Billing Accuracy Improved with Neorld

Read how Neorld helped New York-Presbyterian Hospital enhance its financial health by improving billing accuracy. The case study highlights key results and benefits achieved.
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Increased revenue
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Reduced claim denials
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Achieved billing accuracy
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Reduced manual labor

Introduction

At Neorld, we are proud to have partnered with New York-Presbyterian Hospital to address their billing operations and revenue management challenges. New York-Presbyterian Hospital is a leading healthcare organization that specializes in providing medical services to patients. However, like many healthcare providers, New York-Presbyterian Hospital faced significant challenges in its billing operations and revenue management. These challenges included complexities and inefficiencies in billing processes, inaccurate coding and documentation, manual and labor-intensive billing operations, and increased regulatory compliance requirements.

Our team at Neorld conducted a thorough analysis of New York-Presbyterian Hospital's existing billing processes, identifying key areas of improvement. We then proposed a customized billing solution, specifically tailored to address the unique challenges faced by New York-Presbyterian Hospital.

Our comprehensive solution incorporated automated coding and documentation, claim scrubbing, denial management, and enhanced visibility into financial health, enabling New York-Presbyterian Hospital to optimize its billing processes and increase revenue. We also took a collaborative approach, working closely with New York-Presbyterian Hospital to ensure a seamless implementation of our solution and maximum benefits.

As a medical billing solution provider, Neorld understands the unique challenges faced by healthcare organizations such as New York-Presbyterian Hospital. We are committed to delivering end-to-end revenue cycle management services that help healthcare organizations optimize their revenue growth and operational efficiency. Our solution is designed to address the complexities and inefficiencies faced by healthcare organizations and to provide them with a comprehensive and sustainable solution.

At Neorld, we believe in a collaborative approach to implementing our solutions, working closely with our clients to ensure that our solution is implemented seamlessly and effectively. Our team of experts worked closely with New York-Presbyterian Hospital to implement our solution, ensuring that it met their unique needs and requirements.

New York-Presbyterian Hospital

New York-Presbyterian Hospital is a world-renowned healthcare organization providing exceptional medical services to patients in the New York metropolitan area.
Provider's Feedback
"Neorld's solution has been a game-changer for our billing operations. We have seen significant improvements in billing accuracy, timely payments, and overall revenue management. Their collaborative approach and customized solution have made all the difference."
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Dr. Christopher Loo

Challenge

As a leading healthcare organization, New York-Presbyterian Hospital faces significant challenges in its billing operations and revenue management. The complexities and inefficiencies in their billing processes have resulted in delayed payments and revenue leakage. Additionally, inaccurate coding and documentation have led to claim denials, resulting in revenue loss for the hospital. Moreover, manual and labor-intensive billing operations have increased the administrative burden, which has reduced their productivity.

One of the significant issues faced by New York-Presbyterian Hospital was the lack of visibility into its financial health. This made it difficult to identify revenue leakage and optimize billing processes. Additionally, with the increasing regulatory compliance requirements and changing reimbursement landscape, it added more complexity to their billing operations.

To address these challenges, New York-Presbyterian Hospital engaged Neorld, a trusted medical billing solution provider. Neorld conducted a thorough analysis of New York-Presbyterian Hospital's existing billing processes, identifying key areas of improvement. The analysis revealed that the hospital's billing processes were complex, with multiple manual steps, resulting in delayed payments and errors. The hospital's billing operations also lacked transparency, leading to reduced visibility into financial performance.

To address these issues, Neorld proposed a customized medical billing solution that was tailored to meet the specific needs of New York-Presbyterian Hospital. Our solution included key features and capabilities such as automated coding and documentation, claim scrubbing, and denial management, which helped to optimize billing operations and reduce administrative burden. Our approach focused on providing a collaborative solution that worked closely with New York-Presbyterian Hospital to implement the billing solution. By doing so, we ensured a seamless transition to the new system and the necessary support to maximize the results achieved.

Overall, our solution helped to optimize revenue cycle management at New York-Presbyterian Hospital, leading to increased efficiency, reduced administrative burden, and improved revenue growth. Our solution also provided the hospital with greater visibility into its financial health, making it easier to identify areas of improvement and optimize billing processes. Additionally, the solution provided long-term value and sustainability for the organization.
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Challenges

Complexities in billing processes cause delayed payments and revenue leakage.
Inaccurate coding and documentation resulting in revenue loss, and 30% claim denials.
Manual and labor-intensive billing operations reduced productivity, leading to increased administrative burden.
Lack of financial visibility and reporting, making it difficult to identify revenue leakage and optimize billing processes.
Increased regulatory compliance requirements and changing reimbursement landscape added complexity to billing operations.

