Orthopedic Billing Optimization

Background:

Orthopedic practices, like many specialized medical sectors, face intricate billing processes that demand meticulous attention to detail. Proper medical billing not only ensures a steady revenue cycle but is also pivotal to remain compliant with regulatory standards.

Challenge:

Several orthopedic practices were grappling with mounting denied claims, escalating account receivables, and inefficient payment posting. The practices’ in-house teams, though competent, needed expert intervention to delve into the aging buckets and streamline the entire billing cycle.

Solution:

RekhaTech stepped in, deploying a team of seasoned medical billers adept in orthopedic-specific billing nuances. Collaborating closely with the practices’ existing staff, our consultants undertook a holistic approach:

1. Aging Bucket Analysis – Our billers prioritized aging buckets, addressing the oldest outstanding bills first, ensuring timely claim submissions, and reducing the days in accounts receivable.
2. Denied Claims Resolution – By identifying common reasons for denials, our consultants initiated corrective measures and re-submitted claims, ensuring practices regained lost revenue.
3. Efficient Payment Posting – Implementing systematic payment posting mechanisms, we guaranteed that payments, adjustments, and denials were accurately entered, reconciled, and reported.
4. Accounts Receivable Management – Through consistent follow-up and understanding payer-specific guidelines, our consultants actively reduced the volume of unresolved accounts, ensuring quicker revenue turnaround.

Outcome:

RekhaTech’s intervention saw a considerable decline in denied claims and an upsurge in timely revenue collection. Not only did the practices experience a smoother billing cycle, but their in-house teams also gained from the expertise and methodologies introduced by our consultants.

Feedback:

The orthopedic practices acknowledged the value addition, appreciating the symbiotic relationship with RekhaTech consultants, who seamlessly integrated with their teams, becoming a vital cog in their billing operations.