Strategic Revenue Solutions (SRS), a practice management company, leverages its unmatched experience to manage reimbursement effectively. The company focuses on the right metrics, regulations, nuances, and opportunities for every RCM procedure. SRS has been successful in getting into the practical details of unpaid claims and resolving the denials. “We pay attention to every minute detail and follow the right coding practices to maximize revenue,” says Allie Galovich, President of the company.
SRS goes the extra mile to help clients obtain payments by reducing the RCM bottlenecks. By maintaining a 95 percent Clean Claim Submissions Rate on the first time claims are billed, the company ensures that the clients do not have to spend time and resources on reworking unpaid claims. Further, with SRS’s certified billing and coding specialists, clients can file timely appeals to get full reimbursement when the appeals are necessary.
Helping Clients Establish Best Practices
SRS is not reliant on a traditional marketing team. Most of the company’s customers approach them through referrals. Before signing on a client, Allie and her management team assess the client’s position to gain a comprehensive understanding of their challenges. Such an engagement also allows SRS to know whether a potential client is a right fit for its business. At that point, they also handle adjudicated bills that require re-coding and resubmissions.
When it comes to the onboarding process, SRS allows the client to embrace the change while transferring their assets to a new system in a month. This helps the clients to keep their revenue flow undisrupted during the transition. “We specialize in taking on new clients that have a large unmanaged (AR) accounts receivable and cleaning it up; from correcting coding to obtaining payments that were missed by the previous person or the company who handled the practice’s billing,” informs Allie. SRS restructures the existing processes and makes modifications to the old systems. Then the company helps the client to establish best practices for proper documentation while keeping them informed about the continuously changing industry standards and laws. Following this, SRS trains the client’s staff to follow best RCM practices, including benefit verification, obtaining prior authorizations and referrals, and ensuring that providers are fully credentialed with insurance plans.
Strategic Revenue Solutions : Rcm Solutions That Are Built For Success
We pay attention to every excruciating detail and follow the right coding practices to maximize revenue
Offering Customized Comprehensive Support
Evidently, SRS focuses on the right metrics and quality of the work instead of the quantity, and the company strives to obtain resolution before filing limits are met. “Our unique approach includes auditing the past billing and collection efforts which help us structure the correct approach. To ensure that healthcare providers are capturing the right measures in their systems, coders are trained to code completely and correctly,” states Allie. By identifying clients’ revenue requirements, SRS offers customized comprehensive support that directly aligns with the client’s objectives.
The consistency in delivering superior services focused on continuous improvement of clinical, operational, and revenue cycle optimization has helped SRS create a unique niche in the market today. The company offers a lot more than a standard billing company. This includes verifying eligibility, obtaining authorizations, referrals, and up-front collections of copays & deductibles.
Embracing Technology Tools that Cover Medical Necessity
SRS has transitioned to a clearinghouse that communicates directly with its billing software so they can see claims remittance advice and EOBs with the click of a button. The company also utilizes the connection between its clearinghouse and billing software to verify insurance eligibility. This helps them identify active, billable insurance faster and more efficiently to maximize reimbursement. It also tracks key claims metrics like clearinghouse rejections, payer rejection, and perfect pass claims.
As an organization, we focus on being the best, not the biggest
Poised Toward Dynamic Growth
SRS recently had a significant success when they helped an ambulatory surgical center with over $11 million outstanding in AR. After acquiring the client, SRS re-coded every claim and submitted them in record time. By having SRS implement their detailed process, the client collected the outstanding AR in just six months. In another instance, an emergency physician group struggling with their reimbursement approached SRS. After collaborating with SRS, the client was able to double their revenue, hire additional physicians and obtain three additional hospital agreements to service their emergency departments.
Such success stories stem from the SRS team’s experience and expertise in medical coding and RCM. Many of its coders have earned advanced degrees and have multiple certifications in coding. In addition, SRS performs group/provider insurance enrollment for their clients, physician groups, and ASC’s by adhering to carrier requirements for professional groups and facilities.
Going forward, SRS is planning to expand its role to include a consultant-based platform for providers such that they can improve their revenue outside of simply hiring a billing company. In this consultant-based platform, the company will offer practices that they are not currently contracted. This will include an extensive audit mechanism of current billing that can compare their claims against provider documentation and insurance payments, ensuring the practice is billing and coding properly according to AMA and CMS guidelines.
SRS has been in business for over 14 years and has shown a dynamic growth rate year after year due to its solid referral base from satisfied clients. The company has been instrumental in minimizing bad debt, improving cash flow, guiding revenue cycle teams, and analyzing trends and compliance. “As an organization, we focus on being the best, not the biggest, and that’s what defines us,” concludes Allie.
July 09, 2021