practice Consulting Solutions provided interim support

On-site McKesson Consulting team

- Audited the billing process

- Established priorities

- Streamlined billing process

- Provided resources to immediately assist in reducing A/R backlog

Results

Improved Collections, Reduced A/R Days

After 3 months

- Monthly collections up 4%

- A/R days down 5%

After 6 months

- Additional 3% increase in monthly collections

- A/R days dropped an additional 10%

One Year

- Billing process strengthened for future growth

- Annual cash collections 9% higher than previously

- A/R backlog dropped by 19%

- A/R days reduced by 24%

Impact

Practice experienced the best cash year ever while McKesson provided interim services. With improved processes set up by McKesson Consulting, the partners were able to strategically position the practice for additional growth.

Next Print


Additional InformationCase Study One










Home Next Print

CONTACT US: 800.234.4550 or [email protected]


AbOUT ServiCeS

Case Study Two

Play Play Play














Increase Collections and Decrease Staffing Costs with McKesson Consulting

About ServiceS


Background

- Hospital employed practice in Southeastern U.S.

- 120 Multi-Specialty physicians in multiple practices

- Clinical services for more than 400K cases annually

Business Challenges

- Experiencing staffing and A/R Management Issues

- Central billing office (CBO) leadership turnover and management void

- Budget issues prevented hiring for CBO positions

- Several million dollars in untouched, aging A/R

- Shortage of CBO staff in key positions

- Staff recruiting, retention and management issues

- Practice management system concerns

- Years of inability to overcome these challenges

Solution

McKesson Practice Consulting Solutions stepped in to provide interim support with and on-site team:

- Provided supplemental staffing, CBO management and executive leadership

- Managed all facets of the 60+ FTE CBO operation

- Stabilized CBO operation and A/R mgmt. results and provide consistent, actionable CBO performance and information to Health System leadership

Results

Improved Collections, Reduced Staffing Costs and Enhanced Management Reporting

After 6 months:

- Collections up nearly 14% over prior baseline

- Staffing costs reduced by 8%-10%

- Greater integration of CBO to health system

- Ongoing status/performance review meetings with Health System Sr. Management

- Development of a reliable stable strategic business partner

Impact

The practice was able to utilize McKesson’s vast experience to manage its CBO, increase collections, reduce staffing costs, develop improved processes and enhance management reporting.

“We are very enthusiastic about the performance with McKesson Consulting. My fingers have blisters on them from counting the money.”

- Practice VP of Physician Affairs

Next Print


Additional InformationCase Study Two










Home Next Print



About ServiceS

Case Study Three

Play Play Play













Increasing Collections While Identifying Revenue Cycle Improvement Opportunities with McKesson

About ServiceS


Background

- Private practice group in the Southeast

- 22 Physicians supporting multiple hospital locations

- Clinical services for more than 550,000 procedures annually

Business Challenges

- Experiencing CBO, staffing and A/R Management Issues

- Coding, charge entry and payment posting back-logs

- Several million dollars in untouched, aging A/R

- Staff recruiting, retention and management issues

- Extensive use of overtime by various staff members

- Underutilized practice management system

- Managed care contracts below market

- Concerns of leadership effectiveness in identifying/addressing issues and developing a turnaround plan

Solution

- McKesson developed an improvement plan and provided interim support

- Quantified CBO underperformance, coding issues and leadership improvement opportunities

- Provided CBO staffing, and leadership support

- Performed coding and documentation training

- Presented consistent, actionable CBO performance information to practice leadership

Results

Improved revenue cycle operations, back-log reductions and increased collections:

- Reduction in coding backlog from 30 to 7 days

- Reduction in charge entry backlog from 60 to 13 days

- Improved coding & documentation by physicians

- Eradicated 71% of system errors that existed

- Enhanced system functionality, utilization and reporting

- Developed a managed care improvement plan

- Established performance monitoring process to address and resolve future issues with physician leadership

Impact

The client was able to utilize McKesson’s vast experience to review its practice, increase collections, reduce revenue cycle backlogs, curtail overtime costs, develop improved billing processes, and position the practice for improved managed care contract negotiations.

Next Print


Additional InformationCase Study Three









About McKesson Practice ConsultingMcKesson Practice Consulting Solutions offers an option for practices that need billing operations assistance but do not want to abandon their in-house billing structure.

Practice Consulting in-house billing support services are flexible and customized to the individual practice’s needs, and include project-based, short-term involvement in a billing office to long-term, fully engaged business office management. McKesson’s healthcare consulting specialists average more than 20 years of physician practice billing and management experience and offer assistance in identifying and resolving issues in every facet of an in-house billing operation, including: charge capture; coding and compliance; reimbursement and denial management; and staffing management.

Whether you need a comprehensive assessment of your in-house operation, state-of-the art compliance resources, day-to-day coding, or various types of in-house billing and accounts receivable management support, McKesson Practice Consulting has the resources and expertise to help.


Home Next Print



About ServiceS

Play Play Play













Date post:	20-May-2015
Category:	Health & Medicine
Upload:	mckesson-practice-consulting
View:	420 times
Download:	2 times

Improving Your Practice's Revenue Cycle

Health & Medicine