iRCM is an industry leader with innovative technology and an expert team. We are a complete Revenue Cycle Management solution that streamlines reimbursements and delivers remarkable results.
iRCM is an industry leader with innovative technology and an expert team. We are a complete Revenue Cycle Management solution that streamlines reimbursements and delivers remarkable results.
Advance Medical Group
2020 - Present
Medical Billing & Coding
Advanced Medical Group is a multi-specialty group practice that primarily provides advanced medical care and treatments for a variety of cardiology and vascular diagnosis. Led by Merwin Richard, MD, and his team of qualified practitioners, the practice has four major locations throughout New Jersey, offering podiatry, internal medicine, physical therapy, telemedicine and chronic care management services to patients, which primarily focuses on providing quality and personalized attention in a caring, safe environment.
Advanced Medical Group is a multi-specialty group practice that primarily provides advanced medical care and treatments for a variety of cardiology and vascular diagnosis. Led by Merwin Richard, MD, and his team of qualified practitioners, the practice has four major locations throughout New Jersey, offering podiatry, internal medicine, physical therapy, telemedicine and chronic care management services to patients, which primarily focuses on providing quality and personalized attention in a caring, safe environment.
Cardiologist
Podiatrist
Physician
Physical Assistant
Physical Therapist
Cardiologist
Podiatrist
Physical Assistant
Physical Therapist
Physician
Merwin Richard, MD, and his team were facing medical billing issues impacting their revenue. Initially, Advance Medical Group had outsourced its medical billing to 3rd party billing service provider. At the time, the practice had a patient count of “ ” and a collection of “153,539.99” which was competitively low. To optimize practice reimbursement and identify the main bottleneck, they joined hands with iRCM Inc. in September 2022 for end-to-end medical billing services and solutions.
Merwin Richard, MD, and his team were facing medical billing issues impacting their revenue. Initially, Advance Medical Group had outsourced its medical billing to 3rd party billing service provider. At the time, the practice had a patient count of “ ” and a collection of “153,539.99” which was competitively low. To optimize practice reimbursement and identify the main bottleneck, they joined hands with iRCM Inc. in September 2022 for end-to-end medical billing services and solutions.
Our team of experts had the pleasure of sitting down with Merwin Richard, MD, in August 2020 to discuss addressing the primary issues analyzed by our experts in Advance Medical Group. A tailored strategy was developed to provide the most effective solutions possible in medical billing and credentialing areas. Furthermore, our team shared the many benefits of the Quality Payment Program and how QPP can increase revenue while still providing top-notch healthcare services.
The core goal was to increase revenue and reduce claim rejections while achieving a 99% first-time pass rate. The approach included implementing the right billing practices, daily review of ERA/EOBs, timely payment posting and patient balance billing. Additional services, such as securing prior authorizations, should be implemented further to reduce unnecessary workflow burden on providers and office staff. The bottom line was to ensure that their revenue streams are maximized and their healthcare services run smoothly.
The core goal was to increase revenue and reduce claim rejections while achieving a 99% first-time pass rate. The approach included implementing the right billing practices, daily review of ERA/EOBs, timely payment posting and patient balance billing. Additional services, such as securing prior authorizations, should be implemented further to reduce unnecessary workflow burden on providers and office staff. The bottom line was to ensure that their revenue streams are maximized and their healthcare services run smoothly.
The payment-to-charge ratio of practice increased significantly, leading to an impressive revenue boost. Moreover, the competitively low collection rate saw an even more remarkable jump up to 82%. This success was driven by iRCM Inc. advanced expertise and its experienced staff. Their automated processes enabled them to capture all charges from provider documentation, identify and correct coding errors, and submit electronic claims with minimal manual intervention. Additionally, their expert coding staff worked diligently to maximize reimbursement from payers.
The payment-to-charge ratio of practice increased significantly, leading to an impressive revenue boost. Moreover, the competitively low collection rate saw an even more remarkable jump up to 82%. This success was driven by iRCM Inc. advanced expertise and its experienced staff. Their automated processes enabled them to capture all charges from provider documentation, identify and correct coding errors, and submit electronic claims with minimal manual intervention. Additionally, their expert coding staff worked diligently to maximize reimbursement from payers.
Payment To Charge Ratio
Increase in Revenue
Collection Rate
Increase in Patient Count
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iRCM is an industry leader with innovative technology and an expert team. We are a complete Revenue Cycle Management solution that streamlines reimbursements and delivers remarkable results.
