More than just reducing costs

What to expect

Many practice analyses focus just on reducing costs. At Nationwide Solutions, we take a comprehensive approach to practice analysis, analyzing your practice as a small-to-medium-sized business and looking not just for cost reductions, but identifying where and how you can be realizing more revenues, capturing ‘lost’ revenue, and gaining true efficiencies in capital, personnel and processes, and reducing losses. Increasing revenue while lowering costs is desirable. Minimizing compliance risk is also an important goal of a practice analysis.

Let’s look at each of these further

Cost reductions

• Lower cost of billing
• Lower cost of patient financing
• Lower cost of collections
• Eliminate licensing, installation, maintenance and upgrade fees
• Eliminating need for loans, factoring or bridge financing

Achieving additional revenue

• Effective patient payment solutions
• Take more patients resulting from having solved the credit risk problem
• Grow your practice due to having more time available for billable activities
• Internal marketing within your practice
• Higher claims acceptance rate

Capturing ‘lost’ revenue

• Proper coding practices
• Better recovery of past due accounts
• Higher percentage of billed amount paid on those claims that are accepted

Gaining efficiencies

• Healthier cash flow from faster payments
• More predictable cash flow from automated patient payments
• Greater emphasis on creating a superior patient experience
• Less staff hours spent on administrative tasks
• Freedom from managing patient payment and collections functions

Minimizing compliance risk

• Automatically updated system stays in compliance
• Automatic compliance- and error-checking makes audits simple
• Full HIPPA compliance built-in
• HIPPA-compliant email
• EHR compatibility
• RAC Audit preparation

Practice Analysis

A healthy practice entails establishing an ongoing marketing and referral program to get new patients, a program to retain existing patients, outsourced billing using a trusted billing service and web-based delivery platform that takes advantage of existing and future HIT capabilities, the rapid collection of your money, and reducing your costs and losses.

Axioms:

Fast Payments = Strong Operation

Simple and Proven is best

Increasing revenue while reducing costs is bottom line gold

Cash flow is the health of your business

Your Practice Consultant’s mission is to help you increase your revenue and profits while reducing costs and making your practice management easier. Nationwide Solutions offers proven systems in

• Nationwide Real-Time Billing
• EHR Compatibility
• Nationwide Patient Payment
• Nationwide A/R Services
• Nationwide VIP-AutoCard
• RAC Audit Preparation

Bottom line results

Nationwide Solutions gives you proven solutions that help your practice to prosper in today’s evolving HIT and regulatory environment. We continually research and investigate how to bring the best business practices to you as measured by higher profitability and revenue and lowered costs.

Plan for the future today. EHR compatibility will become a standard. Compliance requirements are growing. Get the systems in place today to ensure your practice is successful.


Contact us to schedule your free Practice Analysis.