Case Study: a premier physician-led medical group achieves RCM cost and labor optimization with Synergetics

Premier Physician-led Medical Group reduces cost-to-collect with Synergetics after a 35% claim volume surge

The client, a premier physician-led medical group, faced a significant financial challenge after an audit revealed a material write-down of net revenue due to inadequate and sub-scale Revenue Cycle Management (RCM) processes. This impaired collectability of accounts receivable. The vendor, Synergetics, was engaged to conduct an in-depth business analysis of the RCM operations to address these issues.

Synergetics implemented its business analysis recommendations to re-tool RCM functions from account creation to final resolution. This involved optimizing labor with a blended-shore model, enhancing vendor management, increasing automation, and improving RCM tool utilization. Despite a subsequent 35% increase in claim volume due to Covid-19, Synergetics helped the medical group achieve $0 million in annualized cost savings and a 0% reduction in cost-to-collect.