Identify a Road Map to Improved Performance & Increased Organizational Margins
Are you experiencing revenue cycle issues due to a recent system conversion that are affecting financial performance or patient satisfaction? Are your organizational performance indicators below industry standards or lacking altogether? A healthy revenue cycle is critical for organizational success—and in a constantly evolving industry, it’s important to stay at the forefront to enhance reimbursement. Technology conversions, Medicare and Medicaid changes, commercial payor contracting, ambulatory groupings, incentives and risk agreements require health care organizations to keep pace. A revenue cycle assessment is an excellent means to determine strategic direction and develop short, midrange and long-term plans.
Our Health Care Performance Advisory Services (HCPAS) team has a unique blend of industry, consulting and system experience, enabling us to do a deep dive into your revenue cycle operations and uncover ways to help improve your performance. We can assess your overall revenue cycle performance or provide a tailored solution to focus on your organization’s most critical needs in the core areas below:
- Pre- and post-system implementation
- Organizational structure
- Process flow and design
- Vendor performance
- Staff and team performance
- Denials prevention and management
- Key performance indicators and functional business office metrics
A BKD revenue cycle assessment can help improve operational and financial performance by providing:
- Strategic road map to overall improved operational performance
- Identification and quantification of current revenue cycle issues, including financial effect and opportunities for improvement
- Detailed recommendations for improvement in key revenue cycle functional areas
- Understanding of your organization’s performance in comparison to industry benchmarks
Self-Pay Strategy
Our HCPAS professionals can assess your organizational performance related to self-pay and self-pay after insurance collections, including reporting, point-of-service collections, liability estimators, patient contact strategies and third-party vendor management.
Patient Access
BKD can assess your performance related to insurance eligibility, registration accuracy, centralized scheduling, prior authorization and point-of-service collections.
Denials Management
BKD can help identify clinical and operational denials that lead to write-offs and revenue leakage. BKD can collaborate with your staff to obtain 835 data, establish denial reporting metrics and identify process and workflow improvement opportunities.
Case Management & Utilization Review
BKD can help your organization identify process gaps related to case management and utilization review that could lead to fatal level-of-care denials.
Risk Contracting
BKD developed Outcomes Compass™, a proprietary tool that can assist your organization in identifying yield opportunities aligned with risk contracting.
Coding & Hierarchical Condition Categories (HCC)
Concerned about lost reimbursement associated with HCCs? Our experienced coding consultants can assess your organization’s reimbursement risk related to coding.
Physician Practice Operational Assessments
Is your organization struggling with physician practice subsidies? BKD can help you identify opportunities to improve financial performance through expense benchmarking and revenue cycle performance improvement opportunities.
