By Dan Bristol, OD
Nov. 17, 2021
Keeping up with billing in a busy practice, so profitability doesn’t suffer, is a huge undertaking. Fortunately, we found a Revenue Cycle Management (RCM) solution that has changed how we approach billing. Our profitability has surged as a result. Here are the details.
At our practice, we provide full-scope vision and medical eyecare, with many patients diagnosed and treated for conditions such as glaucoma and macular degeneration. This high volume of medical eyecare makes it especially important for our profitability that we bill in a timely manner.
We found that we were not able to keep pace with the level of billing required to maintain our medical focus and grow our profitability. We knew there was a bottleneck and after doing an analysis, we discovered we were around $50,000 behind in billing. That wasn’t acceptable to us, and it wasn’t fair to our patients not getting their insurance billed on time.
Turning It Over to the Experts
We were looking for a new answer and did research about the outsourced billing solutions available. When we got in touch with VisionWeb, we found that their RCM solution was exactly what we were looking for. The team at VisionWeb gave us all the right answers to our questions about how easy it would be for us to turn over this vital practice function to them and the huge financial benefits we would likely experience for turning over billing to the experts.
Maintaining a Steady Cash Flow
Implementation of VisionWeb’s RCM service could not have been easier. We just had to fill out a couple forms. VisionWeb took it from there, doing everything required to fully turn over our billing processes to their people. Implementation didn’t take long and the VisionWeb team prioritized our practice’s needs the entire time.
Now revenue is much more consistent. In the past we would have a month when we were very busy, did a lot of business, but we didn’t get paid as much as we should because we didn’t get the filing done. That never happens now.
Focusing on Doing What We Do Best
If I was going to give advice to an OD who was considering outsourcing billing, I would recommend it. Our philosophy is that we want to be tremendous eyecare providers and we want to focus on providing great eyecare. We’re not a billing company, that’s not what we’re about. We’re all about great eyecare.We’re going to let the experts in billing do our billing.
Dan Bristol, OD, is the owner of Bristol Family Eyecare, which has three locations in the Austin, Texas, area.