Los Angeles County Cardiovascular Practice Experiences Revenue Growth

///Los Angeles County Cardiovascular Practice Experiences Revenue Growth

Los Angeles County Cardiovascular Practice Experiences Revenue Growth

San Diego, Calif., February 19th, 2015 – October 2014 marked the first year anniversary since Cardiovascular Consultants Medical Group (CCMG) entered into an agreement with CHMB for its market leading revenue cycle management service (RCM) offering. Dedicated to compassionate, quality care since 1958, Cardiovascular Consultants Medical Group has established itself as one of the premier cardiovascular care physician groups on the West Coast with four locations to serve patients throughout Los Angeles County. CCMG initiated its relationship with CHMB through its Professional Services offering as the group adopted EHR in 2011. Despite the declining reimbursement from their primary payer, Medicare and changes as a result of the Affordable Care Act, CHMB in a collective effort with CCMG have recognized decreasing costs.

 

CCMG initially engaged with CHMB in hopes of reducing costs related to billing and collections. They recognized that with the changes in ICD-10 and payer reform, there had to be a linear relationship between their costs and their revenue; while their in-house billing team costs remained the same despite declining reimbursements. CCMG relies on CHMB’s proprietary software, Curve Analytics to provide visibility into areas of improvement such as open balances; identifying the top CPT codes and payers with open balances. Each month, CCMG and CHMB leadership meet to review their financials beyond typical AR report findings. CHMB provides insight into areas such as the place of service, and its impact on the AR, especially for cardiologists who serve both hospital and office-based patients. CHMB’s proven subject matter expertise and competency, along with their client-focused approach was key in the decision to expand their partnership with CHMB.

 

“Our physicians were impressed with the knowledge and service experienced during the EHR implementation project in 2011 with CHMB,” stated Dr. John Tsakonas. “There was a learning curve in implementation with complex and multiple insurers and providers, but this was overcome with close partnership between our group and CHMB. We knew CHMB provided a broad range of RCM services, and were so competent in their skills, processes and high utilization of technology, we wanted to build our on-going partnership. In addition to billing and collecting, CHMB has been invaluable in helping us achieve and attest for Meaningful Use and PQRS reporting, as well as preparing us for the upcoming ICD 10 conversion. CHMB displays a culture of partnership and a service ethic that we found to be in close alignment with CCMG’s.”

 

“We are pleased to expand our partnership with CCMG,” stated Bob Svendsen, CHMB Chief Executive. “They are a premier cardiovascular provider and their work with several hospitals in the community was a primary reason they chose to add our RCM Services offering to their practice. CHMB provides a service and technology platform to support independent physician practices of all specialties as they partner and participate with hospitals in developing ACO’s and new models for healthcare delivery and patient care. Knowing that CHMB is managing the technology and financial needs of their practice, CCMG physicians can focus their efforts in collaboration with the hospitals they support on delivering outstanding patient care.

 

 

About CHMB Inc.

CHMB works with providers and health systems nationally to successfully manage the revenue cycle and to optimize payment for services provided. Today, more than 4,000 physicians encompassing 45 different medical specialties rely on CHMB for their experience in delivering proven solutions to improve practice profitability and optimize healthcare technology investments. www.chmbinc.com

By | 2017-02-23T21:39:45+00:00 February 19th, 2015|Press Release Archive, Press Releases|0 Comments