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SYNERGEN Health Increases Berenson Oncology Revenue by 15% within 120 Days

"As an Oncology practice, it refreshing to work with a company that understood our specific business challenges and provided us with innovative solutions that enabled us to maximize revenue"

Challenged with cash flow issues, decreasing revenue and increasing accounts receivables, Berenson Oncology approached SYNERGEN Health for a no-cost, no-obligation benchmarking assessment of its revenue cycle processes.

Overview

  • Private practice in West Hollywood - CA
  • Specialty : Hematology/Oncology
  • 20+ years experience in research related to multiple myeloma and other blood cancers
  • Clients’ Revenue per year > $4.2M

Challenges

  • Coding and Documentation
  • Reimbursements for unclassified drugs
  • Increasing days in A/R
  • Poor Visibility into RCM processes
  • Cash flow forecasting
  • Poor Customer service

Implementation

  • Daily benefits verification
  • Daily claims submission
  • Follow up date based collection follow ups
  • Box system for document management
  • Cash flow forecasting reports
  • Weekly progress reports
  • Monthly Revenue analysis report
  • Quarterly Drug analysis
  • Best Practices recommendations
  • PQRS initiative
  • Real-time Analytics reports(Doctrix)
  • Weekly drug cost analysis
.

Results

  • Improvement in 90+ Insurance AR
  • Consistent cash flow with forecast reports
  • improvement in days in A/R
  • Better working capital management
  • Best in class & compliant business processes
  • 100% transparency into RCM processes
  • 3% increase in the reimbursement ratio after transitioning to SGH
  • Fist time Payment rates were improved to 98% - 99%

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  • inc
  • tuv
  • bsi
  • 50-innovative
  • smu
  • health