Benedikt Brueckle, CEO, CompuGroup Medical US
The administrative burden of managing a medical practice consumes the valuable time of healthcare providers. Billing and coding, an intricate part of any medical practice, poses significant challenges, especially when managing it in-house, due to increasing legal burdens, declining reimbursements, and implementation of the ICD-10 coding system. Currently, healthcare professionals are outsourcing medical billing and coding services to cut costs and ensure effective revenue management. With a comprehensive portfolio of cutting-edge IT solutions for the healthcare industry, CompuGroup Medical US (CGM US) provides practices with a convenient and cost-effective billing and coding solution. CGM US offers the entire range of e-health solutions from electronic health records to innovative practice management solutions.
“We are committed to a higher quality approach to provide better solutions,” states Benedikt Brueckle, CEO of CGM US. While many medical billing companies are limited to submitting charges for insurance, CGM US follows up on claims to provide the best reimbursement rates in the market. CGM US has the advantage of utilizing its proprietary billing and coding solution, which is constantly enhanced through the feedback from clients. The company also maintains its own clearing-house to manage and accelerate claims acceptance, and employs certified coders that are specialty-focused to streamline the billing process and increase revenue. Further, CGM US relies on a domestic workforce rather than off shoring to ensure the quality of service.
Prior to billing, the existing accounts receivables (AR) are analyzed and the reconciliation process for AR is initiated. CGM US then leverages its billing and coding team to ensure compliance and provides real-time visibility into collections through its solutions. The company also handles denials, appeals, resubmissions, and secondary submissions to payers.
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Furthermore, CGM US employs state-of-the-art technology in its data centers to ensure data security, with IT teams monitoring the systems 24/7. The company has recently moved several of its data centers to a newly constructed center in Phoenix, AZ near its headquarters.
Solving a myriad of challenges for clients, CGM US provides actionable reporting along with ongoing coaching and support to enable practices to generate more revenue. “We view our clients as partners since increasing their revenue corresponds to our success,” remarks Brandon Franklin, VP of revenue cycle management at CGM US. Engagement with potential clients begins with an analysis of business operations including collection details, documentation, relative value unit sequencing, current fee schedules, and contract rate comparisons with other players in the market. This process helps identify gaps in business operations that can be resolved to increase the bottom-line.
Brandon narrated an incident where one of his clients (a large orthopedic practice based in California) was facing a financial crisis and was on the verge of shutting down. The client had requested to cancel their software subscription with CGM US, but Brandon and his team performed an analysis that led to the discovery that reimbursement rates could be higher than originally expected if their process were to change. The analysis determined that the reason behind such inefficiency was the client’s internal billing and coding team. By outsourcing billing and coding to CGM US, the client was then able to increase its savings and revenue by 20 percent, ultimately facilitating a sustainable practice.
CGM US plans to expand into different areas of billing, such as emergency medical services billing, and extend its market reach. The company is investing heavily in intellectual capital to help healthcare providers capitalize on the changing marketplace and provide tools that better serve patients. Founded three decades ago, CGM US serves over half a million healthcare professionals in more than 40 countries as a global entity that provides the personal touch of a local business.