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Today: 7/20/2024 11:45:04 AM PT
TLC Consulting
The Road to Buried Treasure
Success Story One
While it is difficult to quantify many of the "value-added" benefits TLC provides to its clients. It is easy to see what contributions are made directly to the bottom line.One such story involves a facility where most of their managed care dollars due from the payors for implants and prosthetics was being missed completely. Phase I of the project involved retroactively billing and collecting accounts for the previous two years. Phase II of the project setup an ongoing download of zero balance accounts to be reviewed and collected. The regular downloads help to eliminate issues related to timely rebilling and collection.  Establishing these processes has resulted in over  $1.5 million of "found" money for the facility. Additionally,  a mechanism for process improvement and feedback to the business office and managed care has resulted in signficantly less opportunities on the back-end for inappropriate reimbursement.
Success Story Two
Much like our other clients, this client came to us with the need for a two year retrospective review project. This large facility also has two smaller facilities that would be part of the review process. Since the inception of the project, we have added a smaller specialty hospital and continued to audit zero balance accounts for the other facilities on a quarterly basis.  To-date, we have collected over $3.5 million in "found" money for these facilities. We have also provided them with essential feedback for process improvement which has lessened the amount of dollars we are finding but improved the amount of money the business office is able to collect sooner versus later.