Cash flow is the life blood of any business. It’s especially critical for health care providers, who provide services and rely on timely billing and payment by insurance companies. When “timely” billing doesn’t happen, uncollected debts rise as revenues slacken, affecting everything from payroll to purchasing, debt repayment, and future investments. At some point, aged items are simply written off the books. For some health care providers and organizations, that can amount to millions of dollars.
Overcoming Cash Flow Woes
Oglethorpe operates 10 healthcare centers, wellness clinics, and hospitals that specialize in psychiatric services, drug and alcohol detoxification and rehabilitation, eating disorder therapy and behavioral health counseling. Florida facilities include those in Naples, Port St. Lucie, St. Cloud, Brooksville, and its veteran’s facility in Deland that once housed the Darryl Strawberry Recovery Center. Oglethorpe has three facilities in and around Columbus, Ohio; one in Baton Rouge, Louisiana; and a Nevada facility planned for 2020.
“We get the benefits of all of MCC’s client expertise,” said Caruso, a 30-year veteran in health care finance and also Oglethorpe’s Chief Financial Officer. Aging’s were mountain high.”
“We didn’t have the manpower or the talent to continue to manage that volume.”
With that potential volume of billings missed, the ramifications could be catastrophic.
“They converted all those aging’s into money. Too many billing companies just do the technical side with computers and software. If something’s denied, they leave it at that,” he said. “MCC’s great at interpreting what the carrier is looking for. And they don’t give up. The job isn’t to bill. The job is to collect. Until the money’s in the bank, the job’s not done. They stay with it.”
Beyond Software, There’s Tenacity
As Chief Fiscal Officer, Caruso is the liaison between clinical operations and Oglethorpe’s financial team. To him, MCC is more than a contractor. They’ve suggested operational improvements, and become a critical partner that has helped improve billings, collections, and Oglethorpe’s cash flow.
MCC is celebrating its 25th year of helping health care providers from physicians’ offices to large hospital companies maximize their billings and collections. Then as now, MCC is dedicated to providing clients with effective medical billing services by being that “partner” Oglethorpe relies upon.
“Our expertise, integrity, and compassion have guided our mission to reduce claim errors, decrease turnaround time on payments, and increase reimbursement of claims,” MCC founder and CEO Mayra Perera said.
“We are committed to working as a partner on all aspects of our clients’ medical coding and billing in pursuit of the most effective medical claims process.”