Case Study: How Dr. Snowberger Took Control of His Cash Flow
Published by Madhu Singh on
Wed, Sep 29, 2021 @ 11:09 AM
Scott Snowberger, OD, is a partner with Stone Hill Optical in Pflugerville, Texas. For any small or growing eyecare practice, managing cash flow can be a challenging obstacle to overcome. For years, Dr. Snowberger's practice went the traditional route in terms of managing their insurance claims, and ultimately, their practice’s revenue flow.
To emphasize, Dr. Snowberger states, "when I say the traditional route, I mean we had two staff members dedicated to pulling insurance authorizations, submitting claims, and posting EOBs."
As their business continued to grow, they struggled with the stability and scalability of their claim filing processes. As a result, they started falling several months behind posting EOBs to their system. Keep reading to see what Dr. Snowberger did to solve his cash flow issues:
Why Outsourcing Billing Was Profitable for His Practice
On top of everything, employee turnover was causing them to fall even farther behind. These two obstacles led to a cash flow problem because they weren’t transferring patient responsibility balances to the patient in order to send out patient statements.
Because they were falling behind, he found himself, an OD, staying late after closing on several occasions submitting claims in order to keep up until they were able to get a new employee hired and trained on their processes. This disruptive cycle was not conducive to practice growth and he knew something had to change.
Almost two years into outsourcing our claim filing and we’ve seen several benefits across the board:
Overall, our revenue cycle has sped up and we’re making more money because we are writing less off.
We never miss a deadline for timely filing.
We no longer worry if an employee will write off a claim because of its complexity.
We can send patient statements weeks or months sooner, making it easier to collect patient responsibility.
We’ve reduced workflow tasks for our own employees.