Healthcare Revenue Logic, LLC (HCRL), a wholly owned subsidiary of Children’s Specialty Group, has been established to assist physician practices who are faced with daunting challenges in the current and evolving health care environment. Revenue cycle management is the heart of a Physician Practice. The commitment of our team is to focus on providing the best possible management services and on-going education to the providers and their staff engaged in any component of the revenue cycle with a focus on cost containment and revenue cycle maximization.
To refine the revenue cycle healthcare leaders need new levels of analytical tools to quickly identify problem areas, establish strategic plans for process improvements and to be able to respond immediately as business situations fluctuate. Our team takes a comprehensive approach that evaluates, improves, and manages all components of the revenue cycle to help physicians create a simplified, integrated workflow design that will optimize and expedite reimbursement in the physician practice. While many billing services currently exist to manage medical practices, typically these services relieve medical professionals of tedious detail work, but rarely do they offer a means to substantially maximize the practice’s bottom line.
HCRL will not only free office staff for more crucial tasks, but will also maximize return from insurance carriers. Statistics show turnaround time on an outdated practice management system could be 30, 60 or even 90 days, creating seriously aged outstanding receivables for a medical practice. Submitting claims electronically through a “state of the art” practice management system that not only transmits your claims, but evaluates claims for correct coding edits prior to submission, will significantly reduce claim rejections, reduce outstanding receivables, and tremendously improve cash flow. Historically, physicians graduated from medical school with the goal of establishing and running their own “practice.” Many basic administrative procedures were overlooked or they embarked on this with little to no formal business training and thus were ill-equipped to truly run a business enterprise. Examples of such are:
- Successfully implementing new technology to increase proficiency
- Keeping current with insurance policies and regulations
- Concentration on collecting receivables and co-payments
- Ensuring that fees are kept at the maximum allowable insurance carriers are paying
- Annual review of third party payor contracts
- Correct coding rules are applied so that claims are not suspended, rejected and/ or “down-coded”
- Increase regulatory compliance and optimize operational efficiencies
- Linking the revenue cycle to the overall financial health of the practice.
For many offices, outstanding receivables grew tremendously and large bad-debt write offs became routine. Inadequate profit margins allowed medical practices to ignore sound business procedures. Medical practice complacency toward industry change is a luxury of the past. With the introduction of current and future Accountable Care and modified Manage Care Organizations into the industry, physicians are finding profit margins shrinking. They are now keenly aware that in order to remain in business they will have to adopt more efficient business practices. HCRL is prepared to assist local health care providers’ transition to more effectively run practices that will optimize business success and, in turn, enhance quality health care for their patients and communities.
“Laurie DeSantis and her team at Healthcare Revenue Logic, LLC have done a superb job coordinating the integration of my clinic into Kareo’s cloud-based medical software. My staff was brought up to speed with hands-on as well as internet –based training, and there were no interruptions in appointing or billing operations. The transfer of appointment and billing information from EPIC into the new system was seamless. Kareo’s built-in e-prescribing as well as the cloud-based electronic medical record provide capabilities previously unavailable in my clinic and at minimal startup costs. I anticipate that the transition to ICD-10 coding in the near future will be just as seamless. I strongly recommend Healthcare Revenue Logic, LLC to anyone looking for a cost-effective operation that provides full-service solutions to the many new challenges facing medical practices. “Dr. John, Allergy and Immunology
“Healthcare Revenue Logic has brought my career to a whole new level. The professionalism and expertise that Laurie DeSantis shares with her clientele is second to none that I have experienced throughout my 20 year career in healthcare.”Corrine, Practice Manager OB/GYN