Revenue Cycle Management Solutions Reinvented: A Billing Company's Second Chapter With AMI

High Cost - Inadequate training at outsourcing firms leads to costly errors for providers. Errors such as inaccurate coding, billing discrepancies, and compliance breaches have resulted in significant losses of both money and time. Correcting these mistakes by redoing the process in its entirety requires additional resources and investments in training and process improvements.

AMI consistently emphasizes thorough and extensive training programs, which includes simulation-based training on charts to better equip employees for their day- to-day tasks once they are integrated into real-life account management. This initiative has led to fewer errors and lower associated costs for the billing company. This approach aims to facilitate a smoother transition and minimize the learning curve, ensuring that employees can adapt to the actual processes seamlessly.

Additionally, establishing clear communication channels between AMI and the billing company helped streamline the process and ensure the calibration with expectations which further helped in optimizing operational efficiency. This strategic move alone helped our partner save. $2 Million in revenue over the span of our partnership.

Access To Quality - According to eClinicalWorks recent market research, coding mistakes account for a staggering 63% of medical billing errors. Incorrect coding in Revenue Cycle Management can lead to lower accuracy in claims submitted for billing, resulting in higher rejection and denial rates, decreased clean claim rates, and reduced coding accuracy scores, ultimately impacting the overall quality of revenue cycle management and requiring additional resources for error correction and staff training. At the beginning of the partnership between AMI and the billing company, the quality audit scores stood at approximately 85%.

AMI carried out rigorous adherence to partner rules and quality measures, coupled with transparent communication, to bolster accuracy, compliance, and financial performance, we proudly call this Co-managed Operations. Prioritizing compliance with industry regulations to ensure alignment with legal standards and enhance overall operational integrity while achieving a 99% compliance rate within a span of 6 months.

Talent Acquisition - Their initial outsourcing partner lacked the necessary talent and certifications to handle the tasks assigned to them. Coders with certifications in CPC, CCA, CRCP, etc. will help them not only validate skills and knowledge but also demonstrate a commitment to maintaining high standards of professionalism and compliance within the healthcare revenue cycle and coding domains.

The billing company opted for AMI because of our proven track record of possessing the required talent and certifications to effectively handle assigned tasks. We prioritized thorough vetting processes to ensure harmony between partner capabilities and the demands of the tasks, thereby minimizing risks and optimizing performance. Our employees are already CPC, CRCP and CCA certified, significantly reducing partner training time. Additionally, we annually renew these certificates as per regulations, covering the expenses ourselves.

AMI's strategic location and partnerships in Pune, India attracts top talent, fostering a diverse and adaptable workforce. With nearly two decades of industry experience and domain expertise, our brand embodies credibility earned through years of ethical practices. We offer competitive pay structures and comprehensive employee benefits to support growth and satisfaction. Our inclusive work culture ensures a harmonious environment for all team members.

Scalability - In addition to their lack of made-to-measure operations not being customized to client needs and inability to scale team size appropriately, the company faced challenges with ramping up and down. Longer notice periods and durations were required to scale up with certified and trained resources, posing further limitations on their ability to meet client demands efficiently.

To overcome scalability issues and ensure customer satisfaction, AMI provides tailor-made solutions for our partner’s unique needs while maintaining the ability to efficiently scale team size swiftly. AMI has trained professionals on standby in their bench resource pool for partner scaling needs. We offer flexible ramp-up and down options, along with minimum notice periods and durations, ensuring scalability with certified and trained resources to meet partner needs effectively.

Speed of Communication - The company encountered issues with communication efficiency, including delayed responses to emails, failure to acknowledge process updates and delayed delivery of operational reports. Additionally, there was a lack of forecasting regarding staffing availability which resulted in poor and improper allocation of volumes.

AMI ensures seamless partner processes through clear communication channels, providing daily reports and attendance sheets for efficient task allocation. We prioritize acknowledging process updates promptly and excel in forecasting associate availability. Our proficiency in co- managed operations enables rapid execution and near-instantaneous responses, with task reports shared within hours if not minutes, demonstrating our dedication to speed and effectiveness giving an overview to our partners for better agility with strategic planning.