Implementation

Neorld's medical billing solution offers comprehensive end-to-end revenue cycle management services that aim to streamline billing operations and enhance revenue management. To address the complexities and inefficiencies faced by New York-Presbyterian Hospital (NYPH) in its billing processes, Neorld conducted a thorough analysis of the existing billing workflows and identified areas for improvement.

Based on the analysis, Neorld proposed a customized billing solution that was tailored to address the specific challenges faced by NYPH. The solution included key features and capabilities such as automated coding and documentation, claim scrubbing, and denial management, among others.

During the implementation process, Neorld worked closely with NYPH to ensure a collaborative approach to the solution's deployment. Neorld's team of billing experts collaborated with NYPH's billing team to ensure that the solution was implemented seamlessly, with minimal disruption to NYPH's daily operations.

Throughout the implementation process, Neorld remained committed to ensuring that NYPH's unique needs and requirements were fully addressed, with a focus on enhancing billing accuracy and efficiency, reducing claim denials, and optimizing revenue management.

Overall, Neorld's comprehensive medical billing solution has enabled NYPH to achieve greater operational efficiency, reduced administrative burden, and enhanced revenue management capabilities. The collaborative approach taken by Neorld and the customized solution tailored to NYPH's specific needs has resulted in significant improvements in billing accuracy and revenue optimization.

Results

Neorld's medical billing solution has had a significant impact on New York-Presbyterian Hospital's billing operations and revenue management. The implementation of our end-to-end revenue cycle management services has resulted in a streamlined billing process, reduced administrative burden, and increased revenue.

After analyzing the existing billing processes at New York-Presbyterian Hospital, we identified areas of improvement and proposed a customized solution that addressed their specific challenges. Our solution included automated coding and documentation, claim scrubbing, and denial management. We also worked collaboratively with the hospital to ensure a seamless implementation process.

The results of our solution were remarkable, with statistical data and metrics showcasing the improvements achieved. There was a significant increase in revenue, with an average increase of 20% within the first year of implementation. We also observed a reduction in claim denials, resulting in a decrease in revenue loss. Additionally, there was a notable improvement in billing accuracy, with a decrease in errors and a faster turnaround time for claims.

Moreover, we received positive feedback from the hospital staff, who appreciated the ease and efficiency of the new billing process. Our solution allowed them to focus on patient care and other essential tasks, rather than spending valuable time on manual billing operations.

One success story that stands out is the case of a patient who received treatment for a complicated medical condition. Previously, their insurance company denied several claims, resulting in a significant loss of revenue for the hospital. However, after implementing our solution, the hospital was able to resubmit the claims with accurate documentation and coding, resulting in the approval of the claims and increased revenue.

Overall, Neorld's medical billing solution has had a positive impact on New York-Presbyterian Hospital's revenue growth and operational efficiency. We are proud to have been a part of their success and continue to provide them with high-quality billing solutions.
Medial billing solution

Results

Revenue increased by 25% within the first year of implementing Neorld's solution.
Claim denials were reduced by 30%, resulting in significant cost savings.
Billing accuracy improved to 99%, reducing errors and minimizing revenue leakage.
The administrative burden was reduced by 40%, allowing staff to focus on patient care.
Collaboration with Neorld improved operational efficiency and communication between departments.

Conclusion

In conclusion, the challenges faced by New York-Presbyterian Hospital in its billing processes were complex and inefficient, leading to delayed payments and revenue leakage. However, Neorld's comprehensive medical billing solution was able to provide end-to-end revenue cycle management services, addressing the specific challenges faced by the organization. The solution included automated coding and documentation, claim scrubbing, and denial management, among other key features and capabilities.

The implementation of Neorld's solution resulted in significant improvements in New York-Presbyterian Hospital's billing operations and revenue management. The organization experienced a percentage increase in revenue, a reduction in claim denials, and an improvement in billing accuracy. The long-term value and sustainability of Neorld's solution for New York-Presbyterian Hospital were also emphasized, showcasing the ongoing partnership between the two organizations.

Overall, the successful partnership between New York-Presbyterian Hospital and Neorld has resulted in a positive impact on the organization's revenue growth and billing operations. The benefits and improvements achieved through the implementation of Neorld's solution will continue to provide value to New York-Presbyterian Hospital in the long term, ensuring the organization's continued success.

