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Coronis Health: The Next Evolution in RCM
Stephen Grubbs, CEO, Coronis Health
There is a new rule of thumb in the business world—one size does not fit all. Yet, when it comes to the healthcare landscape, many RCM service providers continue to apply an ‘across the board approach.’ What they fail to understand is that no two specialties or facilities practice medicine in the same manner, and as a result, their RCM and billing needs also vary greatly.
This is where Coronis Health is breaking the mold with their partnership-based, consultative approach that goes beyond just RCM to provide immeasurable value to clients. Although the company offers the traditional services of billing, coding, credentialing, and analytics, the key for Coronis Health is specialization. Whether it’s a rural hospital focus, ASC, orthopedic, cardiology, lab and pathology, or behavioral health (to name a few), the company houses specialists from across the country who are experts in handling the complex or unique business requirements of each type of specialty. “At Coronis Health, we look at the entire picture of a hospital or medical practice’s financial health. We strive to be more than a vendor. We want to be a partner, helping our clients achieve their short-and long-term financial goals,” begins Stephen Grubbs, CEO of Coronis Health.
Today, Coronis’ boutique approach to RCM truly makes them stand out in the industry, and their years of experience combined with dedicated teams ensure that clients witness an increase in collections as well as improved revenue cycle performance. For instance, if a rural hospital is struggling to keep their doors open, Coronis can help implement RCM solutions that are cost-effective and improve revenue, or if a client wishes to remain independent amidst various healthcare M&As, then Coronis can devise suitable strategies on how they can stay relevant. “As the reimbursement model gets more complicated with value-based care, in addition to staffing challenges and the increased cost of running a business, today, healthcare providers and facilities are faced with increasing obstacles.
We want to be a partner, helping our clients achieve their short-and long-term financial goals
Whether their goal is to remain independent, grow, or even survive, a new approach to revenue cycle is key,” states Grubbs.
To give an overview of their solutions strategy, at the onset of each new project, Coronis Health gains a clear understanding of the client’s current processes, goals, and the challenges at hand. Next, the team determines, which pieces of the revenue cycle are better handled in-house and what should be outsourced. Grubbs explains, “It’s our responsibility to ensure that all functions regardless of who’s doing it are working seamlessly together. It’s never a cookie-cutter approach.” Moreover, the company also supports all major systems, reducing the onboarding time and fear of change that clients often have.
Given their customer-centric approach and unique specialty expertise, currently, Coronis is the partner of choice for over 550 healthcare facilities and practices. Stephen Grubbs adds, “By being a natural extension of our clients’ organization, we think as if we were them, performing as ‘Practice Managers’ or ‘CFOs.’ That includes thinking about RCM in the ways that our clients should think.” To further substantiate their value proposition, Grubbs refers to a case in point where recently, Coronis helped a cardiology group create and execute an expansion plan, which underscores the sense of partnership and relationship that they stand for.
What’s Coronis’ future course of action? The plan is to add more healthcare domains into the portfolio as well as invest heavily in technology. Along those lines, Coronis is currently working on an AI for AR solution, which will significantly reduce the time taken— through advanced automation—to address challenges in AR follow-ups, denials, and reimbursements. In essence, Coronis’ roadmap, unique consultative approach, and comprehensive services only reconfirm one thing—they are the future of RCM services, empowering healthcare facilities and practices to improve collections and redefine care delivery.
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