September 12, 2014|Categories: Medical Billing and Payers
At first glance, you might think of Midlands Orthopaedics as a typical orthopedic practice.
They provide comprehensive care across three locations, delivered by 14 fellowship-trained physicians.
The practice has about 29,000 unique patient visits every year, from a diverse population in the Columbia, SC area.
Now, look closer.
Midlands has led the orthopedic industry by bringing advanced surgeries like hip resurfacing and joint replacement to an outpatient setting.
“I don’t know anywhere in the world where hip resurfacing as a subspecialty operation has been done yet as an outpatient surgery,” says Dr. Thomas Gross, Midlands’ pioneer in the hip resurfacing subspecialty. “We’re breaking new ground in doing that. But it’s not like a sudden change. We’ve been working towards this for seven or eight years.”
One reason Midlands has been able to make such strides in care (as it will tell you), is the time-saving services of athenahealth, and the financial advances the practice has been able to make via athenahealth's cloud-based medical billing software and services.
“We get more done. We get paid faster and we get paid more. Our physicians have the time to pursue ongoing training to employ better techniques that allow us to move care from a hospital setting to our outpatient surgery center,” says AnnMargaret McCraw , Midlands’ CEO.
McGraw is referring to revenue improvements, including a 34.9% reduction in days in accounts receivable (DAR), from an average of 60 days to just 27 days, and a 53% increase in collections.1
Hear more about Midlands, and how medical billing has contributed to helping it becoming one of the most innovative orthopedic practices in the country.
1. Our clients see an average 6% increase in collections and 32% decrease in days in accounts receivable, based on a weighted average for athenahealth clients with valid pre-athenahealth benchmark data that had their 15-month anniversary with athenahealth between January 1, 2010, and October 31, 2013.↩