BC Advantage - 2012 Issue 9

Ophthalmology Practice Dramatically Cuts A/R Days through Improved Revenue Cycle Management

A few years ago, our practice, Excel Eye Center in Provo, Utah, stood at a crossroads. We wanted a higher level of efficiency from our revenue cycle, and contemplated whether we could gain greater control over our financial future with more productive revenue cycle management (RCM) tools. Our practice was experiencing rapid growth-and revenue cycle slowdowns as a result. We averaged 48 days in accounts receivable (A/R), with A/R greater than 90 days running at 20 percent and a net collections average of 88 percent.At the time, there were seven ophthalmologists and three optometrists, operating in four locations...

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