Our On-Boarding System Delivers Uninterrupted Cash Flow
Don’t let anxiety about monthly revenue keep you from making a change.
Physicians and practice managers are often reluctant to change medical billing companies because they are concerned about cash flow during the transition from one company to another. Anxiety about cash flow is one of the main reasons medical practices stay with their existing billing companies — even when they know their current billing company is under performing.
There is never a perfect time to make a change, so you should focus on the end goal — improving your bottom line. Fortunately, Hawthorn has operated under the same management for over 40 years, and we’ve developed proven steps for managing a smooth transition and optimizing cash flow. You can trust Hawthorn to execute a seamless transition and drive more profits to the bottom line — year after year.
Hawthorn uses a 90-day on-boarding period to notify payers, confirm processes, set up electronic interfaces, test systems, and accommodate changes. We’ll examine all aspects of your existing operation, focusing on workflows, coding, claims submissions, rejections, denials, collections and credentialing. We’ll also identify process improvements to create additional revenue and incremental value.
Hawthorn’s step-by-step planning will minimize disruptions to your work flow. We’ll work with your colleagues, team members and IT contacts to establish protocols for processing claims and exchanging data, while your old billing company will be responsible for collecting receivables for all the claims they submit — including claims submitted after the notification date but prior to the activation date.
During the on-boarding stage, we’ll work with your team to streamline processes and minimize disruptions. We’ll share step-by-step task descriptions, checklists, milestones and progress reviews. We will deploy transition specialists to work with your team and ensure success.
Your old billing company will collect your aging accounts receivable (A/R) for at least 90 days. Hawthorn can assist by reviewing your existing A/R and recommending reasonable performance benchmarks for the old billing company. After 60 days of transition, the claims from Hawthorn will be maturing, and you should see collections that offset declining cash receipts from the incumbent billing company. Cash flow will be uninterrupted, with no significant change in monthly revenue.
If you’d like better financial results for your practice, consider the benefits of the Hawthorn Advantage. Click here to learn how we can maximize your reimbursements and increase your profitability.
Hawthorn Physician Services Corporation is a privately-held, nationally-recognized healthcare revenue cycle management firm located in St. Louis, MO and currently operating in all 50 states. Hawthorn serves hospital-based medical practices, including pathologists, anesthesiologists, radiologists, hospitalists, emergency physicians, and radiation oncologists, plus office-based specialties, including internists, cardiologists, endocrinologists, wound care specialists, and infectious-disease physicians.