In January 1997, PPI was referred to physicians at Southwest Orthopedic Institute (SOI). SOI, a twenty-four physician orthopedic group, had been affiliated with a multispecialty physician practice management company, Allied Physicians of DFW, P.A. that by January of 1997 was on the brink of bankruptcy. SOI retained PPI to provide guidance with regard to strategic alternatives. However, within one week, Allied filed for bankruptcy taking all of SOI’s accounts receivable and terminating all billing functions, accounting, payroll, benefits and all other business processes. Immediately, PPI arranged for a $1 million line of credit with a local bank so that SOI could meet payroll and other expenses. PPI immediately established new payroll and accounting functions, established employee benefits, hired and re-established billing and collection functions, and implemented all new practice management systems. From a strategic perspective, PPI ultimately repositioned the physicians into a new group practice and renamed the group Orthopedic Specialists and reformulated the group’s governance and compensation structure. The results of PPI’s efforts yielded an economically improved group including a 20% reduction in the group overhead ratio and a collection rate far in excess of historical averages.

“We retained Practice Performance when our practice was involved with the failure of a large multispecialty group. During that period, PPI identified our problems, proposed solutions, and moved ahead to solve all of our problems and improve our group practice. Their knowledge on the business aspects of medicine is superb. Since we began working with PPI, our profitability has increased by at least 20 to 30%.

In my opinion, the best decision I have made in 15 years of practice is to hire Practice Performance.” Jim Montgomery, M.D., Orthopedic Specialist, PLLC.

“We needed a turnaround agent and Practice Performance was terrific. They stepped in immediately and helped us address our problems and re-established all of our managed care business. As advisors, they have provided us with exceptional strategic vision that has improved our market position.”

Kevin Gill, M.D., Orthopedic Specialists, PLLC.

Improving PPI billing and collections requires accurate information, timely data and considerable operational expertise. PPI offers health systems and physicians a full range of professional billing and collection services designed to optimize revenue using a PPI calculator. Results are measured against our financial summary reports for continuous performance evaluation and improvement.

PPI’s customized reporting provides physicians and practice managers with clear, concise financial measures and statistics. Among the indicators tracked are revenue, accounts receivable, denial rate, collection rate, carrier performance and write-offs. These reports provide the ability to track performance against improvements in order to evaluate the need further initiatives.

PPI will customize services to meet the needs of each customer; however, billing and collection service arrangements generally follow either a “Batch Billing” or Billing + ASP model. In both models, PPI performs billing and collection functions including preparation and submission of bills, pre-collection contacts, forwarding of unpaid balances to collection services as set forth on practice protocols, recording of payments, adjustments to accounts, and reporting.

Top five Five reasons you should let PPI handle your billing and collections:

1. Improve Cash Flow and Collections: If we are able to increase your office’s collection rate a few percentage points, the improved performance will pay for themselves.
2. Change the Fixed Costs of Billing to a Variable Cost: This lowers your business risk. If collections decrease because of lower patient volumes or periods of absence due to vacation, your billing expense also decreases.
3. We are Vested with You: Because we are paid on a percentage of collections, we are vested in maximizing your cash flow and collections. From checking your charges to ensure that they are above your payor negotiated rates eligibles to following up on down -coded claims or communicating with your front office staff to decrease denials, we are partners with your business office staff.
4. You Do Not Pay Us Until You Collect: Because every denial is a cost to us, you pay us only when you collect on a claim. Moreover, because we are paid based on a percentage of collections (not charges), we cover all of your overhead costs (staff payrolls, postage, forms, etc.) upfront. Therefore, if your practice grows or you are a physician starting a new practice, using our service helps to finance your start up.
5. Checks and Balances: By outsourcing your billing and collections, you have better checks and balances on the running of your business office. You have an external perspective on best practice office work flow procedures and overall practice performance.

We will optimize collections using a PPI calculator so you can focus on delivering stellar healthcare.

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