MediDecoder Boosted Revenue by 10% Year-Over-Year for Health System X – MediDecoder

MediDecoder Boosted Revenue by 10% Year-Over-Year for Health System X

Health System X approached MediDecoder seeking to enhance its billing capabilities and improve its specimen processing procedures. The lab team struggled with measuring performance and benchmarking, with minimal visibility into billing department metrics. They questioned how other systems handled similar processes and what best practices were.

The key issues identified were: 1) a lack of expertise, 2) a belief that without performance measurement, there was room for improvement, and 3) a need for better visibility into billing operations.

solutions

MediDecoder Laboratory & Pathology offered a unique opportunity to deliver industry expertise and billing support, helping the client achieve increased success.

Outcomes

● 7% increase in collected revenue year-over-year
● 20 FTE direct staffing savings
● Number of repurposed and open positions canceled due to improved processes in PSCs, Specimen Processing, Pathology, Transplant Medicine, Central Billing Office, and In Vitro Medicine.
● Improved Employee and Patient Satisfaction – Reduced wait times in PSCs and empowered caregivers to focus on caregiving rather than billing tasks.
● Enhanced Financial Analysis, Both Finance and Lab Ops teams have gained access to actionable data with Coronis, which is a consistently noted improvement in helping leadership quickly define and meet objectives.
● Improved Specimen Processing Process: Moved functions to most appropriate areas – moved billing functions to billing.

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