Mid-Atlantic Vascular Surgery Practice
A Partnership from Inception through a Seven-Year Growth Trajectory
When the physician owner of a solo vascular surgery practice in northern Virginia started his business in July 2011, he needed a strategic partner to help establish its initial business operations and systems, and position it to meet aggressive goals for growth.
Health Prime quickly jumped in with technology solutions and services to fit the new practice’s unique needs. Today as the practice navigates the transition to value-based care—now with five providers, two locations and more than 7,000 patient visits—Health Prime remains its trusted partner through continued growth by streamlining administrative procedures, optimizing revenue and avoiding burnout for its physicians.
About the Practice:
- Established in July 2011 in northern Virginia with one physician
- Chose Health Prime at inception
- Grown to five providers
- More than 7,000 patient visits
- 94 percent primary insurance accounts receivable within 120 days
Results Delivered by Health Prime:
- Selection and implementation of EHR system delivering optimal operational efficiency and patient experiences
- Coding analyses resulting in incremental increases in net collections
- Revenue cash management services generating significant value-based modifier incentive payments
- Successful implementation of MIPS and ongoing reimbursement strategies
- Practice management consulting for the establishment of a second Maryland location
- 8 Percent increase in gross charges
- 5 Percent increase in net collections
- 28 Percent increase in payments
Health Prime Solutions Used:
Revenue cycle management (with eligibility verification services) that alleviates administrative burdens and streamlines and transforms complex revenue cycles from end-to-end. The result is increased revenue, reduced costs and enhanced patient experiences.
Electronic health record solutions that streamline efficiencies and provide crucial health regulation insights. It enables practices to qualify for government incentives, including Medicare reimbursement for electronic prescriptions and the Merit-based Incentive Payment System (MIPS).
A comprehensive practice management consultation solution focused on improving the financial and operational performance of health care organizations. HP’s team of physician and health care management experts uses proven, data-driven methodologies to assist with strategic budgeting and growth planning.