Riverchase Dermatology is an 80-physician group based in Fort Lauderdale, Florida. One of the largest single specialty dermatology groups in the nation, it's a market-leading physician group with $80 million in revenue that provides general dermatology, cosmetic and Moh's surgery services.
Riverchase engaged OneAccord to conduct a three-day onsite review to maximize the operational effectiveness of the organization's revenue cycle process.
Given their plans to grow further and become a regional provider encompassing several states, Riverchase Dermatology wanted OneAccord to conduct a review of their revenue cycle processes. The goal of the onsite assessment focused on identifying shortcomings with the current processes and software systems that could potentially curtail growth.
Despite operating metrics that rank in the 95th percentile compared to national medical group performance parameters, OneAccord's engagement provided approximately a dozen recommendations to enhance cashflow, restructure the organization and update key processes to more efficiently and effectively provide this critical operating function for the organization.
Prior to our arrival, we requested and analyzed data around key statistics, including charges, payments and adjustment activity, accounts receivable, collection rates, denials and more.
We interviewed key members of the staff to gain perspective on revenue cycle operations, details on clinic staffing and day-to-day office processes. These interviews permitted us to develop an understanding of the company's organization, staffing and workflows.
After gathering and analyzing the data, we provided recommendations to the organization's leadership to eliminate problems as well as enhance the effective processes currently in place.
The project resulted in a several recommendations that focused on cashflow enhancement and process restructuring opportunities that would enable the business to leverage its current workforce and scale its operations.