Services

Revenue Cycle - Billing & Collection Performance

Approach
Health care organizations face a growing and diverse set of issues to successfully bill and collect for the patient care they deliver. We utilize a comprehensive approach to identify and resolve the issues causing delay in either dropping an accurate bill or in bill payment.

Beginning with an assessment of a Hospital’s existing revenue cycle and A/R, we identify the most significant problems, prioritize the areas where improvement will have the greatest impact, and recommend actions and initiatives to reduce the level of A/R.

Our comprehensive approach:

• Review the level and detailed aging of billed A/R and unbilled (DNFB) accounts
• Analyze the situation-specific data in the context of trends and performance benchmarks common to the health care industry
• Review policies and processes to drop a bill and to follow-up unpaid accounts
• Determine the most prevalent reasons for the lack of timely payment of billed A/R
• Analyze accounts in a DNFB status to determine the root cause for delay in billing
• Analyze accounts billed incorrectly or denied
• Analyze the current use of technology
• Evaluate billing vendor and collection agency performance

Deliverables
Upon completion of our review, we prepare an action plan, which includes practical high priority recommendations that can be implemented to improve the billing and collection function and the organization’s cash flow.

Our deliverables include:

• Development of an action plan for improving patient accounts receivable
• Improved processes for initial claim submission and account follow-up
• Recommendations on what to outsource versus what to keep or bring in house
• Identification of timeframes for working accounts in-house before sending them out
• Delineation of length of time vendors should have accounts
• Recommendations for enhancing the use of technology