Welcome to Adonis's quarterly report index, where we spotlight the tangible benefits our solutions have delivered to three distinguished healthcare practices. With innovative solutions tailored to fit the unique needs of each specialty, Adonis is going deeper and richer than any other RCM solution that's presently available to the Healthcare industry. This quarter, we've emphasized how our services have greatly improved the financial health of our partners, driving down their costs while increasing their collection rates. By comparing their metrics before and after their collaboration with Adonis, our impact becomes evident.
Industry Wide Insights
Maximize revenue outcomes that enable healthcare providers to deliver the highest form of patient care is an operational necessity. Specifically, within the Behavioral Health, Dermatology, and Hospital Systems, the collection rate plays a significant role in the overall financial health of a practice. Our findings indicate that not only did our solutions boost the collection rate of our partners, but their rates surpassed their specialty average by 11%.
Hospital Systems Spotlight: The Adonis Advantage
- The Hospital Systems, typified by our collaboration with a renowned Hospital System, faced a multitude of challenges. The lack of actionable insights into the health of their RCM, combined with messy siloed data, crippled their efficiency.
- A significant underpayment issue loomed large as payers were remitting less than their contractual obligations.
- We made significant inroads in improving their collection rate and days in A/R. Our systems promptly unveiled previously missed revenue opportunities.
By The Numbers: Revenue Intelligence At Hospital And Healthcare Systems
Revenue Intelligence — Scrubber Edits
Ensured clean claims submission and fewer denials.
Revenue Intelligence — Alerting
Proactive alerts ensured quick rectifications of denial and AR issues, thereby streamlining RCM.
Revenue Intelligence — Underpayments
Through our vigilant monitoring, over $3 million in missed revenue was identified, with the analysis of more than 10 million claim records.
Dermatology Practice Spotlight: The Adonis Impact
- Dermatology practices, represented by our association with a leading Dermatology Practice, grappled with low collection rates. The reason was primarily the unclear patient statements dispatched much after the service date, leading to high call volumes, patient confusion, and dissatisfaction.
- With our intervention, there was a marked surge in patient collection rates and a considerable decrease in call volumes. This transformation heralded a new era of patient satisfaction.
By The Numbers: End-to-End Billing at Dermatology Practice
End-to-End Medical Billing Services
Our system facilitated the collection of over $400k in patient payments within the first 3 months of launching. The net collection rate touched a remarkable 94% while denials plummeted to 3%.
Phone Concierge Service
Resulted in a substantial dip in patient call volume, addressing concerns related to patient statements.
The collection rate for patient cost share increased by 21% in the initial 3 months of launching.
Behavioral Health Spotlight: The Adonis Impact
- Focusing on a digital-first mental health company dedicated to seniors, the challenges were unique. As a burgeoning startup, they sought a tech-savvy RCM collaborator, capable of matching their exponential growth.
- By harmoniously amalgamating human acumen with cutting-edge technology, Adonis played an instrumental role in uplifting their business. Our revenue intelligence, dovetailed with end-to-end billing, ensured that their collection rates and patient experiences remained unparalleled.
By The Numbers: End-to-End Billing for Behavioral Health
End-to-End Medical Billing Services
Our solutions seamlessly supported a 40% month-over-month spike in claims processed. As the visits culminated, patients received bills the subsequent day. The original expected reimbursement with provider coding compared to Adonis E2E coding was 64% higher.