Lucid Diagnostics
Case Study and Interview
Lucid Diagnostics is a medical diagnostics company advancing groundbreaking technologies to revolutionize cancer prevention. Their innovative, non-invasive technologies are transforming the detection of esophageal precancer, empowering clinicians and enabling timely interventions.
BACKGROUND
Before partnering with Quadax, Lucid worked with two other revenue cycle management (RCM) companies. The previous RCM provider was chosen for its “perceived cost savings,” but ultimately led to increased costs and poor return on investment due to shortcomings in process management, data availability, and customer service. This prompted Lucid to seek a new partner. Lucid connected with Quadax and began a new collaboration and partnership in March 2023, going live in June of that year.
REASONS FOR CHANGE
Lucid’s main priorities in seeking a new RCM partner were twofold:
🔸Data & Analytics: The ability to understand in real-time what happens post-claim submission.
🔸Customer Service: Direct, accessible communication with the Client Engagement team and support staff.
SELECTION PROCESS
Lucid conducted thorough research and evaluation before choosing Quadax. A key factor was the potential cost savings. President and Chief Operating Officer Shaun O’Neil remarked, “We are a small company, so cost savings is always important. Quadax has experience with small companies like ours, particularly in unique situations such as launching proprietary sole-source tests with PLA codes.” He further explained, “This process isn’t just about general claim submission but also leveraging prior authorization and an efficient appeals process to provide medical justification.”
PREVIOUS CUSTOMER SERVICE CHALLENGES
Lucid’s experience with previous RCM companies was fraught with poor customer service. O’Neil recounted instances where basic inquiries, such as verifying the number of received claims, were met with insufficient responses and delays. "Even when we could reach someone, they were unresponsive to even the simplest requests. It was always a struggle, like pulling teeth to get any usable data,” O’Neil shared.
TRANSITION TO QUADAX
After a year of frustration with their previous RCM company, Lucid decided to switch to Quadax in March 2023. O’Neil noted that even a year later, in July 2024, Quadax is still picking up slack and addressing issues that were left by the former company. “Quadax embraced the partnership in tandem with us; working side-by-side and collaborating,” said O’Neil.
IMPLEMENTATION
Lucid had thoroughly researched potential RCM partners and understood that the transition wasn’t just about switching RCM providers —it was about rectifying the chaos left by their previous partner. Lucid was apprehensive about switching due to their previous experiences with uncertainty on how to manage the old claims that were not completed by the previous vendor. Upon deciding to move to Quadax in March 2023, Quadax took over the unresolved claims that had been submitted by the old provider, resubmitting them and running these in parallel with new submissions.
“We knew we were taking a risk by halting all at once with the old provider, but the Quadax team was committed to getting us up and running by mid-June, which was a very tight timeframe,” said O’Neil. “This commitment was critical to us to prevent any further backlog and to move the old claims through.”
The implementation process had two phases:
The first phase focused on swiftly establishing regular operations with Quadax and training the Lucid team. Customer service was pivotal in addressing the current challenging situation, as there was an urgent need to implement quickly to resume claims and receipts processing due to the previous vendor’s shortcomings, which had halted revenue flow.
Quadax provided a dedicated Account Executive, streamlining communication and tightening processes to expedite claims and maximize reimbursement. The experienced implementation team adhered to a disciplined and well-defined process. This process included thorough planning, detailed documentation, onsite meetings with experts, and clear milestones, all of which contributed to successfully achieving the set goals.
The implementation process began with training the Lucid team.
This phase was more complicated, as Lucid had approximately 2,000 claims with the previous RCM provider. Many of these claims had never been submitted, and the others remained unresolved under their management.
Quadax faced the challenge of managing these old claims with limited data from the previous provider. The Quadax team devised a plan to manage the couple thousand claims submitted by the prior RCM company, processing them in a way that allowed Lucid to differentiate between new (real-time) and old claims. This processing in parallel was crucial for Lucid to monitor both sets of claims separately for business reporting.
Phase two also included the technical aspects, including connecting APIs, integrating systems, mapping, and exchanging data, error detection, compliance, and security, testing and validation – all critical to streamline the claim process, improve efficiency, and ensure accurate and timely reimbursements.
Lucid and Quadax continuously work together to monitor performance with their account executive, use analytics and reporting tools to identify areas for improvement and optimize workflows.
“Today, everything is going well and continues to improve as we build our partnership. Having someone who picks up the phone and addresses issues is crucial, and that is happening! When there are problems or opportunities for efficiency, no one shies away from tough or constructive conversations. This willingness to engage is what makes us all better. Since onboarding with Quadax, our relationship has become tighter and stronger which naturally makes sense when you have a good partner. I attribute this success to the teams being committed, flexible, and working together,” says O’Neil.
Lucid is also leveraging the Quadax call center, which deals directly with their patients and providers, helping to support Lucid’s infrastructure. “If there are issues, we, our patients and our providers, get a response very, very fast. That makes me feel like we are part of one big team and not just another customer they are providing services for,” said O’Neil.
"We were welcomed with open arms in Cleveland at Quadax corporate, where our team received really important training from subject matter experts on the systems and gained access to comprehensive documentation. This was something we did not receive from our prior RCM providers."
— Shaun O’Neil, President & Chief Operating Officer at Lucid Diagnostics —
Intelligence by Quadax
Lucid is also leveraging Decision IQ by Quadax, an analytics and reporting tool accessible to the entire finance and executive team.
“I could not ask for much more in a tool, to be honest. It allows us to monitor our claims weekly and monthly and check our revenue streams with payers to ensure everything is running smoothly. It’s like an insurance policy, with checks and balances in place. If something goes wrong, whether in the lab with DNA or with claim submission, we can manage it more effectively. The robust Quadax front-end solutions and clear data access enable us to drive internal improvements,” said O’Neil.
RESULTS
(from Lucid’s Q3 2023 earnings release)
Upgraded RCM infrastructure showed sustained impact, driving:
Advice from President and COO Shaun O’Neil of Lucid Diagnostics
"Having gone through this process three times, I can attest that Quadax consistently meets all these criteria.
For me, it's about building relationships and meticulous due diligence.”
🔹Ensure you conduct a thorough due diligence process.
🔹Understand your company's landscape and specific needs in RCM.
🔹Interview multiple companies to find the best fit, focusing on customer support and data analytics.