Revenue Cycle Operations at NeurAbilities
The Value Creation team partnered with the company to produce operational improvements within their revenue cycle processes.
The Challenge
NeurAbilities is the premier provider of neurological, behavioral and neurodevelopmental services in the Mid-Atlantic.
The majority of revenue at NeurAbilities comes through third-party payers (both commercial and government). As all healthcare providers in a similar position know, these relationships can be complex and difficult to navigate, leading to potential revenue being left on the table. Capturing this lost income was particularly important to the company because the profitability of existing clinics directly influenced the pace at which they could open new sites.
Operational excellence in revenue cycle was a clear opportunity for improvement that would go straight to the bottom line and enable the business to scale.
The Solution
The Value Creation Team collaborated with NeurAbilities to implement a series of best practices from across the Council ecosystem, including:
- Data: Cleaned data within EHR systems to utilize EHR’s reporting tools, and fixed uncovered EMR coding/billing issues
- Training: Cross-trained team on skills to reduce the risk of falling behind when someone is unavailable
- Process: Introduced monthly team worklists to drive prioritization and improve outstanding A/R
- Reporting: Revamped A/R and Collections reporting to measure team/process effectiveness
- Mentoring: Began weekly 1:1’s with the team to bolster prioritization, troubleshooting, and accountability efforts
The Results
Increase in Cash Collections
(Oct ‘21 to Jan ‘22)
Reductio in Unprocessed Claims
(Oct ‘21 to Jan ‘22)
Reduction in Accounts Receivable
(Oct ‘21 to Jan ‘22)
CEO
NeurAbilities
From board members to interns and the value creation team, Council connects us with the resources we need to succeed.”
The information presented herein reflects the experience of a specific client and may not be representative of all clients. This case study is for illustrative purposes only. Past results do not guarantee future performance. Quotes are from current or former Council Capital portfolio companies; no one was compensated for such testimonials, and there are no material conflicts of interest.
