Medical Billing Company Digital TransformationDownload the PDF
Our client (Billing Company), a Texas-based medical billing service provider helps physicians reverse declining revenues, improve services, and navigate the highly complex insurance industry. They focus on managed care contracting, practice management and reporting feedback.
In the medical billing industry, it is critical to be able to access validated, timely, and actionable billing data. Billing Company had existing customers with limited reporting options from their internal and SaaS providers. Potential customers were making purchase decisions based on the ability of the provider to access critical data from disparate systems. Billing Company had been forced to address their client needs by increasing employee allocation to inefficient, manual reporting and needed a scalable and cost-effective solution to remain competitive in the marketplace.
After a comprehensive assessment and collaborative planning phase, the CorrDyn Team:
- Developed a data pipeline that automates the process of transforming the complex data structure in Billing Company’s medical billing systems to a normalized structure that enabled analysis and reporting capabilities
- Incorporated data validation to ensure that data was accurately reported to customers
- Launched a business intelligence suite in Tableau that provides visibility to senior leadership and serves as the template for scheduled reporting emails to customers
- Automated custom reporting emails that send advanced reports to customers on a regular basis or when thresholds are met that require customer actions
The Billing Company team experienced a dramatic reduction in the time and effort required for month-end close reporting: what previously required 8 hours per customer now takes 30 minutes for all customers.
Billing Company also developed deeper insight into revenue opportunities for their customers, such as denials analysis and demographics intake inefficiencies. This level of insight and reporting provides significant competitive differentiation from other billing companies and allows Billing Company to more effectively negotiate claims with insurers.