Podiatrist Case Study

“Now I can focus on patient care and not have to worry about my cash flow.  Sterling has put me at ease.”

The Situation

A podiatrist practicing in the Philadelphia area was not satisfied with the results that he was receiving from his third party billing company. His concerns were not unlike those of similar sole practitioners that utilize third party billing companies.

• Amounts collected seemed insufficient.
• It appeared that denials and rejections were being improperly re-submitted as his aged receivable balances continued to increase.
• Surgeries and worker’s compensation charges that require more expertise than basic claims processing were not being collected.
• His billing service was not proactive in communicating with him or his staff.
• Questions that were raised with the billing company were poorly answered or unresolved.

Billing Transition to Sterling

When he contacted Sterling and expressed his concerns, Sterling thoroughly reviewed a recent month of his practice’s activity and subsequent collections.  His concerns were confirmed and he agreed to engage Sterling.

Sterling established procedures with his office staff to strengthen the receivables management process.  Patient and surgical calendars were shared with Sterling to insure that all patients seen were billed.  Pre-appointment insurance verification and referral collection procedures were tightened. New patient demographic and insurance information was more closely scrutinized. Procedures for recording patient co-payments were enhanced.  Exception reporting procedures between the practice and Sterling were implemented. This resulted in timelier follow up of informational errors. A more personalized approach to following up on open balances with patients was also initiated.  Summarized monthly reports were provided to the practice to monitor results and plan for the practice’s future.

Sterling Billing Results

Objectives were met and exceeded.  The practice’s collections have improved by over 20%.  Payments are being made more quickly.  The practice’s days of receivables outstanding is now well below industry norms.  The practice is now able to plan for expansion knowing that receivables management and patient service will not be a concern.  Sterling has become a valuable extension of the podiatrist’s practice.

Call SMFS at 215-672-6780 to see how your financial results can improve.