See how other organizations benefited from our expert services, resulting in reduced costs, increased revenue, and increased staff performance.
Strategy: Understand Denials, Increase Point-of-Service Collections, and Reduce Costs
Background: Rural non-profit hospital.
- Provide key findings and opportunity assessment regarding operational improvements and strategic sustainability alternatives.
- Evaluate current state performance of revenue cycle functional areas (front, middle, and back) based on available data, key performance indicators, staffing, and workflows.
- Assess current organizational structure to determine if it supports and promotes efficiency and growth
- 10+ staff interviews and focus groups with key stakeholders
- 35+ job shadowing observations
- 100+ sample accounts reviewed during root cause analysis
- 40+ source documents reviewed for effectiveness
- Analyzed data assets (ATB, POS Collections, 835s, Denials, Write-offs, and KPIs)
- Identified $2.36M in potential growth year over year
- Formation of pre-access unit will mitigate the denials originating from registration and eligibility which makes up 44.3% of total denials as well as eliminate unnecessary double work the organization was unaware of.
- Educate and train staff on point-of-services collections to drive organization and increase collections by $515K.
- Streamline manual follow-up processes to prevent 21% of open account receivable to be aged by 120+ days.
- Develop denials management information so c-suite staff are aware of the current state, managers can implement initiatives, and frontline staff are aware of what causes denials.
Organization’s Ongoing Opportunity
- Identified opportunity to increase the organization’s net patient revenue by 3.9%
Strategy: Reduced Costs, Increased Revenue, and Improved the Patient Experience
Background: Large health system in the Midwest. Net revenue of $3.5B. 20 hospitals and 62 outpatient locations.
An ineffective patient payment collection cycle and segmentation strategy led to lower than expected revenue and higher operating costs
Used an evidence-based assessment methodology, integrated with analytics, to find and validate where inefficiencies were occurring in the payment cycle
We reduced annual operating costs (-$2.5M) and increased annual Cash Flow (+$4M) by redesigning the patient payment collection cycle and re-aligning their segmentation strategy