Revenue Cycle Management
Case Studies
Enhancing AR Team Productivity Through Strategic Target Revision
Challenge:
An Accounts Receivable (AR) follow-up team was facing productivity plateaus, needing to increase daily claim processing volume without compromising the quality or success rate of their work.
Solution:
Executed a data-driven target revision initiative. After analysing existing production data, we increased the average daily production targets by over 17% to challenge the team and streamline workflows.
Results:
The initiative proved highly successful, delivering significant gains in both productivity and efficiency.
• 6% Increase in Target Achievement: Despite higher targets, the team's overall success rate rose from 79% to 85%.
• 26.3% Rise in Production Volume: The team processed an average of 67 additional claims per day with the same resources.
• Demonstrated Scalability: Notable performance was seen in key FQHC accounts. For instance, one account improved its target achievement rate by 14 percentage points, while another recorded a 10-point gain, proving the team's capacity to meet more demanding goals.
• 20% Potential Resource Optimization: The productivity gains created significant operational flexibility, indicating that the previous workload could be managed with approximately 20% fewer resources.
Driving RCM Productivity with Dual Monitor Implementation
Challenge:
A workflow analysis identified a key bottleneck for our high-volume RCM teams: single-monitor workstations. The constant switching between applications for tasks like Charge Entry and Payment Posting created significant inefficiencies and slowed down productivity.
Solution:
Based on a detailed time study, we deployed a dual-monitor configuration across the Charge Entry and Payment Posting departments. This hardware upgrade was designed to create a more efficient visual workspace and eliminate productivity loss from application switching.
Results:
The implementation of dual monitors yielded immediate and substantial improvements in team performance and output across both functions.
• Up to 14% Increase in Charge Entry Speed: The Charge Entry process saw a significant boost in efficiency, with individual performance increasing by as much as 14%. Accuracy also improved, reaching 100% in key areas.
• Up to 13% Faster Payment Posting: The Payment Posting team's productivity increased by up to 13%, allowing for a higher volume of payments to be processed by each team member daily.
• 19% Growth in Overall Throughput: The total number of claims processed by the Payment Posting team during the study period increased by nearly 19%, demonstrating a major enhancement in the department's overall capacity.
Client Testimonials
We have worked with Nsight for just about 10 years. We love working with the people there, and we know we can completely count on them for doing high quality work and for being responsive to our needs. Simply said, we could not do what we do or take care of our clients the way we’re committed to without our partnership with Nsight.
Nsight Global has helped me get my brand new physical therapy business off the ground. They have helped to make sure I get payments from insurance as quickly as possible. They have worked tirelessly to chase down denials and make corrections as needed. They respond quickly to all of my questions and concerns. There is no way I could have survived these last 7 months without them. Having Nsight to do my billing has allowed to me to place my focus on patient care, the thing I love most. I wouldn’t hesitate for a second to recommend them to anyone.
Medical Transcription
Case Studies
Transforming Medical Billing Collections and Slashing AR Days
Challenge:
A client's revenue cycle was crippled by a Meditech system that prevented claim-level tracking, stalling collections at $2.5 million. This core limitation led to inefficient manual workflows, an inability to prioritize claims, and a lack of visibility into the Accounts Receivable (AR).
Solution:
Our team bypassed the system's constraints by building a custom, claim-level inventory from the ground up. This new visibility enabled an aggressive AR reduction campaign focused on high-dollar accounts and aged claims, with a disciplined 10-day follow-up cycle to accelerate resolution.
Results:
The strategic initiatives yielded a significant financial turnaround and a dramatic improvement in operational efficiency over just nine months.
• 36% Increase in Monthly Collections: Monthly collections were boosted from an initial $2.5 million to an average of $3.4 million.
• 43% Reduction in AR Days: Aggressive follow-up and workflow management slashed the average AR days from 72 down to 41.
• 55% Decrease in Aged AR: The percentage of AR in the critical 60+ day bucket was cut by more than half, falling from 36% to just 16%.
Revitalizing Hospital Revenue Cycle: A $6.5M AR Reduction in Nine Months
Challenge:
A hospital's revenue cycle was underperforming, with Accounts Receivable (AR) bloated to $19 million and AR days at 92. Critical issues included severe delays in charge submission (20 days), frequent payment posting errors, and unresolved denials stemming from Meditech system complexities, leading to 45% of AR aging past 90 days.