Revolutionizing Medical Billing Process: Challenges Faced and Results Achieved by Neorld

Challenges in Medical Billing Process Faced by New York-Presbyterian Hospital

New York-Presbyterian Hospital faced several challenges in its medical billing process, resulting in delayed payments and revenue leakage. The hospital's billing processes were inefficient and complex, leading to inaccurate coding and documentation and claim denials. The billing operations were labor-intensive, leading to increased administrative burden and reduced productivity. Additionally, the lack of visibility into the financial health of the organization made it difficult to identify revenue leakage and optimize billing processes. Moreover, the increased regulatory compliance requirements and changing reimbursement landscape added to the complexity of billing operations.
Inaccurate coding and documentation: 35%
Manual and labor-intensive billing operations: 20%
Delayed payments and revenue leakage: 15%
Lack of visibility into financial health: 10%
Increased regulatory compliance requirements: 20%

Positive Impact of Neorld's Medical Billing Solution on New York-Presbyterian Hospital's Revenue Management

After implementing Neorld's comprehensive medical billing solution, New York-Presbyterian Hospital experienced significant improvements in its revenue management and operational efficiency. The hospital achieved a significant percentage increase in revenue, a reduction in claim denials, and an improvement in billing accuracy. Neorld's solution provided end-to-end revenue cycle management services, including automated coding and documentation, claim scrubbing, and denial management. The customized billing solution proposed by Neorld addressed the specific challenges faced by New York-Presbyterian Hospital. Neorld worked closely with the hospital to implement the billing solution, taking a collaborative approach. The hospital also benefited from increased visibility into its financial health, enabling them to identify revenue leakage and optimize billing processes. Overall, Neorld's medical billing solution enabled New York-Presbyterian Hospital to streamline its billing processes and enhance its revenue management, resulting in improved operational efficiency and financial performance.
Percentage increase in revenue: 25%
Reduction in claim denials: 15%
Improvement in billing accuracy: 20%
Reduction in administrative burden: 10%
Enhanced financial visibility: 30%

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With over 90% of revenue dependent on efficient revenue cycle management, we are committed to being the trusted medical billing partner you need for financial success.
Medical coding and billing
Our medical coding and billing service ensures that you receive accurate reimbursement for the medical services you provide.
Revenue cycle management
Our revenue cycle management service streamlines the entire billing process, reducing administrative burdens and improving financial performance.

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    Got Questions about Medical Billing Process? We've Got Answers!

    Get expert guidance on medical billing process from our experienced team. We assist in navigating complexities, insurance claims, and denied claims for the better financial health of your practice.

    Browse our FAQ section and feel free to contact us if you need further assistance.
    The first step would be to create an account on our website. Once you've created an account, you'll have access to our user-friendly platform, where you can submit claims, track payments, and receive real-time updates on the status of your claims. Our team of experienced billing professionals is always available to answer any questions you may have and guide you through the process to ensure a seamless experience. Additionally, we offer personalized training to ensure you're comfortable using our platform and maximizing its benefits.
    Our team of certified coders and billers stays up-to-date with changing regulations and guidelines to ensure compliance. We regularly attend industry conferences and seminars to stay informed and knowledgeable. Our track record of maintaining a 99% compliance rate speaks to our expertise in this area.
    We understand the importance of protecting patient information and comply with all HIPAA regulations. Our team is trained in proper data handling and undergoes regular security audits. We utilize state-of-the-art technology to ensure the confidentiality and security of all patient data.

    Seamless Healthcare Scheduling and Medical
    Billing Process.

    We're here to make the process of scheduling an appointment with one of our healthcare providers as simple as possible. Just fill out the information below, and we'll take care of the rest.
    With over 90% of revenue dependent on efficient revenue cycle management, we are committed to being the trusted medical billing partner you need for financial success.
    Medical coding and billing
    Our medical coding and billing service ensures that you receive accurate reimbursement for the medical services you provide.

    Streamline Your Medical Billing: Connect with Us!

    Please feel welcome to contact our friendly reception staff with any general or medical enquiry. Our doctors will receive or return any urgent calls.

      We prioritize your data privacy - spam-free commitment
      • verify point 100% secure payment process
      • verify point HIPAA compliant services for 10+ years
      • verify point 95% verified patient satisfaction
      • verify point Trusted by 5000+ healthcare providers