At Fusion Anesthesiology, we’re experts at coding clean claims, collecting every dime our anesthesiologists are owed by payers, and safely minimizing our client’s tax bills.
But the sad truth is we’re not very good salespeople. Oftentimes, after we make our pitch to an anesthesiology group, the response we get is: “Yeah, well, the last guys said they do pretty much the same thing and they charge half a point less. So we’re going with them.”
The problem is that it’s really easy to say that you’re going to do everything that we do for our clients. It’s much harder to actually do it. But our competitors will often say “Yep, we do that, just like they do, and we charge less.”
As anesthesiologists know all too well, it’s dispiriting to see one’s work treated as a commodity. We know it’s not. We know that because after forty years of providing anesthesiology billing, revenue cycle management, and full-service accounting to over 400 anesthesiologists – our turnover rate is essentially zero. Once we get a client, we essentially only lose them to retirement.
Why? Because when it comes to anesthesiology billing, in particular, cheaper can often cost anesthesiologists money.
Billing companies (including us) typically get paid a percentage of collected revenue. So if two companies collect the same amount (which theoretically they should, right?) then the company that charges you the smaller percentage will leave more for you to take home to your family (or just your bank account if you’re single).
Unfortunately, we don’t live in a fantasyland where payers happily pay the amount they actually owe. As it turns out, it’s relatively easy to get payers to pay 80-85% of what they owe. You really just need to turn in clean claims.
However, squeezing that last 5-15% is really hard.
- You have to compare every single line item with the relevant contracts.
- You have to know anesthesiology billing codes, regulations, and processes inside out to maximize claims while ensuring that they are 100% appropriate.
- You have to fight, dispute, and claw for the claims that are denied.
- You have to outlast difficult payers and keep resubmitting the paperwork.
Now the depressing math of physician billing is that the most profitable route for the anesthesiology billing companies is to take the easy way. To just collect the low-hanging fruit and move on. It costs more for the billing company to collect that last tranche of money than they will collect in increased revenue.
Eventually, clients are likely to get wise, conduct an audit and realize that they have been losing 5-15% of their potential revenues. However, if you’re a discount billing company, the most profitable route is to just live with the resulting churn. It’s just the cost of doing business.
Sales are cheaper than the hard work of collecting that final 5-15% of revenue.
Of course, for anesthesiologists, the math is reversed. They stand to gain a great deal if their billing companies fight for every last dime for them… and as a result are highly unlikely to ever switch billing providers when they find that company. That’s why we almost never lose a client.
It’s a good thing that we basically only lose clients to retirement– our sales skills aren’t so great. However, we ARE really good with numbers.
To prove it, we’d love to set up a no-obligation audit of your past six months of billing. See if our processes would have brought in more money for you. It takes very little of your time and could have a major impact on your take-home pay.
Remember, we only work with anesthesiologists and anesthesiologist practices.