Impact Healthcare Solutions received a call from the CEO of a 25 bed Critical Access Hospital in critical financial condition. The CEO requested immediate assistance over concerns that she may have to close the hospital without guidance and a solution to increase cash.
1. Increase the collection rate to 95%+
2. Stabilize cash flow by reducing expenses
3. Improve charge capture
4. Reclassify improperly-resolved balances from patient responsibility to active insurance claims
5. Consult to develop new revenue streams
Impact team members immediately began management consulting with Hospital Administration and implemented a full-service Revenue Cycle solution.
This hospital invested in new technology, medical staff, and personnel to access new revenue streams. The hospital completed extensive renovations and now has plans to build a new facility.