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Scio Management Solutions launches new practice improvement strategy program Revenue Acceleration Framework (RevAF). RevAF uses Scio Management Solutions proprietary tools to analyze your practice’s coding, documentation, utilization and each revenue cycle function to identify any inefficiencies or discrepancies. Once identified, Scio will work with your practice to correct previous errors and engage with corresponding staff to eliminate errors from reoccurring.
Scio has onsite and remote options available with most of the programs having little to no upfront costs as Scio generates most of their fees based on successful recovery or implementation of services to the practice. Scio has been able to reduce practice cost of collections by an average of 43% while increasing top line revenue by an average of 4.2%.
SCIO Management Solutions is a revenue cycle management and consulting firm focused on cancer disease related specialties with extensive knowledge in medical and radiation oncology, diagnostics, and various surgical specialties. We understand the complexity of buy-and-bill medical specialties and provide expertise to improve revenue recovery.
SCIO’s Consulting and Auditing Services not only identify the gaps in a practice’s revenue cycle, but SCIO will correct the errors and refile the corrected claims on behalf of your practice. Our Revenue Recovery Audits are contingency based, so there are no upfront fees and we only collect a percentage of the recovered revenue recognized in the audit that your practice wasn’t aware was missing.
Need more information? Have questions? Let us put our revenue cycle management expertise to work for your organization.
On-site Operational Assessments
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Evaluate all areas of clinic
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Review key performance indicators
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Review patient flow check-in to check-out
Coding and Billing Capture Audits
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E&M
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Review documentation of infusion, RT, labs, surgical procedures, etc.
Missed Charge and Drug Audits
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Analytic reports comparing dispensed drugs to billed and paid charges
Posted Payment Audits
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Underpayment review
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Improper adjustments
A/R Clean Up / Close Out
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Work aged A/R
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Work write off reports
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Work down A/R from legacy billing software
SCIO manages all RCM functions
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Implementation of Practice Analyzer and Revenue Recovery findings
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24-hour turnaround times for charges and payments
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98% first pass claim rate
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34% average reduction in days outstanding
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4.2% average increase to topline revenue
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43% average cost savings to practice