"MedEvolve’s expert team has been there with us through all the intricacies that arise when setting up a new healthcare business and helped us establish best practices from the start. They are focused on the numbers daily and provide the transparent communication and analysis we need so we can make the adjustments to ensure we’re setup for success. PGA is very happy to have partnered with MedEvolve and we look forward to continuing to grow our practice with their support."
About Premier Gastroenterology
Premier Gastroenterology Associates (“PGA”) of Little Rock, Arkansas, was founded in June 2018 by seven physicians who saw an opportunity to partner together and integrate their skills, expertise and patient-care philosophies. They envisioned a new kind of practice with a caring atmosphere, informative staff and the most advanced technology.
In October 2019, the practice moved from rented office space to its new location – a state-of-the-art medical plaza situated in West Little Rock. The new location allows PGA to offer world-class, cutting-edge medical care, and provide the full continuum of gastroenterology services, from colonoscopies to surgery.
Challenges
While starting a new practice meant PGA could avoid the headache of transitioning from manual, paper-based processes to electronic ones, administrative staff had their work cut out for them with multiple uncertainties: How quickly would the practice grow? What would the payer mix look like? What kinds of ancillary revenue opportunities would present themselves as the organization grew?
Given all of these variables, the practice required a technology and service partner that would provide a robust practice management system and support for multiple functions, including charge entry, coding, billing, accounts receivable (A/R) management and payment posting along with robust analytics capabilities, to ensure the entire revenue cycle and processes are optimized. The practice knew that outsourcing all back-office functions would allow them to focus on patient care and the tactics required to meet the growth objectives of the practice.
“MedEvolve had a lot of flexibility, which is essential for a growing practice,” says Grey Williams, CFO of PGA. “The team at MedEvolve let us bite off just as much as we wanted to chew, which was important because we faced so many decisions: whether to buy or rent software, how much of our billing we wanted to outsource and what kind of expertise would help us grow.”
Solutions
Premier Gastroenterology Associates Uses MedEvolve’s Services and Technology:
Practice management and medical billing software
The web-based practice management and robust billing solutions enable easy, flexible and intuitive access for patient scheduling, financial clearance, gathering patient information including automated patient payment processing.
Effective Intelligence RCM Analytics
Advanced real-time analytics tracks the practice’s performance in key performance areas (e.g., Gross Collection Rate, Net Collection Rate, Day Sales Outstanding, AR Liquidity, Charge Lag, Payer Lag, First Pass/Open Denials, etc.), so PGA executives and physicians can keep a pulse on their revenue cycle and their service partners — ensuring people, processes and technology are aligned and producing the desired result. A dedicated MedEvolve RCM strategist delivers the metrics on a monthly basis to highlight areas of success or any issues that need attention and makes recommendations for improvement. Staff can review statistics in key areas any time in a format that is easy to understand; Effective Intelligence features robust drill down capabilities for root cause analysis.
Revenue cycle expertise and workflow automation
PGA relies on MedEvolve’s team of experts to resolve complex medical billing issues, manage denials and provide ongoing training and support. The gastroenterology practice also requires the aid of specialized coders who understood the specific billing codes that are relevant to the practice and its patients. MedEvolve’s RCM team leverages its cloud-based automated workflow solutions to ensure open balances are prioritized and collected in a timely manner, effectively minimizing the risk of leaving money on the table.
Outcomes
MedEvolve’s team of revenue cycle and analytics experts, paired with its RCM Advantage suite of AI-driven workflow automation and medical billing solutions, has given PGA the head start it needed for a positive patient experience and solid financial foundation. In particular, having the tools to oversee accounts receivable processes and performance metrics has made it easy for PGA to optimize practice profitability.
But the biggest value in MedEvolve is the time savings PGA has gained: By eliminating concerns over billing, coding, payments and other administrative minutiae, the organization has more time to focus on higher-value activities.
"I didn’t want to be managing systems, software and servers. I would also rather not spend my time managing billing and coding staff knowing the administrative burden that comes with it. I want to be discovering the next opportunity for ancillary revenue, so the practice can bring in more income. Our partnership with MedEvolve has afforded me that."
As the practice grows, PGA plans to continue to work closely with MedEvolve to develop technology and solutions that the practice’s ever-evolving needs.
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Premier Gastroenterology uses data-driven decision making to manage new practice
Once you show the data from Medevolve’s revenue cycle analytics to a new physician, most of them become data driven. It allows that monthly, weekly, or daily reporting for physicians that want to keep up with what is happening. I can show them trend analysis over three months and determine what changes need to be made like how many new patients they need to achieve their goals.
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