Hospital Adds $24 Million To Bottom Line With Revenue Cycle Analytics (Healthleaders)

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[By Alexandra Wilson Pecci]

Eliminating manual processes for DNFB cases increased revenue, and also increased operational efficiency by 95%.

KEY TAKEAWAYS

  • Streamline data and eliminate manual DNFB processes with analytics to realize greater revenue.
  • Verify data continually to ensure accuracy of analytics.

Greg Stock, CEO of Thibodaux Regional Medical Center, is proud that his hospital is debt-free, and he’d like to keep it that way.

But in 2014, the 180-bed regional medical center in Thibodaux, Louisiana, had a problem: They had too many discharged not final billed (DNFB) cases, where bills remain incomplete due to coding or documentation gaps, and their A/R days were “too high” at 43.1.  According to the American Academy of Family Physicians, “days in A/R should stay below 50 days at minimum; however, 30 to 40 days is preferable.”

“That’s cash that’s sitting out there,” Stock says.

However, going through the accounts was a manual process that took hours to complete, and it was made more difficult by…View Full Article Here

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