NextGen® Revenue Cycle Management Services Adopted by Palmetto Retina Center
NextGen Healthcare, Inc. (Nasdaq: NXGN) has partnered with Palmetto Retina Center to implement its NextGen® Revenue Cycle Management (RCM) Services across six locations in South Carolina. This partnership aims to enhance financial strength by improving cash flow and reducing administrative burdens. With 69% of healthcare leaders reporting increased denials in 2021, Palmetto struggled with accounts receivable prior to adopting NextGen's RCM services. The new services have helped reduce the lag in payments and target revenue leakage, ultimately improving the organization's financial performance.
- Adoption of NextGen® RCM Services by Palmetto Retina Center enhances cash flow.
- Reduction in lag time between charges and payments improves financial operations.
- Real-time financial analytics aids in identifying areas of revenue leakage.
- Palmetto previously faced challenges with timely collection of accounts receivable.
NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, today announced that NextGen® Revenue Cycle Management (RCM) Services have been adopted by Palmetto Retina Center (Palmetto) for its six locations in South Carolina. Palmetto currently utilizes NextGen® Enterprise Practice Management (PM) and NextGen® Enterprise EHR. By adding NextGen® RCM Services, the organization taking full advantage of the integrated platform by surrounding it with expert managed services dedicated to improving cashflow while reducing administrative burden.
Timely reimbursement for medications and surgeries is key ingredient for a healthy retina practice. According to the Medical Group Management Association (MGMA), 69 percent of healthcare leaders report their organization’s denials have increased in 2021. Prior to using NextGen® RCM Services, Palmetto struggled with timely collection of accounts receivable (A/R), especially when it came to reimbursements for medications and retinal surgeries. After leveraging NextGen® RCM Services, Palmetto significantly reduced the lag between charges and payments, and was able to use real-time financial analytics to target areas that were contributing to revenue leakage.
“We are excited to expand our partnership with NextGen Healthcare to incorporate RCM services, which work seamlessly within our current workflow to provide an end-to-end solution for our team,” said David Gavin, chief executive officer for Palmetto Retina Center. “NextGen Healthcare has a strong track record of working with eye care practices and understanding the nuances of billing for our specialty.”
“We are proud to partner with Palmetto to meet the needs of the changing healthcare environment and improve the organization’s financial strength,” said John Beck, chief solutions officer for NextGen Healthcare. “As the market continues to evolve, we are seeing increased demand for this combination of well-integrated clinical and financial workflows, along with managed services that include considerable experience overseeing the most complex reimbursement scenarios.”
About NextGen® RCM Services
NextGen® RCM Services helps practices prevent denials, improve velocity of collections, increase net collections, reduce days in accounts receivable and enhance the patient experience. NextGen Healthcare’s RCM team serves approximately 6,000 providers across the U.S., managing more than 12 million claims annually and collecting more than
Click here to read a recent case study about how Palmetto Retina Center boosted its financial future with NextGen® RCM Services.
About Palmetto Retina Center
At Palmetto Retina Center, some the best eye physicians in South Carolina offer the most comprehensive and state of the art care in the treatment of vitreous and retinal diseases in South Carolina. Our practice is limited to patients with retinal diseases and our efforts are concentrated on providing our patients with the best quality care in a compassionate, caring environment. To learn more, please visit http://www.palmettoretina.com/.
About NextGen Healthcare, Inc.
NextGen Healthcare, Inc. (Nasdaq: NXGN) is a leading provider of ambulatory-focused technology solutions. We are empowering the transformation of ambulatory care—partnering with medical, behavioral and dental providers in their journey to value-based care to make healthcare better for everyone. We go beyond EHR and PM. Our integrated solutions help increase clinical productivity, enrich the patient experience, and ensure healthy financial outcomes. We believe in better. Learn more at nextgen.com, and follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.
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