Client Context
In the vast realm of molecular diagnostics, this company shines as a trailblazer in the early detection of cancers. With a primary focus on preventing colorectal cancer, the company made headlines in 2014 with the groundbreaking launch of their product - the world’s first stool DNA test for this fatal disease. As time progressed, the company expanded its product portfolio, introducing advanced screening and precision oncological tests for various types of cancer.
Despite experiencing remarkable revenue growth, the company faced a formidable challenge: skyrocketing administrative expenses and acquisition costs. Determined to optimize internal revenue cycle operations and drive down expenses, the company sought a capable partner to implement a comprehensive transformation.
The Challenge: Soaring Administrative Expenses and Acquisition Costs
“Every phase of the transition exceeded the productivity and quality metrics,
amazing!”
Recognizing the need for innovative solutions and specialized know-how, the company forged a strategic partnership with Access Healthcare. Based in Dallas, TX, Access Healthcare is a renowned industry leader in healthcare revenue cycle management and outsourcing solutions. Leveraging their offshore operations, Access Healthcare embarked on multiple projects for this company fostering a collaborative environment that combined talent, efficiency, and cost-effectiveness.
A Transformative Initiative
The company recognized the benefits of offshoring operations:
Reduced operational expenses
Access to skilled resources
Time zone advantages
Enhanced flexibility
Determined to drive growth, profitability, and exceptional service quality, the company confidently decided to outsource its revenue cycle operations.
Forging a Strategic Partnership with Access Healthcare
With EPIC expertise and a highly skilled workforce, Access Healthcare emerged as the ideal partner for this company. The collaboration commenced in 2022, with Access Healthcare taking charge of the EPIC A/R work queues. This involved verifying eligibility using EPIC Prelude’s RTE, which included contacting third parties to confi rm coverage details if they were unavailable in the payer portal. Ensuring accurate patient fi nancial information minimized the potential for downstream claim reimbursement issues, safeguarding revenue.
Leveraging Offshore Solutions for Success
The success of this partnership was rooted in meticulous planning. The client and Access Healthcare worked hand in hand, developing comprehensive project plans that outlined goals, tasks, scope, deadlines, and deliverables. This shared roadmap ensured all stakeholders were aligned, resulting in seamless execution and optimal outcomes.
Achieving Outstanding Outcomes and Cost-Effectiveness
The solution employed was 100% offshore, featuring a “fully loaded” FTE price and a dedicated lead for streamlined communication. Access Healthcare leveraged a Six Sigma-based quality audit methodology and a best practice framework, ensuring a smooth transition from staff onboarding to a steady state. Building on its achievements, Access Healthcare extended its involvement in the order entry process, diligently recording orders in the billing system.
The results have surpassed expectations. The Vice President of Revenue Cycle, expresses his delight: “Our partnership with Access Healthcare has yielded outstanding outcomes.” The EPIC work queues and order entry initiatives have proven cost-effective and highly effcient. In one remarkable instance, costs were reduced from $4.50 per order to an impressive $1.50 per order without compromising quality.
Through its collaboration with Access Healthcare, and the company has successfully transformed its revenue cycle operations, unlocking new levels of growth and profi tability. With a shared dedication to excellence and a commitment to innovation, these industry leaders have paved the way for a brighter future in cancer diagnostics and prevention.
Access Healthcare’s valuable contribution has revolutionized the client’s operations and set a new benchmark for revenue cycle management. Together, they stand poised to shape the healthcare landscape, driving advancements in cancer detection and saving countless lives.