Is it operating at optimum levels to ensure maximum cash in the shortest period of time?
Is it suffering from a variety of chronic conditions, robbing your organization of cash?
The answer probably lies somewhere between the two extremes.
A comprehensive assessment of your entire revenue cycle by HCRCS experts will provide you with the answer to where you currently are on the revenue cycle continuum. More importantly, it will provide you with a road map for improvement.
Our time tested methods concentrate on assessing the three pillars of revenue cycle health.
1. Service Access
- Do your registrars fully understand the vital importance of accurate demographic, diagnostic and insurance information?
- Does your information system allow for online verification of coverage and benefits?
- Does your scheduling and pre-registration process allow for referral, pre-cert and diagnosis checking prior to services being provided?
- How effective is your ABN process?
- Do you collect cash and provide financial counseling at the Point of Service?
2. Service Documentation
- Do you have a late charge/lost charge problem?
- Does your Charge Description Master have accurate CPT codes?
- What is the cash impact of denied and reduced days?
3. Billing and Collections
- Do you know how much cash is being lost or delayed due to upstream breakdowns in the revenue cycle?
- How many Net Days of Revenue Outstanding are in DNFB?
- How effective are your collection agencies?
- What are your current bill hold days?
These are some of the issues that will be covered during a Revenue Cycle Review. When the Revenue Cycle Review has been completed you will know what needs to be done to tighten up your revenue cycle and speed cask flow into the organization.
Call HCRCS today for a formal proposal. You'll be glad you did. 410-956-7271
335 Derbyshire Lane
Riva, MD 21140-1510
(410) 956-7271
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