The Challenge: A Mountain of Backlogged Claims
Before the COVID-19, the organization had a well-functioning in-house
billing team and like many healthcare facilities, they faced severe
staff shortages during the pandemic. Claims piled up quickly, and
because their practice management software was an older version, they
couldn’t submit claims electronically.
Their situation was further complicated when several outsourcing
companies refused to take on the project unless the eye center
upgraded its entire billing software, a change that would cost them
thousands of dollars and weeks of downtime. The revenue cycle came to
a grinding halt. And by the time the pandemic settled, nearly $10
million was sitting idle in Accounts Receivable (AR) and most of it
looked unrecoverable.