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

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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