Solution:
We launched a targeted, multi-pronged strategy to overhaul the entire workflow. This included deploying a high-dollar task force to accelerate resolution on key accounts, optimizing charge submission to a 48-hour turnaround, and correcting systemic payment posting errors. Our Meditech specialists simultaneously addressed the root causes of recurring denials.
Results:
The nine-month engagement produced a dramatic financial and operational turnaround for the hospital.
• 43% Reduction in AR Days: The average time to collect was drastically cut from 92 down to 52 days.
• $6.5 Million Decrease in Outstanding AR: Total Accounts Receivable was reduced by 34%, from $19 million down to $12.5 million.
• 58% Drop in Aged AR: The critical 90+ day AR bucket was shrunk from 45% to just 19% of the total AR.
Client Testimonials
The transcription quality is exceptional. Our physicians have reclaimed hours of their day and our documentation is more thorough than ever.
The turnaround time is remarkable. We receive accurate, complete notes within hours, which has transformed our workflow efficiency.
Accounting/Bookkeeping
Case Studies
Clean up books and ongoing bookkeeping services for an ecommerce client
Challenge:
Client faced a backlog of unreconciled accounts, large transaction volumes across multiple bank accounts, misclassified payroll liabilities, and incomplete categorization of PayPal transactions.
Solution:
Clean up of books for 2 years followed by proper categorization of transactions, accurate reconciliations and financial statements to provide financial clarity and reliable reporting. Continuous collaboration with the client to achieve the expected accuracy and reporting requirements.
Results:
Books were up to date and ready for filing taxes. Continuous bookkeeping maintained clean records.
Accurate bookkeeping & Financial Reporting for Healthcare client
Challenge:
A reliable bookkeeper to manage transaction categorization, bank and credit card reconciliations, invoicing, and monthly financial close with accuracy and timeliness to support the controller.
Solution:
Implemented rules for daily categorization of bank and credit card transactions, performed monthly reconciliation of four accounts, posted client invoices, and tracked receivables. Delivered complete month-end financial reports by the 5th business day using QuickBooks Online and Bill.com.
Results:
Provided full financial visibility, reduced errors, and cut client time spent on bookkeeping by 80%.
Streamline Bookkeeping and Financial Reporting for Real Estate Client
Challenge:
A real estate client managing two entities faced difficulties in handling daily financial entries, contractor payments, accounts receivable from owners, intercompany transactions, and timely month-end reconciliations.
Solution:
Established a structured bookkeeping process in QuickBooks Desktop (QBD) to centralize financial data. Entered vendor bills daily, processed contractor and subcontractor payments bi-monthly via checks and ACH and completed month-end bank/credit card reconciliations. Prepared project-level cost reports issued invoices for owner reimbursements, and managed intercompany billing. Collaboration was supported through BOX and SLACK.
Results:
Achieved accurate and timely financial reporting across entities, ensured prompt contractor payments, improved intercompany transparency, and strengthened efficiency in reconciliations and owner billing
Administrative Services
Case Studies
Administrative support for a Real Estate client
Challenge:
Real estate client was managing 40+ properties and wanted support to manage administrative and back-office tasks as they wanted to focus on their business.
Solution:
Dedicated accounting and administrative staff managed multiple vendors, accounts payable, monitoring mailboxes, responding or collaborating as per need through Monday.com. Identifying automation wherever possible to make the process efficient using. Publish financial reports to investors, insurance companies and banks.
Results:
Back office was managed independently resulting in operational efficiency which enabled the client to focus on his business.
Improve operational efficiency for a Property Management firm
Challenge:
Client was managing 200+ properties and needed a strong back-office administration to manage the operations efficiently.
Solution:
Deployed a team of Accounts specialist and Back-Office Administrative Support staff to manage vendor invoices, accounts payable, review payment activities, coordinate with vendors, handle vendor and bank statements, perform reconciliations, process utility invoices while tracking usage trends, and provide comprehensive administrative support for back-office operations.
Results:
Significant improvement in operational efficiency through high-quality deliverables, leading to a substantial reduction in time spent on documentation, accounts payable processing, and tenant communications.