Get to Know Our Client

North Memorial Health is a leading healthcare provider located in Robbinsdale, Minnesota. With a history dating back to 1954, North Memorial Health has grown to include two hospitals, 24 specialty and primary care clinics, and a dedicated team of over 350 care providers and 6,000 team members. Their mission is to empower patients to achieve their best health through comprehensive and compassionate care.

Challenges Our Client Faced

Inefficient Billing Processes

The outdated billing system led to delays in claims processing, with claims taking an average of 45 days to process. This delay caused a cash flow crunch, making it difficult for the practice to meet operational expenses, including salaries and overhead costs.

High Denial Rates

A denial rate of 20% was a significant barrier, driven by coding errors, incomplete submissions, and insufficient documentation. This resulted in lost revenue and diverted administrative resources to appeals, straining the team’s capacity.

Lack of Transparency

The billing process lacked visibility, making it challenging for staff to track claims effectively. This created frustration for both staff and patients, eroding trust and satisfaction.

Compliance Issues

The healthcare regulatory landscape’s constant changes posed compliance risks. The administrative team struggled to keep up, increasing the potential for audits and financial penalties.

Resource Constraints

With only five billing specialists managing a complex billing cycle, the administrative team was overwhelmed. This limited manpower led to a reactive rather than proactive approach, impacting both billing efficiency and patient care.

What We Offered

QZ Medx implemented a customized medical billing solution provider-friendly to address North Memorial Health Medical’s challenges through technology, training, and strategic oversight.

Streamlining the Medical Billing Process

• Conducted a thorough audit of the existing workflow to identify inefficiencies.
• Introduced an advanced electronic billing system that automated claim submissions.
• Reduced average claims processing time from 45 days to 20 days, significantly improving cash flow and financial stability.

Reducing Denial Rates

• Provided targeted training for staff on accurate coding and documentation.
• Established a pre-claim review process to catch errors before submission.
• Reduced denial rates from 20% to 8% within three months, translating to reclaimed revenue and reduced administrative burden.

Prioritizing in Transparency

• Developed a real-time dashboard for tracking claims, providing detailed metrics on outstanding claims, denials, and payment statuses.
• Increased staff satisfaction by 40%, fostering confidence and reducing frustration.

Getting Along With Modern Med Trends and Regulations

• Delivered ongoing education on healthcare regulations and compliance standards.
• Supported the team through an external audit with zero major compliance issues, minimizing risks and reinforcing credibility.

Alleviating Resource Constraints

• Took over billing operations, reducing the internal billing staff from five to three.
• Allowed the remaining administrative team to focus on critical functions and patient care, improving workload balance and job satisfaction.

Results Our Client Achieved

Improved Cash Flow

• Claims processing time dropped by 55%, from 45 days to 20 days.
• Enhanced cash flow allowed the practice to reinvest in resources and patient services.

Significant Reduction in Denial Rate

• Denial rate reduced from 20% to 8%, a 60% improvement.
• Recovered approximately $150,000 in annual revenue, reinvested in expanding services and enhancing patient care.

A Straight 40% Boost in Staff Satisfaction

• Billing process improvements resulted in a 40% increase in staff satisfaction.
• Reduced administrative burdens allowed staff to focus more on patient engagement.

Increased Focus on Patient Care

• Lightened administrative workload enabled staff to devote more time to patient care.
• Improved patient satisfaction through efficient billing processes and clear communication.

Conclusion

By partnering with QZ Medx, North Memorial Health transformed its billing operations, achieving substantial financial, operational, and patient care improvements. The provider-friendly solutions addressed inefficiencies, reduced denial rates, enhanced transparency, ensured compliance, and alleviated resource constraints. With an additional $150,000 in annual revenue, North Memorial Health is now better positioned to serve its community with excellence.

Want someone to manage your medical billing biz? Contact QZ Medx today and discover how we can help your practice save several thousands to million bucks.