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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.

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CASE STUDY

Advance Medical Group

Client

Advance Medical Group

Service Date

2020 - Present

Services

Medical Billing & Coding

01/05

The Introduction

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.

The Introduction
01/05

The Introduction

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.

Practice Providers

merwin

Merwin Richard, MD

Cardiologist

christopher

MChristopher Samaniego, DM

Podiatrist

radhika

Radhika Patel, PA-C

Physician

enrique

Enrique Chappiliquen, PA-C

Physical Assistant

aishwariya

Aishwarya Parab, PT

Physical Therapist

Practice Providers

merwin

Merwin Richard, MD

Cardiologist

aishwariya

Aishwarya Parab, PT

Physical Therapist

iRCM Practive Image
02/05

The Problem

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.

02/05

The Problem

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.

03/05

Strategy

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.

Read the full Medical Group Case Study Now

iRCM Practive Image 2
04/05

Our Goals

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.

04/05

Our Goals

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.

girl img
“Just our sincere gratitude for your prompt and helpful guidance throughout our credentialing process. I am gladly writing you this for commendation to iRCM for the exceptional customer service you have extended to us thus far.”

Ilia Shengelia - Office Manager, Rockaway Medical Care, PC

Results
05/05

Results

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.

05/05

Results

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.

19.59% to 30%

Payment To Charge Ratio

183%

Increase in Revenue

48% to 82%

Collection Rate

386%

Increase in Patient Count

revenue-increase

Conclusion

By transitioning billing services to iRCM Inc, Advanced Medical Group has increased its revenue by up to 183%, reduced claim rejections, and improved the payment-to-charge ratio to 30%. Our automated processes have enabled them to capture all charges from provider documentation, identify and correct coding errors, and submit electronic claims efficiently. This success is mainly attributed to iRCM’s advanced expertise and automated processes that enabled them to perform activities accurately with minimal manual intervention.

Want to learn more about how iRCM can take care of your practice?

Visit ircm.com or

Call us at 1-800-516-5234 to schedule a meeting.

Want to learn more about how iRCM can take care of your practice?

Visit ircm.com or

call us at 1-800-516-5234 to schedule a meeting.