Reaching patient capacity was capping revenue
Dr. Bowarshi opened his practice in January just before the pandemic. Despite the difficult timing, Dr. Bowarshi’s TMS clinic grew and regularly had a full schedule of patients by midyear.
Gentem reduced our accounts receivable from an average of 90 days down to 20 and dramatically increased our revenue.
Psychiatrist, Florida TMS Clinic
About Florida TMS Clinic
Florida TMS Clinic opened its doors in Wesley Chapel, FL, on Nov 4, 2019. We aimed at providing the highest quality TMS therapy in the Tampa Bay area. With high quality and integrity standards, we grew fast from one treatment room to three treatment rooms and five employees in less than one year. Florida TMS Clinic established the top position in the Tampa area, providing the best TMS Therapy.
“The future is exhilarating! We anticipate further growth across Tampa, Florida, allowing us to touch the lives of more people fighting depression, anxiety, and other mental health wellness issues.”
26843 Tanic Dr STE 101 Wesley Chapel, FL 33544
Nov 4, 2019
While the first six months of his practice were focused on finding patients to fill his schedule, Dr. Bowarshi then faced a new business problem: “How do I maximize revenue and optimize the workflows for my packed schedule?” Fortunately for him, he found a solution.
After consulting with Gentem, he learned he could increase his monthly revenue and cash flows with some operational changes that would increase his reimbursements and shorten his average A/R.
That’s when he switched to Gentem. Within 30 days, he saw a 15% increase in monthly revenue without changing his patient load. Basically, he was getting paid more for the same amount of work.
Poor procedures affected clean claims, leaking revenue
Almost immediately, Gentem realized inconsistent processes for acquiring prior authorization led to mixed results and varying timelines. This inconsistency became an opportunity. Gentem worked with Dr. Bowarshi to establish consistent prior authorization processes that reduced the time and overhead spent reworking and resubmitting claims.
Solving the prior authorization problems was the single biggest impact Gentem had. Discovering and solving this problem was the combination of Gentem’s predictive revenue modeling, proprietary AI software, and a team with decades of experience working with clinics.
Reducing time to submit claims improved delayed payments and denial capture
Now that the foundation had been properly laid, Gentem could focus on optimizations that would impact revenue immediately. As more processes were put in place by the Gentem team, Dr. Bowarshi’s clinic saw improvements like average time to submit a claim also dropped below 24 hours — an increase by more than 20%.
Plus, Gentem’s software uncovered bigger opportunities for improvement that dramatically reduced Dr. Bowarshi’s average days in A/R from 90 days down to 20 days. TMS practices often see a higher percentage of denials and reworks because TMS is a fairly new procedure, making this improvement even more impressive.
Leveraging AI led to new revenue opportunities
Although improving prior authorization workflows was the single biggest item Gentem helped Dr. Bowarshi’s clinic with, Gentem’s predictive revenue modeling showed opportunities to apply additional CPT codes to nearly every patient encounter. These additional codes increased the clinic’s revenue almost every session.
Gentem discovered these additional CPT codes through Gentem’s platform and AI modeling. With Gentem’ s technology, he was able to see the data he needed in real time to make changes that impacted his revenue.