How Next Step Orthopedics Cut Time-To-Revenue By 50% And Built A Stronger Revenue Infrastructure
See how ClaiMed Solutions helped an orthopedic practice reduce revenue delays, improve collections, eliminate zero-pay claims, and create a more predictable revenue cycle.
Client
Next Step Orthopedics
Specialty
Orthopedics
Engagement
Revenue Cycle Optimization & Revenue Infrastructure Development
The Challenge
When Next Step Orthopedics partnered with ClaiMed, the practice was experiencing multiple revenue cycle challenges that were negatively impacting cash flow and collections.
Challenges Included:
These issues created unnecessary delays between patient visits and reimbursement.
The Solution
ClaiMed implemented a comprehensive Revenue Recovery & Growth System™ focused on stabilizing and optimizing revenue operations.
Key Initiatives
Revenue Recovery
Revenue Protection
Revenue Growth
Results
Time to Revenue
Before:
34 Days
After:
17 Days
Improvement:
50% Faster
Days in Accounts Receivable
Before:
43.9 Days
After:
20 Days
Improvement:
54% Reduction
Denial Rate
Industry Benchmark:
9.4%
After ClaiMed:
2.8% – 5.8%
Charge Entry Turnaround
Industry Benchmark:
8 Days
After ClaiMed:
0.1 Days
Zero-Pay Claims
Before:
Recurring Issue
After:
Eliminated
Testimonial
Before working with Kimi, our billing protocol was in disarray. Kimi addressed ongoing timely filing issues and zero-pay claims, reconciling a year's worth of claims in just three months. She consistently calls insurers and is meticulous about identifying and resolving issues to ensure our claims get paid.
Since partnering with Kimi, our time from visit to revenue was cut in half to 17 days. Our days in accounts receivable are now 20 compared to the benchmark of 43.9. Our denial rate is between 2.8% and 5.8% compared to the benchmark of 9.4%.
I would highly recommend Kimi and ClaiMed Solutions. They treat your money as if it were their own.
— Practice Leadership, Next Step Orthopedics
Wondering What Revenue Opportunities Are Hiding Inside Your Practice?
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