Overview
Serving Southern New Mexico & West Texas, Three Crosses Regional encountered significant difficulties in managing its revenue cycle across both its specialty clinics and 46-bed acute care hospital.
“By late 2023, we were facing mounting challenges with our revenue cycle management,” explained Three Crosses Regional Hospital CEO John Lanning. “Prolonged insurance days in AR and diminishing collection rates were straining the cash flow of both our clinics and hospital.”
In particular, the healthcare group was dealing with:
- High days in AR, particularly insurance AR aged over 90 days
- Lower than expected collections as a percentage of charges
- Inconsistent cash flow, with older accounts lingering unpaid and newer accounts taking too long to get out the door
Finding a Revenue Cycle Solution
In response to these challenges, Three Crosses partnered with MedHQ’s Revenue Cycle Services team, led by Derrick Idbeis. MedHQ offered a comprehensive approach to streamline and enhance the revenue cycle process.
“Their responsiveness, healthcare expertise, and dedicated team were exactly what we needed,” said Lanning. “Derrick Idbeis and his team quickly became more than a vendor—they were a true partner, consistently providing leadership and tailored solutions for our specialty clinics and hospital.”
Key strategies implemented by MedHQ included:
- Intensive review and cleanup of legacy accounts to improve immediate cash flow
- Strategic improvements in collections processes for both clinics and the hospital
- Ongoing leadership support and customized guidance to meet the unique needs of Three Crosses
The Results
Through the partnership, Three Crosses achieved significant financial improvements across both the clinics and the hospital.
Clinic Outcomes:
- 16% increase in collections as a percentage of charges
- 21% reduction in insurance days in AR
- Collected an additional month’s worth of cash from legacy accounts, prior to MedHQ’s engagement
Hospital Outcomes:
- 31% reduction in days in AR in 2023
- 41% decrease in insurance AR over 90 days
- 18% increase in collections as a percentage of charges
“The results of our partnership were outstanding,” said Lanning. “To put it simply: MedHQ exceeded our expectations at every turn.”
To discover how MedHQ’s Revenue Cycle Services can help enhance efficiency, improve staff satisfaction, and streamline operations for your surgical facility, please contact us here.
