Revenue cycle management is the beating heart of any healthcare organization. When it’s done right, patients get quicker access to vital services, clinicians can do their jobs more effectively and the organization increases profitability. Stringent regulations have hampered healthcare margins and need to invest in revenue cycle assessments today.
For over two decades, our Complete Healthcare Business Consulting teams have conducted numerous revenue cycle assessments for practices across the country. Through a consistent, proven methodology, each assessment offers a comprehensive analysis of your processes, data, technology, fee schedules, and staff members, giving practices a stable foundation for growth. Each assessment is made according to your business needs, priorities, and organizational structure.
What Are The Benefits of Revenue Cycle Assessment?
As tracking revenue becomes increasingly complex, effectively managing revenue cycles reduces the risk of lost revenue. Doing so allows physicians to stay focused on patient care without worrying about sustainability. Revenue cycle assessments can unmask systematic problems in processes and procedures.
At Complete Healthcare Business Consulting, our consulting teams offer a comprehensive, focused or a quick assessment of your revenue cycle process to help you better understand the underlying causes of concern or poor performance. We provide innovative solutions to streamline revenue cycle operations and optimize revenue results in the following:
- Reduce patient bad debt
- Accelerate cash collections
- Decrease patient billing and collections costs
- Set clear financial expectations with patient-friendly estimates
- Customize payment policies based on a patient’s propensity to pay medical bills
- Improve patient satisfaction by minimizing billing hassles
- Enhances flexible payment options, including debit, credit, and recurring payment plans.
Included in our assessments is a Performance Improvement Roadmap, providing our outline of recommendations based on effort, impact, and costs. Through this process, we can work closely with you to implement based best practices, enhance policies and procedures, increase efficiencies and to streamline your revenue cycle. By managing your revenue cycle, current billing processes can be streamlined, and missing revenue opportunities can be revealed.
Contact our consulting teams to optimize your revenue cycle today.
Changing practice management systems? This too must be completed systematically to ensure a smooth revenue stream. Timing is critical to ensure cash flow, staffing adjustments, workflow, and technology conversions. Our consulting team is here to guide you through the process and help ensure you have covered all bases for smooth transition. Call today.
