Revenue Cycle Management: Analytic Driven Insights and Efficiencies
To run efficiently and use the money they earn to improve the health of a community, healthcare institutions must manage their revenue cycle well. Crystal Run Healthcare, one of the fastest growing multi-specialty group practices in the country, anda physician-led accountable care organization (ACO), is committed to ensuring that the dollars it earns serve its patient population and are not wasted on inefficient processes. To that end, Crystal Run recognized that to minimize manual reporting and make quick, well-informed decisions related to revenue cycle management, they needed to employ analytics. With the implementation of an advanced analytics application, on top of their EDW platform, this ACO now accesses data up to 99% more quickly, has reduced staff time to identify variance root causes by 97%, and is actively identifying financial management improvement opportunities.