Platinum Dermatology Partners improved collections by 20% with increased visibility and transparency in business operations with 

CLIENT:

INDUSTRY AND TYPE OF COMPANY:

HEALTHCARE PRACTICE

COMPANY SIZE:

125+ PRACTICES OVER 5 STATES

NUMBER OF DATA SOURCES:

BUSINESS SYSTEMS / APPLICATIONS

15 SYSTEMS OF RECORD

GOALS

  • Gain control of provider utilization metrics. 
  • Have enterprise-wide reporting across all 15 systems of record (EHR, PMS, Finance, etc.). 
  • Automate adjusting journal entries from PMS into Financials. 
  • “Ensure that every visit is accounted for”: reconcile all visit records to charge lags, visit no charge, delays, no-shows. 
  • Improve patient experience: measure no-shows, start promotions to fill excess capacity. 
  • Cash flow, receivables, and aging reports. 
  •  

CHALLENGES

  • Disparate transactional systems held critical pieces of the management reporting data puzzle. 
  • Rapid growth through consolidation of existing large practices. 
  • Path to profitability was impacted by different compensation models inherited from the acquired companies 
  • Needed to build a unified provider performance model to support overall profitability.

SOLUTIONS

  • Built a data warehouse covering all subject areas. 
  • Designed and implemented a reference data management system including master data management. 
  • Extensive suite of business-focused reports and dashboards. 
  • Business process optimization and productivity reporting. 
  • Executive and enterprise-level KPIs. 
  • Marketing and campaign management analytics. 

RESULTS

  • Visibility and transparency into business operations and contribution to margins.  
  • Provider utilization at a detailed level. 
  • Fine-tuned staffing and capacity planning.  
  • Increased staff retention. 
  • Improved visit show rates. 
  • 20% collections improvement, reduced charge lags and claim denials. 
  • Over the counter collection reports. 
  • Streamlined claim rejection and denial processing. 
At  , our clients typically see

10x ROI within 6 months.

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