Dr. Elizabeth Beautyman, practicing internal medicine and hematology in New York City for more than 25 years, began using Hello Health Revenue Cycle Management services in 2014.
$28,000, Patient Subscriptions
$42,000, Increased Collections
$7,000 Savings in billing costs
Making More Money
A solo practitioner, Dr. Beautyman felt a strong desire to improve communication with her patients, provide better patient access to medical records like visit notes, lab results and make it easier for patients to request prescription refills. Hello Health's subscription patient portal, PortalConnect, made all of that possible for Dr. Beautyman and her patients, and provided a new source of revenue for the practice.
Dr. Beautyman's 800 PortalConnect subscribers make it possible for her to net more than $28,000 in annual recurring revenue after profit sharing.
Saving More Money
When Hello Health’s Revenue Cycle Management team took over Dr. Beautyman’s billing, they noted that small errors and discrepancies in her coding were causing delays or denials of about $3,500 in insurance payments each month. With Hello Health chasing down every dime, Dr. Beautyman now bills $42,000 more annually than she did in previous years, and is paid what she’s owed.
And because her billing rate is now 4.5%, reduced from 8.5%, she’s saving $7,000 a year while collecting more than she ever has.
Meanwhile, her monthly Accounts Receivables have been reduced to a negligible $600.
Because of Hello Health, Dr. Beautyman increased her practice’s profits by $77,000 in 2014.