Delivering an end-to-end revenue cycle management, the firm’s spectrum of solutions includes educating the practice on business procedures and processes—from adequately coding to efficiently billing—thereby helping identify gaps. CGM US focuses explicitly on two components: product and service. The product component is delivered with an onsite training package that the firm implements and offers virtually. With regards to service, organizations receive a dedicated accounts manager, a diligent analytics manager, and a billing and coding team. The firm’s success is measured by the way the practice operates, as well as the cash flow of the practice. “Implementation of these solutions has changed over time because with complexities taking over additional checks and balance processes, a unified team approach based upon specialty had to be instilled by us,” elucidates Brandon Franklin, VP of RCM at CGM US.
Following a ‘single point of contact model,’ the firm focuses on small to medium-sized clients and large clients such as hospitals.
However, since every client is different, the firm segregates their requirements and caters to their needs accordingly. One such client was a hospital in Northern California that had a multitude of different issues, the primary one being staffing. They found it quite challenging to find highly qualified employees that understood coding based on the new complexities within the healthcare sector. Moreover, the hospital also had multiple different data sources and sets without a way to aggregate it; hence, they could not provide a strong day-to-day analytical overview of where they were at, what they needed to do, and how to get to where they wanted. CompuGroup Medical US stepped in to help the hospital.
Connecting doctors, hospitals, health insurers, pharmacists, and other healthcare stakeholders, the firm assures optimized care, improved efficiency, increased patient satisfaction, and enhanced profitability
Initially, the firm retained some of the hospital staff and provided an onsite as well as a remote solution for them. It implemented software and a data analytics package, and began educating the existing staff on billing procedures. The firm began normalizing and structuring the existing billing processes to identify gaps, and also started coaching providers on coding those gaps to maximize revenue based on current standards. Once the processes were in place, the hospital was provided with ongoing reports based on KPIs and metrics. This brought about continuous improvement in the hospital’s work and increased their billing by roughly 21 percent, while maintaining the same level of cost.
Currently, the firm is looking to double the FTE count within the Phoenix marketplace. In addition, it is looking to expand in regional areas across the US—from the Southeast to the Northeast, the Midwest, to the Southwest—for local facilities that will support clients within a three-hour radius, adding more value. “We are also looking to enhance our next-generation EHR and practice management software as well as its backend billing desk to support all its revenue cycle management,” concludes Franklin.