PSR, LLC, a national leader in providing outsourced management and business support services for physicians and medical practices, has negotiated a three-year renewal with MedSynergies Inc. on behalf of two physician groups. MedSynergies, the leading provider of hospital-physician alignment solutions, will be delivering physician billing services.
Extending a relationship established in 2010, the agreement allows MedSynergies to continue supplying full revenue cycle services to optimize business returns for more than 80 PSR-managed providers. MedSynergies will also be providing business analytics and verification of benefits.
“Revenue cycle services from MedSynergies include the tools and expertise to manage the complete revenue cycle from data creation through claim submission, payment processing and accounts receivable,” said Jamie Dye, senior vice president of development for MedSynergies. “MedSynergies couples these services with verification of benefits, which is a crucial first step in managing the revenue cycle for practices.”
Working with providers that include Raleigh-Durham Medical Group and El Paso Clinics, PSR strives to relieve its physicians from the burden of dealing with day-to-day business operational issues. As a physician practice management organization, PSR is dedicated to meeting the business needs of physicians with tailored solutions that ultimately leave physicians in charge of their own practices.
“In renewing with MedSynergies, PSR is benefiting from real expertise in revenue management, and we are able to blanket our client practices with the operational support they need to improve business performance, so the physicians can focus on patient care,” said David Singley, CEO of PSR. “Physician practices hire PSR to provide business support infrastructure including accounting, IT, HR, payroll and contracting, among others. We also assist physicians in selecting billing companies, and in this case MedSynergies was a great match.”
PSR will also tap MedSynergies’ business analytics, a powerful reporting package to help providers identify potential workflow improvements. The tool helps measure the performance of each payer with customized reporting, allowing the practice to identify specific areas to optimize process efficiency and reimbursement.
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