Physician Practice Group Mergers & Acquisitions

Maintaining Line of Business (LOB) Systems During and After a Practice Group Merger

One of the many details to be navigated when facilitating a merger (or acquisition) is with switching an entire group of doctors and their support staff over to a dissimilar Practice Management System (PMS). The additional time spent with installation, staff training and vendor support can result in unexpected delays that can affect cash posting, denial rates, employee morale and the overall success of a merger. Minimizing disruption to core business systems for a year (or several years) can provide a more cost-efficient and less stressful long-term merger strategy.

ReMedics outsourced payment processing from multiple PMS/AR platforms, clearinghouses and lockboxes can save a considerable amount of time and implementation costs with merging two or more practice groups. Cash management benefits are further realized with our integrated reporting and analytics services while maintaining existing business system investments.

Minimizing Risk to Cash Flow with a Multi-Submitter, Single Receiver Business Model

If maintaining current investments and cash flow is a major concern with an impending group merger, ReMedics can work with your team and financial consultants to develop a strategy that cuts across all business units, AR departments and systems integration roadblocks — from charge capture and EOB processing to payment posting and bank reconciliation. Because we are capable of working with multiple PMS & EMR systems in a multi-submitter, single receiver business environment, we minimize risk and disruption to the business. This helps merging groups to maintain their current billing and collections autonomy, while still reporting to a corporate account.

Automated Payment Posting with Artificial Intelligence (AI) & Machine Learning Processes

Utilizing one or several lockboxes for capturing EOBs, claims & correspondence, our proprietary interfaces and workflow technologies take all of the data received into our payment validation editor. This includes all paper and EDI documentation. ReMedics experienced staff then examines each claim in a batch file to make sure that it’s either validated or added to actionable exception worklists with access to a Document Management/ECM system for EOB and Correspondence retrieval. The worklists allow for our staff and/or clients to quickly resolve issues with missing or incorrect information. This AI, machine learning process also identifies claims that would typically be denied before it actually happens.

For validated (clean) claims, we then automatically post the payments for each business unit to a single corporate account, with the appropriate funds being applied to each group and to the patient account. Management is provided with status reporting scorecards by Business Group, Payor, Batch Number, Posting Date and other relevant data that helps your team with making permanent revenue cycle management improvements.  

Practice Group Aggregation Strategies

Still Interested? If you’re considering a merger or acquisition, or want to discuss practice group aggregation strategies, let’s talk about how our unique combination of outsourced services, systems integration and workflow automation capabilities can work for you. Contact us online — or call 440-671-7700.

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