GeBBS has maintained a team of 150+ experienced analysts specialized in resolving credit balances since 2010 resulting in 30% cost savings.
Client: A large RCM company servicing over 4,400 hospitals and physician groups nationwide.
- Company acquired contract from a hospital, with over $123 million in A/R
- Over $32 million in credit balances
- Incorrectly posted payments
- Patient overpayments of over $3.75 million – Contract manager issues
- Compliance risk due to credit balances not resolved in a timely manner
- Credit balance accounts growing at an alarming rate
- Distorted A/R due to unresolved credits
- Instant requirement of reducing credits from $32 million to under $15 million
The GeBBS Solution
GeBBS has maintained a team specialized in resolving credit balances since 2010. The team is comprised of highly-qualified individuals with a hospital accounting background and strong analytical skills. As part of the implementation, an experienced GeBBS transition manager was deployed on site to understand the clients existing workflow. A team of 18 FTEs were assigned to analyze the credit balances and identify root causes.
Highlights of the solution include:
- Detailed study of credit balance accounts and payment posting processes • Review of ERS rules engine on the client’s billing system and process improvements
- Account balance based resolution strategy implemented
- Patient credits moved to outstanding patient accounts
- Incorrect contractual adjustments reversed
- Unclaimed property worth $4.5 million adjusted within three business days
- Credit balances reduced from $32 million to $15 million in 45 days
- Process improvements made to prevent new credits
- Replacement of contract manager to ensure correct contractual adjustments
- ERS rules engine updated to prevent automated posting that would create new credits • Further reduction from $15 million to under $6 million in 90 days
- Old credits over six months resolved on priority
- Compliance risks mitigated
GeBBS credit balance analysts are among the most experienced revenue cycle consultants in the industry. They undergo a rigorous selection and training process to ensure they can handle complex credit balances cases.
Key Features of GeBBS’ Solutions
- 150+ experienced credit balance analysts
- 30% average cost savings of managing credits
- Secondary billing opportunities
- Increase compliance
- Increase profits
- Scalable: quick ramp up, flexible deployment models
- Focus on process improvement: prevent new credit balances