These orthopedic specialists depend on Oracle Cloud to help them quickly analyze patient histories, financial statements, accounts receivables, and payer reimbursements.
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For more than 20 years, Arlington Orthopedic Specialists has provided patients throughout North Texas with specialty orthopedic healthcare services. Arlington Orthopedics employs 36 physicians and medical professionals, and offers more than 40 precision orthopedic specialties, treating patients for joint and spine pain, injuries, replacement, and reconstruction.
While Arlington Orthopedic’s commitment to patient care hasn't changed in that time, the medical industry certainly has. Declining healthcare reimbursement rates and changing regulations pose big potential risks to the business, requiring the firm to have a deep understanding of both its patients’ needs and its own costs.
We can lose money if we don’t carefully monitor patient data and analyze costs.Honey Ranario, CFO, Arlington Orthopedic Specialists
New bundled payment models introduced by the Centers for Medicare and Medicaid in 2018 require practices like Arlington Orthopedic Specialists to provide certain healthcare services at negotiated prices for Medicare and Medicaid members. In order to avoid losses, Arlington must analyze every facet of its operations to make sure its costs don’t exceed contracted pricing agreements.
Using Oracle Analytics and Oracle Autonomous Data Warehouse, Arlington staff can visualize detailed financial scenarios instantly, helping them negotiate the right rates with insurance carriers, and then allocate those savings toward programs that improve patient care. Such rapid analysis also has helped Arlington speed up payment and claims investigations, boosting company revenue by 18%. Patient count has doubled without adding maintenance and support IT costs and resources.
Arlington Orthopedic increased collections by 62 percent and reduced days-of-sales-outstanding from 79 days to 22 days by using Oracle Autonomous Data Warehouse and Oracle Analytics to instantly verify that claims are correctly coded, submitted, and paid.