Revenue Cycle Advisor: Hospital

Success Stories

Denial Managements Improvement Effort Produces $14.99M Reduction in Denials

At MultiCare Health System, the processes for denial management were not as effective as they could be, negatively impacting net patient revenue and financial performance through millions of dollars in adjustments. While only two-thirds of denials are recoverable, nearly 90 percent are preventable. MultiCare looked at improving denial management as an opportunity to improve appropriate revenue capture for services provided. Through targeted improvement efforts that included standardized workflows and increased data visibility, the health system is improving the root cause of denials.
Results:

$14.99M reduction in denials and avoidable write-offs.

Read more
My Folder

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.

Read more
My Folder

Healthcare Revenue Cycle: How to Improve Data Timeliness and Reduce Manual Work

With cash flows declining, margins tightening and bad debt increasing, it’s more important than ever for healthcare organizations to maintain their bottom line. Efficient, effective revenue cycle management that ensures timely payment is one key to an organization’s financial health. Learn how this healthcare system: a) improved their data timeliness, b) realized an estimated $380K in annual operational savings, and c) reduced manual work.

Read more
My Folder