2_29218_RM011AshevilleAnesthesiaCaseStudy

7/30/2019 2_29218_RM011AshevilleAnesthesiaCaseStudy

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CASE STUDY

RealMed Revenue Cycle Managem

Asheville Anesthesia Associates

Achieves Dramatic Improvements in Time-to-Payment Goals

The ChallengeAsheville Anesthesia Associates aced a growing accounts receivable (A/R) fle and a payment-

collection process that was too slow.

Chie Executive Ocer Alan McKenzie was ready or a new direction. He sought a sta-riendly technology

solution that would support the practices goal to improve the nancial position and eciency o the practice

by reducing:

time-to-paymentonpatientcharges,

thenumberofelectronicclaimrejectionsandbackendpayerdenials,and

thenumberofdaystocollection.

Ater careul consideration and valued sta input, McKenzie chose RealMed. He was condent that

RealMeds advanced revenue cycle management solution would t his teams workfow, and equally condent that

the RealMed team would become valued strategic partners with their deep experience and customizable services.

Speeding Time-to-PaymentRedeploying Time and Talents Saves 75%

Asheville Anesthesia had historically ollowed

up on unpaid claims at the 120-day aging

mark. With increased eciencies gained

through RealMed in the revenue cycle, the

practice has redeployed its sta to ollowup on unpaid claims three times: at 30, 60

and 90 days. By having the tools to manage

their revenue cycle with best practices in

claim ollow-up, Asheville Anesthesia has

signifcantly reduced its timely fling

denial rate, and greatly reduced its time-

to-payment.

2012 RealMed Corporation RM011-0712

S M T W T F S

X X X X XX X X X X

X X X X XX

X

X

X

X

X

X

X

X X X X

BeforeRealMed

S MT W

T FS

X X X X

RealMed

Reduction rom28 days to lessthan 7 days

Faster time-to-paymentAsheville Anesthesia has reduced time-to-payment by 75%. Theyve also s

average days in A/R decrease by 62.5%, and the total value of balances du

decline by 35%.

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Asheville Anesthesia Associates, P.A.Asheville Anesthesia Associates has provided quality anesthesia services to the people o

Western North Carolina or more than 40 years. The practice consists o 30 physicians,

100 certied registered nurse anesthetists, several registered nurses, and an administration

team o 22 people. Asheville Anesthesia serves eight hospital/clinical sites and administer

anesthesia services to more than 55,000 patients a year.

Reducing Claim Rejections and Denials

Cleaner Claims Reduce Denials by 67%Superior up-ront editing solutions ensure that claims submitted

to health plans are complete and ready or payment, which helps

speed processing to peak levels.

Beore submission, standard and custom edits are applied to

Asheville Anesthesias claims to detect errors. Identied errors

are returned via RealMeds Web portal, accompanied by helpul

explanations and recommendations or resolution.

With RealMeds consistent and uniorm presentation o errors rom

all health plans, the Asheville Anesthesia team has become

profcient in resolving corrections in a matter o seconds.

RealMeds customizable reporting suite also enables error trend-

tracking, which urther empowers sta to uncover root cause issues

that occur in the workfow, so they can be addressed.

RealMed clients see up to a 47% reduction in errors in the

frst week alone. Denials are reduced by up to 60%, and days in

accounts receivable drop accordingly.1

1Based on RealMed customer trends over a ve-year period

D

EN

IAL

RATE

20%

40%

60%

80%

100%

39.3

%

D E N I E D C L A I M SBeforeRealMed

W

ithRealMed

67%Reduction in

claims denials

12.9

%

Fewer denied claimsAsheville Anesthesias claim denial rate, once 39.3%,

is now just 12.9% with RealMed.

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CASE STUDY

RealMed Revenue Cycle Management

Asheville

nesthesiassociates, P.A.


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Reducing Patient Balances

Recover 19% More Outstanding Medicaid BalancesWith instant online access to health plan eligibility and

benets coverage or numerous commercial plans

plus Medicare and Medicaid, Asheville Anesthesia uses

RealMed batch eligibility services to veriy patient policy

inormation and coordination o benets inormation

switly and eciently.

By identiying Medicaid coverage or sel-pay patients

with outstanding balances, Asheville Anesthesia

has achieved a 19% increase in collections rom

these patients.

Greater recovery o paymentEasy online access to Medicaid coverage helps Asheville

Anesthesia pursue payment with speed and accuracy.

100 100

100 100

100 100

100 100

20

20

20

20

Before

RealMed

With

RealMed

19%Increase inrecovery ofpayment

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CASE STUDY

RealMed Revenue Cycle Managem

RealMed, an Availity CompanyRealMed automates healthcare transactions and inormation exchange between

providers and payers using powerul web-based reporting and workow enhancing

eatures. These capabilities signicantly enhance administrative efciency and

dramatically improve cash ow or providers. RealMed serves proessional providers

ranging rom one-doctor practices to the nations largest academic medical centers

and specialty providers or all aspects o their revenue cycle management needs.


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CASE STUDY

RealMed Revenue Cycle Management

RealMed Corporation

510 East 96th St, Ste 400

Indianapolis, IN 46240

1.877.REALMED | www.realmed.com

A Holistic ApproachCredit or the success o Asheville Anesthesias turnaround is due to a collaborative

eort between AAA and RealMed.The RealMed team shared best practices or processes

and implementation while the AAA team executed and managed the process to create

signicant nancial advantage or their practice.

From the decision to in-source the process, to the now-daily management o claimsperormance, every member o the Asheville team contributed to process improvement

rom their unique vantage points in the business. Their collaboration helped create a revenue

cycle management process that allows sta to ocus on higher-value work and build nancial

advantage. The end results have been dramatic.

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The RealMed system has done wonders with helping the AAA

billing sta manage our AR. Weve seen remarkable improvement

in the percentage o our claims that are error-ree and accepted on

frst submission. RealMed always goes the extra mile to help AAA

achieve success in todays ever-more-challenging marketplace.

Alan McKenzie, CEO

Asheville Anesthesia Associates

Documents

2_29218_RM011AshevilleAnesthesiaCaseStudy