RWJ Barnabas Health started as a small ambulance provider and has expanded into one of the largest hospital systems in NJ. Today, RWJ handles a growing volume of 120,000 ambulance transports and generates $58 million in annual gross revenue. This case study highlights our pivotal role in that growth. We have provided much more than just Revenue Cycle Services.
Solution
Our internal audit and compliance review uncovered unrealized billable events, resulting in over $200,000 in additional annual revenue. Poor billing and coding compliance posed a risk, leading to an estimated $300,000 in lost revenue each year. Additionally, outdated charges and contracted rates amounted to approximately $325,000 per year in gross revenue. Days outstanding were at 140, compared to 80 days with our existing customer. We provided SCHS’s field team with training on documentation to bring claims management back into compliance and ensure proper billing and coding. The lack of up-to-date expertise and leadership in the ambulance industry led to the decision to partner with MediDecoder.
Results
We reduced A/R and denials across all categories by 45%. Ultimately, SCHS has gained significant benefits from our expert EMS revenue cycle services, as projected in our sales presentation. Over the next 18 months, we improved SCHS's cash flow by $1.1 million.
