NYX RCM Partners has truly become a trusted partner in our billing operations. Although our partnership spans a couple of years, we realized the true value of efficiency during the COVID pandemic when almost all of our internal services came to a standstill and we had little to no time to transition our staff to work remotely. This forced us to develop systems and processes for remote supervision and communication. While the whole process seemed formidable at start, NYX RCM was able to seamlessly integrate their workflow process with ours. There were a few loose ends that need to be tied, but the overall disruption in production and delivery was negligible.
We’ve always had hits and misses with internal hiring. Given that experienced staff get lured by bigger hospitals or practices, we had to focus on hiring new staff, train and hope to retain them. This is where NYX RCM plays an indispensable role where they offer experienced, often more qualified, professional staff at affordable rates. Additionally, we get guaranteed productivity with unmatched quality of work. This allowed us to focus on expanding our business and let NYX RCM handle our billing operations. Within a span of 6 months, they helped us reduce our over 90 commercial insurance AR from $4 million to less than $600K and cleared the denials backlog that was just over a year old. We’ve increased our commercial insurance collections by more than 28% since partnering with NYX RCM.
To sum it up, our relationship with NYX RCM has been built on trust, commitment, transparency, efficiency and reliability. We are extremely appreciative of all the support NYX RCM has been able to provide in helping us grow our business.
We had made the decision to move work offshore due to increase in overhead costs and challenges in finding and retaining the right talent. We evaluated various vendors over a span of 2 years and the board still remained unconvinced on two fronts – quality of work and HIPAA compliance.
We were pleasantly surprised at the high level of HIPAA compliance maintained by the personnel at NYX RCM. They walked us through the workflow process and SOC2/ISMS/HIPAA certification audit which helped clear any apprehension about information security. NYX RCM was able to successfully convince us in their ability to effectively handle our billing operations by leveraging their domain knowledge/expertise in RCM along with data security compliance.
It has been a year since we joined hands and the results are nothing short of spectacular. We’ve seen efficiencies increase across the board with a proportional increase in revenues. Our front-end rejections have seen a drastic drop since they took over. AR has been sliding down nicely, especially aging over 90 and 180. They also provide BI and analytics which gives a nice perspective into our operations and revenue trends.
Overall, we’ve seen optimization across the board in terms of efficiency and revenues, timely implementation of all our suggestions with transparent communication and incredible team performance.
We are a multi-specialty physician group experiencing increasing aged AR due to being short staffed, cash flow issues and a backlog situation with thousands of unworked claims.
NYX RCM helped identify improper configuration of several work queues. During the process, NYX RCM also identified and billed out several thousand claims that had not been billed over a long period of time due to inactivity and ineffective workflows in the pre-billing process.
NYX RCM’s efforts have resulted in more claims going out to payors resulting in increased collections. This resulted in a net revenue increase of over $500K over a recovery period of six months. We certainly appreciate the timely initiatives which not only improved our cash flow but also helped streamline our billing operations.
