Extended Business Office Services 2021

KLAS publishes new findings on Extended Business Office Services 2021 and achieving profitability while reducing the administrative burden. 

PwC is a leader in Overall Performance & Offerings in this report. 

The KLAS report states that, ‘Citing labor shortages, slimmer budgets, and higher costs, more and more healthcare organizations are turning to outside firms to fill gaps in their business office operations and meet their revenue cycle needs. With specialized expertise, firms that offer extended business office services (EBOS) can achieve economies of scale, allowing healthcare organizations to remain profitable while delivering quality care.’ 

The report says, PwC was rated highly for applying strong efforts in both commercial and government contracts and KLAS rates PwC high in ‘How well do firms give equal effort across all accounts? It goes on to say that ‘PwC clients report that the firm goes to great lengths to understand and then meet the needs and expectations clients have for the engagement and to devote sufficient resources to ensuring all assigned accounts are worked.’

KLAS mentions that ‘PwC clients report that while COVID-19 was wreaking havoc on healthcare facilities and providers, their EBOS firms went above and beyond to maintain open lines of communication and strong, productive relationships.’

On customer interview details, some of the comments that stood out about PwC included:

‘Nothing has changed. COVID has not changed our relationship one bit. Our insurance referrals didn’t go down for PwC as much as our self-pay side did. There haven’t been any really significant changes to our relationship with PwC related to the COVID-19 pandemic.’

‘The relationship has still been the same, and the communication is still the same. They communicate through email and through phone discussions. They reach out when there is anything they have worked on with other organizations that they feel they could help us tackle as well. PwC does a terrific job.’

‘PwC goes out of their way to keep in contact with us. They have set up several virtual meetings to help keep us connected.’

‘They had an excellent results presentation that covered all areas that they worked on. Even when the results weren’t good, they were transparent. We have weekly calls to discuss everything.’

Josh Cahn, Partner, PwC US, said: ‘It is great to receive this hard-earned recognition from KLAS, especially because it is based on feedback directly from our clients. We provide award winning healthcare revenue cycle services enabling our healthcare provider clients to deliver on their mission in the communities they serve. Our Virtual Business Office delivers a unique partnership to improve financial yield while innovating our client’s internal processes for future success. Being both a managed service partner and strategic advisor, our team’s drive improved business outcomes in all of our healthcare engagements and build relationships based on trust, transparency and impact.’