post-merger systems integration

Streamlining Post-Merger Integrations

Streamlining Post-Merger Integrations

When merging two or more practice groups together, there’s a considerable amount of work to be done in negotiating agreements and in working through all of the organizational details. Some may say, however, that after the papers are signed, the real work is just getting started. When it comes to the revenue cycle management side of things, what happens next with submitting claims, billing patients, payment posting, and denials is mainly dictated by the level of autonomy each provider group will have.    

A/R Management and Financial Reporting

Centralized vs. decentralized business models are vastly different in managing the combined new group. Depending on the type of merger and how the individual groups have agreed to operate, integrating A/R management and financial reporting processes can be one of the more significant, time-consuming challenges. This is particularly true when the groups are using different Practice Management (PM) systems, Clearinghouses and Banks to manage their cash. The introduction of a new PM platform immediately following a merger can lead to delays in billing. With those delays, cash flow will ultimately be affected. Strategically outsourcing certain revenue cycle processes can, in many cases, make the transition much smoother — while also allowing for staff to adapt to the new organization. 

Selecting the Right Post-Merger BPO Partners

Selecting a capable Business Process Outsourcing (BPO) partner is crucial to ensuring that the post-merger transition goes as smooth as possible. It’s important to make sure that the vendor has experience in integrating to all of your Line of Business (LOB) systems and Clearinghouse/Bank financial partners. They also need to have a full understanding of your EDI parsing (i.e., splitting) and funds distribution requirements. 

To accelerate post-merger revenue cycle processes, Healthcare Advisory Consultants and EMR vendors will often bring in ReMedics to support a multi-submitter, single receiver business environment.

Some of the advantages in working with ReMedics for your M&A growth include:  

  • Ability to utilize a single corporate bank account to track all incoming deposits
  • Ability to utilize a corporate lockbox for centralized EOB, claim & correspondence capture
  • Practices can maintain existing banking and clearinghouse relationships and accounts
  • Practices can maintain the use of existing EMR and PM systems
  • EDI and paper-based claim capture with rules-based validation to identify missing data
  • Normalized 835 & 837 data across all payors and providers
  • Experience with dozens of banks at both national and regional levels
  • Clearinghouse agnostic solutions to leverage existing relationships
  • Expertise in multiple submitter, single receiver services for complex provider environments
  • Workflow solutions for both Eligibility (270 / 271) and Claims Status (276 / 277) inquiry and response transactions 
  • New mergers and/or acquisitions are easily incorporated into existing contracts and work schedules
  • Efficient, timely payment posting and consistent cash flow
  • Funds distribution, customized to each practice group or MSO requirements

Physician Group Merger and Aggregation Strategies

ReMedics has experience in working with all major EMR/PM Systems and with multi-system business models that will help you to plan for a more successful merger & acquisition strategy. By processing payments for multiple semi-autonomous divisions, we can help to position your physician group or MSO for streamlined integrations going forward. For some organizations, a migration strategy that is phased in over time is the better option.

Don’t let post-merger integrations or autonomy requirements be a deal breaker in expanding your business! If you want to learn more about how ReMedics can help with your future mergers, Contact Us online — or call 440-671-7700.