Growing revenue is the first requirement for independence. Many physicians gave up private practice because they could not sustain their personal income. More practices today are seeing their top line slide while costs continue to increase. You must solve the revenue issue, both for today and for tomorrow.
While fee-for-service reimbursement is changing, it remains the predominant payment mechanism for most physicians today. Yet your revenue cycle process is vastly different than it was even a few years ago. It is more complex, more technology-enabled, more adversarial, more data-driven, and more dependent on patient payments.
Maximizing your revenue in a fee-for-service world no longer means having people work the phones harder with the insurance company. It requires pulling on several things at once:
ALN helps our clients maximize their revenue in the current world, collecting in excess of 98% of all net charges. We have made the investments in people, processes and technology that allow our clients to stand toe to toe with the payers in order to maximize their revenue.
But how physicians get paid is changing and unless your practice is ready, your revenue will begin to leak and your personal income will shrink.
Our clients are now getting more and more of their revenue from new ‘value-based reimbursement’ models – care coordination fees, quality and utilization bonuses, full and specialty capitation, and other schemes.
Every new payment model means a new demand on the skills, workflow, IT infrastructure, and reporting capabilities of your revenue cycle. We are making these investments on behalf of our clients so their income continues to be protected into the future as well.
If you have questions about whether your revenue – current and future – is maximized, we’d like to talk.