Texas Tech University Health Sciences Center
Largest Collections Month in 49 Year History

Largest Collections Month in 49 Year History

In May, Texas Tech Physicians of Lubbock had the best single month of collections for any one month in our entire 49 year history. Think about that. It’s a big statement. 

We had net collection of $7,491,433. Congratulations to all who had a hand in it, and there were many.

The revenue cycle has been described in various ways—but, I like to think of it as a continuous loop. So many things have to go well — starting with good third-party payer contracts, effective enrollment processes, pre-visit financial clearance, point-of-service collections, timely clinical documentation and coding, the working of edits, AR follow-up and on and on the list goes. 

Of course, a huge shout-out to our hard working faculty and residents. We understand that nothing can be billed when work is not being performed. But, even when work is performed, there are many “moments of truth” in the revenue cycle that can cause us not to be paid or, at least, not paid quickly or with minimum expenditure of precious funds applied toward the effort.

So, give yourself a nice pat on the back—whatever role you play.  And, I can (and do argue) that there are no small roles at Texas Tech Physicians— we all are working together to achieve our vision of being a top-tier medical practice nationally recognized in quality patient care, satisfaction and value.