But...What if You Could…?

 

1. SIGNIFICANTLY INCREASE CASH FLOW

• 94% of claims resolved at 1st submission (MRS data)

• 9% average cash flow increase (MRS data)               

 

2. SIGNIFICANTLY REDUCE DAYS IN A/R

• 23% reduction Days in A/R (MRS data)

• 74% satisfied patients paid bills in full (according to Modern Healthcare)

                        
3. INCREASE REVENUE CYCLE EFFICIENCY

• 78% of hospitals >200 beds had an avg. 6.2% revenue increase by outsourcing some Revenue Cycle Management (RCM) operations. (Black Book)

• $400 billion annual impact (Becker’s)

• Streamlining workflows

• Reducing denial rates

• Optimizing account resolution  

                        
4. KEEP 100% OF YOUR CURRENT STAFF

• No job loss

• Re-purpose employees               

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5. USE ECONOMIES OF SCALE

• Distribute expenses across RCM client base

• Reduce overall operating costs

                        
6. KEEP UP WITH INDUSTRY REGULATIONS

• Healthcare’s unprecedented rate of change

• RCM keeps               

 

7. ENSURE YOUR COMPETITIVE EDGE

• Develop efficient account resolution processes

• Achieve better liquidation rates

• Implement aggressive payer denial follow-up

• Apply transparent POS collection practices

• Employ innovative payment solutions

                        
8. RETAIN OVERSIGHT

• RCM - contractually obligated to perform with a certain level of success

• RCM accountable for their work                 

                        
9. HAVE HIGHLY TRAINED PROFESSIONALS WORKING FOR YOU

• Benefit from large, combined knowledge base of billing professionals

• Increase your profitability

• Never worry about staffing

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Is RCM…Cost Effective?

Does it increase revenue? Does it reduce days in A/R?

• 250 people may potentially be involved in a single patient's bill

• 55% - patient bills containing errors

• 30% - incorrect insurance verifications

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