Midwestern Anesthesia Group

This case study examines Coronis Health’s collaborative effort with a Midwestern anesthesia group to optimize operational efficiency, strengthen revenue collection and achieve a substantial subsidy increase.

The group faced several challenges impacting their financial performance:

Claim Correction Bottleneck: Manual claim correction due to missing documentation was delaying submissions and hindering revenue collection.

Pain Practice Revenue Optimization: Their pain practice segment wasn’t reaching its full revenue potential due to unclear documentation and lack of dedicated reporting.

Inadequate Hospital Subsidy: The existing subsidy fell short of supporting market based compensation packages and needed renegotiation.

Coronis Health implemented a comprehensive approach:

On-Site Collaboration: Held a full-day working meeting with the group to analyze billing, coding and operational processes.

Improved Documentation Access: Enabled electronic access to operative notes, streamlining claim correction for the group.

Pain Practice Optimization: Conducted a review of the pain practice, identified areas for improvement, and provided educational resources.

Financial Analysis & Negotiation Support: Analyzed financial statements, quantified provider attrition, and provided market data to support subsidy negotiations.

Coronis Health’s intervention yielded significant benefits for the group:

Claim Correction Efficiency: Slashed claim correction backlog by 50%, accelerating claim submissions and bolstering cash flow.

Revenue Surge: Boosted monthly pain practice revenue by $20,000, yielding an annual uptick of $240,000.

Room Utilization Recovery: Reclaimed nearly $1 million in room utilization reconciliation errors, enhancing financial integrity.

Substantial Subsidy Win: Negotiated a 30% annual subsidy boost, netting approximately $6 million.