Impact Healthcare Solutions received a call from the CEO of a 49 bed PPS Hospital over concerns about leadership in the Revenue Cycle and the inability to access and analyze key performance indicators.
1. Increase the collection rate to 95%+
2. Mine and analyze data for measurement against KPIs
3. Reduce AR by 20%
4. Assess Revenue Cycle leadership
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.
Impact provided a solution to reduce AR risk, minimize human resource issues, and implement risk mitigation strategies, as well as establish a reporting mechanism by which Hospital Administration is able to evaluate key performance indicators to make important financial