CASE STUDY

Cleaned Up 55,000 Invoices from Backlog Inventory and $15m in Outstanding Credit Balance at Major Research Hospital

Infinx partnered with a major research hospital in California to clean up its backlog inventory of 55,000 credit balance invoices within 15 months and transition the hospital’s system from GE Centricity to EPIC. The project represented a significant challenge for any partner. The client was delighted with the outcome and subsequently hired Infinx to clean up the nearly $15 million in outstanding Accounts Receivable. This amounted to roughly 30,000+ outstanding claims with overdue dates ranging from 60 to 365 days.

The First Challenge – Credit Balance Invoices

The hospital approached Infinx with a massive backlog of 55,000 credit balance invoices. The purpose of the project was to clean up and eliminate the backlog from their balance sheet. The project included invoices from every specialty, making it even more complicated. Infinx evaluated the project and based on the volume and nature of the invoices, proposed a detailed plan to solve the problem within a 15- to 17-month timeframe. A team of six to nine credit balance specialists was deployed to work with the client for the duration of the project.

The scope of the work included analyzing credit accounts, identifying exact reason for credits, posting transactions to clean incorrect adjustments and write-offs, identifying correct refunds, and creating refund packets. The team cleaned the entire backlog in 15 months.

CREDIT BALANCE RESOLVED = LEGAL PEACE OF MIND

  • Over 55,000 credit balance invoices resolved
  • $15 million total amount
  • 15 months turnaround time
  • 6-9 credit balance specialists

The Second Challenge – Transition to EPIC and Outstanding Payment Postings

As the hospital transitioned from GE Centricity to EPIC, the company asked Infinx to support the massive payment posting backlog. The company had over 300,000 payments that needed to be posted. Payment posting errors had created a wide range of significant revenue cycle management issues. These included understated accounts receivables, increased denials, false credits, and inaccurate patient statements. The backlog had skewed the organization’s entire balance sheet.

To address the challenge, Infinx formed a team to evaluate the problem and ultimate manage and resolve the ongoing payment posting process. All of this had to be completed during the transition from GE Centricity to EPIC.

  • The team manually reviewed a staggering number of Electronic Remittance Advice (ERA) files to find and calculate the total payments for those accounts that belonged to EPIC and those that belonged to GE Centricity
  • Infinx provided 24/7 staffing workforce and complete support to ensure every payment was appropriately posted within both systems.
  • The posting team worked an average of 10 hours a day, plus weekends to clean up the backlog and get current within the target six months

A Third On-going Challenge – Outstanding Accounts Receivables

With two major projects completed, the hospital could see the value of a partner like Infinx. The company has successfully resolved 55,000 credit balance invoices in 15 months, and 300,000 late payment postings in 6 months. Management was thrilled with the outcome, and the employees were delighted to stop working overtime and weekends.

The next obvious step was to take on a new challenge. The hospital hired Infinx to address their aging accounts receivables. The project is currently underway, and the company expects to have a successful completion.

PAYMENT POSTINGS SOLVED = FINANCIAL PEACE OF MIND

  • 300,000 payments postings in Centricity/EPIC
  • $60 million total amount
  • 6 months turnaround time
  • 10 payment posting specialists

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