As we all start to look at ways to reduce overhead and improve cash flow, understanding the cost of billing is an important measure for how well your practice is performing. Often, leaders accept the high cost of billing without truly understanding if they are receiving a return on their investment.
At RCM360, we can help you evaluate your costs and weigh that against collections. For example, we recently partnered with a clinic in Southeast Texas to provide full outsourced RCM services. At the beginning of the relationship, this clinic was collecting just $40,000 on average per month.
The RCM360 team was able to more than double their payments in just 45-days. After establishing best practices, automated processes, and dashboards that provided real-time visibility into their finances, RCM360 was able to collect $105,000 this past month and expects that to increase next month.
The clinic in Southeast Texas realized investing in billing knowledge and expertise was necessary o help their practice grow and their business thrive.
Take the first step by scheduling a free billing analysis and learn how you can improve the financial health of your practice. In just 30 minutes you could gain the visbility you need to take action and be better prepared for the future. Click here to schedule an analysis.