The health care market can be a difficult web to navigate between regulation, constantly evolving technology and ever-present consolidation throughout the industry. Those that can sustain the rough road can be better conditioned for future growth.
Denver-based BioScrip, Inc. is the largest independent national provider of infusion and home-care management solutions, with roughly 2,200 employees and nearly 80 service locations across the United States. The company operates with a commitment to bring customer-focused pharmacy and related healthcare infusion-therapy services into the home or alternate-site setting. By collaborating with both healthcare professionals and the patient, BioScrip provides cost-effective care driven by clinical expertise, customer service, and values that promote positive outcomes and an enhanced quality of life for those it serves.
Danny Claycomb was appointed as senior vice president of revenue cycle management in 2017. As he puts it, his role is to help the company maintain the financial health of its patients, which includes everything from back-office operations to working patient-support centers and managing supplies and invoices.
BioScrip is undergoing a transformation of its revenue cycle and modernizing operations to improve quality for patients. Claycomb notes the company is at a point where he needs to manage more patient needs with the same number of staff, so in addition to new systems, it also means new policies, training, and standardized operations. Thankfully, he notes, his team and the IT department rose to the challenge.
The company is working its way back after a few lean years after running into some multimillion-dollar financial losses in 2016. At the time, BioScrip CEO Dan Greenleaf acknowledged the company had significant work ahead to right the ship. Although the turnaround wasn’t necessarily quick, Greenleaf acknowledge in a 2018 conference call with investors that the company was on the right track—putting the right people in the right seats, increasing accountability and creating a high-performing culture at the company.
“BioScrip is a fundamentally stronger business and I look forward to moving from the turnaround phase to new chapter of profitable organic revenue growth,” he said on the March 2018 call. “The home infusion industry is growing five to seven percent per year, driven by accelerating shift in healthcare away from higher cost, institutional settings such as hospitals to the lower-cost home setting which is preferred by patients and delivers effective outcomes combined with lower risk of infection.”
Greenleaf noted that hiring Claycomb was a move to by BioScrip to bring in one of “the best in the business, Danny has improved debt situations wherever he has gone,” he said.
“Danny is an innovative leader who inspires and empowers his team to solve the toughest receivables management challenges,” says Karan Negi, CEO of Credence Resource Management. “He creates highly effective solutions that deliver outstanding results.”
In his short time with BioScrip, Claycomb has not only managed to assemble a highly functioning team to transform the company’s revenue cycle, but also fostered strong relationships with the company’s vendors, whom he prefers to call “partners.” Claycomb has to tread a fine line between meeting customer needs and staying acutely aware of the loaded regulatory environment in which BioScrip operates.
The moves made by BioScrip in the time since show that Claycomb and the team are pushing in the right direction. In April 2018, GeBBS Healthcare Solutions announced a partnership with the company to provide end-to-end revenue cycle management solutions to help BioScrip enhance business operations.
“We decided to partner with GeBBS due to their overall experience in revenue cycle management and optimization along with their ability to provide additional valuable workflow software and consulting services to our organization,” Claycomb said in a statement.
Nitin Thakor, president and CEO of GeBBS said he was proud of the partnership and ensured the company’s tools will make BioScrip’s processes and operations more efficient and enhance its overall financial performance.
In another promising move, in January 2019, BioScrip opened a new ambulatory infusion suite in Jefferson Parish in New Orleans, which will hold 44 full-time employees. The company moved into a 15,000-square-foot suite, and adds to the company’s Louisiana presence, which also includes a workforce in Covington, Hammnod, Lafayette, Houma, Lake Charles, and Baton Rouge.
In Claycomb’s estimation, the company’s continued success remains rooted to its commitment to its customers and further innovation.
“We are about the patient experience, delivering the best care in the industry for the patient and being a leader in innovation,” he says.
Avantha is proudly associated with Bioscrip Inc. since 2009 and has been facilitating Bioscrip in Revenue Cycle Management Services, Data Management, Analytics and Information Technology related assignments.
Danny has been working very closely with Team Avantha and has been instrumental in guiding Avantha team to establish the best industry practices in the processes/projects that Avantha team has undertaken under his leadership.
Our services and solutions cover the entire lifecycle from Data Management to revenue realization. This blend of technology and services has helped Bioscrip in creating operational efficiencies, quality output and revenue optimization.