Healthcare Revenue Cycle Optimization
Financial Viability Demands Revenue Cycle Excellence
Today, payment model and care delivery changes require you to focus on solutions and strategies that directly impact patient experience, revenue and long-term enterprise viability. Your organization has probably undergone significant change through implementing (or enhancing) enterprise electronic health record (EHR) capabilities. Now that the dust is settling, you may be asking yourself the following questions.
- Did we truly enhance the patient access experience?
- How are we measuring our charge capture efficiencies?
- Are we leveraging our system capabilities to optimize cash collections?
We Combine Technical and Operational Expertise in Healthcare Revenue Cycle Optimization
Impact Advisors provides objective expertise to improve the value and effectiveness of your revenue services, including operational workflow and system enhancement. We have deep healthcare revenue cycle application management knowledge and understand the importance of accurate, timely data for cash flow management, performance reporting and analytics.
- 3% – 4% improvement in net patient revenue
- Automate 25% to 50% of the revenue cycle operation
- “At Risk” to achieve Top 25% of EHR Go-Live Performance – help pay for EHR install
- Enhanced analytics needed to support investment decisions and evaluate risk-based arrangements
- Improved brand image and customer loyalty
Our healthcare revenue cycle optimization engagements typically involve one or more of the following activities.
Patient Access Services
- Patient registration / scheduling standardization
- Point of service collections
- Insurance verification and eligibility redesign
- Department creation
- Charge master audit
- Charge capture automation and reconciliation
- Utilization review
HIM / Coding
- Computer assisted coding
- Coding queue prioritization
- Deficiency management and redesign
- Clinical documentation improvement
- Clinical documentation review and redesign
- Utilization review optimization
- Recovery audit contractor (RAC) and 3rd-party audit redesign
Patient Financial Services
- Denials and avoidable write-off management
- Single billing office / self-pay yield
- AR management and cash acceleration
- Claims follow-up and work queue redesign
EMR Planning, Risk Mitigation and Stabilization
RPA, Cognitive Learning and Predictive Analytics