Revenue Increase
in 3 Months
Learn how DXM Acupuncture Inc. partnered with MediBillMD to streamline the credentialing and contracting process and increase revenue by 80% in just 3 months.
The Challenge
Impact of Credentialing Delays on DXM Acupuncture Inc.
DXM Acupuncture Inc. was struggling to deal with the following challenges:
Needs Assessment
We conducted a thorough assessment to understand the specific needs, credentialing requirements, and challenges of the group practice.
Operational Bottlenecks
The uncertainty surrounding credentialing created significant operational bottlenecks, leading to delays in provider onboarding and impacting revenue generation.
Financial Strain
These delays and inefficiencies resulted in increased operating costs, unsteady cash flow, and difficulty meeting group practice’s financial goals.
The Solution
A Client-Centric Approach to Credentialing
We implemented the following strategies to effectively address the challenges faced by DXM Acupuncture Inc.
Needs Assessment
We conducted a thorough assessment to understand the specific needs, credentialing requirements, and challenges of the group practice.
Documentation Management
We assisted DXM Acupuncture Inc. in gathering and organizing all the necessary documentation, ensuring its completeness and accuracy to expedite the credentialing process.
Strategic Application Submission
We identified the most appropriate applications for each provider and submitted them to the relevant payers based on the analysis.
Proactive Communication
We maintained consistent and proactive communication with payers and regulatory bodies, ensuring timely updates and addressing inquiries.
Performance Monitoring & Reporting
We implemented a robust performance tracking system, utilizing tools like Teamwork to monitor progress, identify potential roadblocks, and generate regular reports for DXM Acupuncture Inc.
The MediBillMD Difference
80%
30%
Reduction
in Administrative Burden
100%
Successfully Passed
Audit with 0 Penalties
80%
Reduction in Credentialing
Processing Time
The Results
Delivering Financial Success
DXM Acupuncture Inc. experienced significant improvements in revenue and operational efficiency by partnering with us for credentialing and contracting services:
Streamlined Credentialing
Our approach significantly accelerated the credentialing process, reducing the time to register patients with payers from 60-120 days (standard) to only 30 days.
Improved Cash Flow
We helped DXM Acupuncture Inc. improve cash flow and reduce the financial impact of delayed reimbursement.
Increased Revenue Generation
With providers credentialed more quickly, the group practice was able to attend to patients sooner, leading to increased revenue generation.
Enhanced Operational Efficiency
Simplified credentialing processes freed up internal resources, allowing the practice to focus on patient care and other critical operational areas.
Wanna know how MediBillMD’s credentialing and contracting services turned the table for the group practice, DXM Acupuncture, Inc.?
