PPS | 38 Beds | CPSI

 
Impact Healthcare Solutions received a call from the CEO of a 38 Bed PPS Hospital over concerns of Business Office staff struggling to keep up with their workloads. The hospital had recently added new inpatient services lines, and the existing staff were struggling to understand how to successfully resolve the AR.
 

The Challenge /Key Findings of our initial Assessment:

1. Increase the collection rate to 95%+
2. Reduce uncoded charges to 2 Days of Revenue or less
3. Reduce AR days by 40%

 

The Solution

Impact team members conducted a Revenue Cycle Performance Assessment and identified areas of opportunity. The assessment included thorough reviews of patient in-take, charge capture, coding, claim submission, insurance follow-up, denial management, posting, patient collections, and key performance indicators. The hospital determined that the best strategy for Revenue Cycle optimization was to transition to a managed service solution in which Impact Healthcare Solutions provides a full complement of Revenue Cycle Services and Management.
 

The Results
In 34 months…
  • 12.59% increase in collections
  • Increase of over $1,600,000 in collections per year
  • Top 2 highest monthly collection totals ever
  • Insurance A/R Days reduced from 55 to 33, a 40% reduction
  • Insurance A/R reduced by $2,797,578.10

With the ability to successfully resolve the AR, the hospital’s new service lines became profitable.
 


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