A dominant player in the physician-billing arena.

Background

With multiple offices across the United States and divided by specialty (Pathology, Radiology and Academics), each division receives both electronic and manual office/hospital billing information. They code the associated claims and submit them to insurers for reimbursement. They constantly face price and market pressure from small but fierce “local” competitors.

The Problem

The Client’s growth, traditionally had been through aggressive acquisition of a number of “mom and pop” billing companies in various parts of the country. Accordingly, these acquisitions often included absorbing obsolete/outdated billing systems, owner based management “philosophies” and costly “non-value added” client commitments. As a result of the rapid growth, a lack of direct assimilation and a general “hands-off” managerial style; they experienced rising administrative costs and customer service problems.

This resulted in a decline in share price and general market anxiety about the company’s performance.

Scope and Assignment

We began by working with one Regional Service Center (RSC) to develop “a model office.” This included detailed process mapping of all “customer facing” processes, a Management Operating System (MOS), including a productivity tracking system that would focus on operational delivery of strategic goals. Using a unique “compare & contrast” process, Synergetics developed “best practice” models for each division and delivered a leadership development training program to support this method of managing.

The Results

The model was rolled out in twelve service centers, with costs savings in excess of 4 million dollars at the end of the project and with second year annualized projections of more than 6 million. The stock value appreciated 3-4X in the year following implementation.

Synergetics Installations Worldwide, Inc.

75 Congress Street, Suite 201 • Franklin Block Building • Portsmouth, New Hampshire 03801 • (603) 433-8940