Improving Collections and Customer Satisfaction by Applying Revenue Cycle Best Practices and Workflow Enhancement
A top provider of information solutions and revenue cycle management services in the outpatient space was facing substantial loss of revenue stemming from workflow-related problems with their offshore revenue cycle partner. Management of the workflow was inconsistent with little communication between departments. “Things” were falling through the cracks, most notably, revenue. During a time of rebuilding and renewed emphasis on customer satisfaction, these issues had to be resolved. However, the customer’s leadership team was understandably hesitant to consider another offshore partner.
Issues leading to revenue loss:
Departments were working independently instead of as a cohesive unit
Workflow not well defined and ambiguous
Management tool did not support the workflow needed
Clearly define the revenue cycle workflow to increase revenue.
Access Healthcare’s revenue cycle experts first set to work defining the workflow and understanding the customer’s business from top to bottom. The ambiguity of the workflow caused some challenges, but a fully customized solution emerged leveraging Access Healthcare’s best practices engine, the arc.in workflow management platform, and a needs-based compliment of services. The customer’s 35 clinics were segmented into regions, each clinic receiving a single team to manage workflow from start to finish. Issues involving communication between, for example, A/R and Denial Management are resolved in mere minutes eliminating those proverbial cracks.
In an effort to demonstrate true partnership, Access Healthcare aligned incentives by participating in a revenue sharing model. As a result, the customer achieved their highest collection rate… ever. Additionally, customer satisfaction is at an all-time high.
Days to Bill – 26% reduction
Credit balance – 16% reduction
AR > 90 – 13% reduction
Collections – 26% improvement ($1.5 million improvement)
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