Client Profile:
Maxim Management Services is a Cheektowaga, NY based Medical Service Organization providing administrative services to meet the needs of any medical practice.
Challenge:
Beginning in 2014, corporate leadership at Maxim heard frequent issues concerning transcription quality and turnaround time (TAT). When looking into the escalations, they discovered the need for additional manpower, managerial staff, and coverage for nights and holidays.
- Escalating patient complaints
- High cost of transcription with inherent inefficiencies
- Lack of 24/7 coverage for critical documentation services
- Provider dissatisfaction
- Lost revenue
Approach:
AQuity offered Maxim a unique, operational framework that solved the problem while being cost effective. Taking over the transcription service, AQuity quickly controlled the situation with decades of problem-solving skills and proven expertise in process optimization using Six Sigma and TQM models. Additional levels of quality control and automated error detection resulted in a drastic reduction of transcription errors. The commitment to quality was immediately noticed by providers. To make the integration complete, AQuity took over the transcription team, reinstating record efficiency with a huge direct and recurring cost savings to Maxim.
Maxim entrusted the AQuity Physician Practice Management & RCM Services team with coding, vital practice management activities and billing functions. The team quickly mastered the Medent EHR platform, and numbers indicated a steady improvement with faster claims processing, reduced denials, and a justifiable increased cash flow.
- Took over transcription headcount and associated costs
- Entrusted with medical coding and other practice management activities
- Mastered the Medent EHR platform
- Virtual 24/7, 365 coverage
- Combined in-depth platform skills with process optimization techniques to improve efficiency
Results:
The collaboration established a set of best practices in Urology services, including an integrated approach to managing clinical documentation, medical coding and billing. AQuity handles other auxiliary services as well, such as patient summary sheets and database updates.
- Improved transcription quality and TAT
- Satisfied providers and HIM
- More engaging and predictable care delivery experience
- Patients reported noticeable improvements in experience and satisfaction
- High quality documentation
- On-time claim submissions and minimized denials
- Improved justifiable revenue
To learn more about AQuity Solutions Physician Office Services, contact us today at info@aquitysolutions.com.
