Free Financial Check-Up
We find missing revenue in 95% of our financial checkups.
Missing revenue holds practices back from growing and limits their ability to remain independent. Health offers free financial checkups to medical practices and facilities so you can see exactly how our expert team can help your practice grow.
How Your Financial Checkup Will Be Performed
First, you may complete this form to let us know you’d like an assessment.
One of our team members will reach out to you to schedule time to talk through your unique case. Either through a conversation over the phone or through email, we will request the necessary information from you to complete your financial checkup. The main information we will need is:
- Month end reports from the past 6-12 months to review the average number of claims filed, how much money you’re collecting, and more
- Average monthly collections for the past 6-12 months
- For hospitals and medical facilities, we will need an Aged Trial Balance (ATB) in spreadsheet form
Receiving this information will allow us to evaluate your Accounts Receivable and show you where future issues are potentially hiding.
You may also choose to grant us temporary access to your billing system so we can log in and look into the data ourselves. We will export what we need and then:
- Analyze it
- Compile it into a report of charts and drafts
- Break it down into aging buckets.
With this breakdown, we’ll be able to help you evaluate where to apply resources and where you should spend efforts to more thoroughly collect.
What You Will Learn After Your Checkup
Once your checkup is complete, we’ll tell you whether you are collecting what you should be and show you:
- Your practice’s performance and KPIs compared to industry benchmarks
- If a patient walked in with a balance and left with an even higher balance
- Your best payors and your most troublesome
- Denial trends and recommend processes to correct them
- Whether or not you are profitable on high-cost materials or procedures
- Your most productive providers via RVU and other productivity measures
- Your E/M bell curve and whether you might be at risk for an audit
- Whether certain referring providers are causing issues relating to demographics or patient information
We can also answer questions such as:
- What is the maximum collection percentage by payer and/or procedure code, and are we achieving it?
- Are payers reimbursing us the correct amount based on our contracts?
- What is our average turnaround time from billing to payment?
- Are our providers signing off and closing their charts in a timely manner?
- How well is my practice performing with collecting co-pays or other outstanding balances at the front desk?
- Which referring providers generate the most business for us?
- What is our bad debt ratio?
- What are our most common denials, and are they related to our front-end administration or our back-end operations?
- What is our clean claim rate, and can it be improved?
- Are we over or under coding?
Ready for Coronis to find your missing revenue?
Get Your free 1:1 financial checkup. We find missing revenue in over 95% of our checkups.