RAA was able to cut the average accounts receivable collection time by over 50%, collection receipts increased by 12.14% and SVA captured potentially missed services resulting in RAA’s production increasing to 10.59% – all in just one year of service.
Radiology Associates of Appleton, (RAA) used to handle their billing and coding work in-house. When they lost their billing manager they faced a tough decision- hire a new manager or outsource. RAA consulted with a local radiology practice already outsourcing their billing and coding through SVA. Subsequently, RAA met with and hired SVA based on our deep knowledge of the marketplace and expertise in the ins and outs of business consulting, billing and coding for radiology practices.
The technology, automated systems and refined processes and procedures, based on years of experience serving radiology practices enables SVA to conduct timely billing and follow up with insurance carriers to ensure claims are paid and reimbursed according to their specific contract.
A Radiology Practice Increased Physician Compensation by 12% by Reducing Accounts Receivable with SVA – Healthcare* (SVA)
“Prior to working with SVA, RAA was collecting accounts receivable in an average time span of 2-2 ½ months. SVA has now reduced our accounts receivable to 1 month,” stated Dr. Fred Panzer of Radiology Associates of Appleton. “With SVA capturing potentially missed services through their certified coders, RAA’s production increased 10.59% and our collection of receipts also increased by 12.14% in 1 year.”
RAA’s needs continued beyond billing and coding. Short a manager, RAA still needed someone to manage their practice’s administrative duties. SVA helped by outsourcing a Practice Coordinator who was dedicated to RAA. The coordinator manages RAA’s office including: employee health insurance, payor contracts, accounts payable, as well as attends meetings related to non-physician issues.
*SVA Healthcare is a GetixHealth Company
March 09, 2016