Practice grows and thrives with Coronis partnership

Posted by Mike Linder on Aug 13, 2019 4:42:04 PM

 

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“Coronis is like that great nurse that knows what to do in the most critical time that you can always rely on-you never had to worry about the billing, the collections etc. because they got it!”.

In 2003, a small cardiology group joined Coronis Health. The group had four doctors, one small office, no automation, and about $300,000 dollars in monthly revenue. It was clear from the beginning that their revenue cycle was weak, producing poor results and that the president, while a brilliant cardiologist with a great vision and a good mind, needed someone to help him strategize and run his business.

In no time, Coronis turned their revenue cycle around, automating many steps (like scheduling etc.) and quickly accomplished outstanding measurable revenue cycle results (see before and after comparison).

Early on, Coronis worked with the cardiology group to screen integrated EMR/PM solutions, select an EMR vendor, negotiate the contract and implement it. Coronis worked with the practice to recruit new physicians and negotiate new office leases. We also helped the practice understand the value of ancillaries in their office and represents the practice in every phase of the implementation of those ancillaries-identify the ancillary, negotiate best prices on equipment, staff the ancillary etc. Over the years, this process was duplicated with nuclear medicine services, echo services, CT-PET, and development of an office device check and monitoring department.

Coronis worked with the practice to understand the value of an in-office Cath lab, assisting them first with negotiating time in a Cath Lab, then negotiating payer contracts, and eventually building and sourcing their own Cath Lab.

The President, often says they “couldn’t have grown without Coronis”

As reimbursement continued to decline for certain cardiac and imaging procedures, the practice needed alternate sources of revenue. In addition to the aforementioned Cath Lab, Coronis helped educate the practice on the value of owning/operating an ASC to capitalize on the great reimbursement available on certain procedures like implanting/explanting AICDs, pacemakers, loop recorders, and similar procedures. At first, Coronis attempted to arrange time share leasing arrangements with existing ASCs but couldn’t get ASCs to come to the table. So, the practice and Coronis worked for 2 years developing and constructing their own ASC. The ASC has been accredited for nearly a year and is serving patients with Medicare and many other insurance companies.

Coronis continues to play a role in the practice's success and growth proving revenue cycle services and practice management consulting. 

“Coronis understands our business, our specialty, our industry better than any company I have ever met”. 

Topics: Cardiology, Revenue Cycle, medical billing, revenue cycle management

Coronis Health strives to provide valuable healthcare billing, revenue cycle and practice management information to practices and hospitals. Our blog is one of the many ways we serve as a resource to the healthcare community. Here you'll find articles on:

  • Reimbursement and coding changes
  • Tips and tricks for specialty practices
  • Resources for revenue cycle success

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