There are many areas where a revenue cycle management partnership can be of great benefit, but it can be hard to know when it is time to take that next step. To help, here is a list of indicators to look for.
Six Signs Your PFS Department Could Use a Revenue Cycle Management Partner:
- Software conversion
- 3rd party aged services over 15%
- Days in AR over 50
- Unbilled is higher than 3 days in AR
- Self-pay aged over 120 days over 20%
- Denial rate over 5%
If your PFS department is experiencing even one of the six items above it may be time to consider partnering with a trusted revenue cycle management company like Healthcare Resource Group, Inc. (HRG).
We understand that not everyone loves the idea of outsourcing. The fear of a loss in control, quality and communication can prevent many from seeking the outside support and help they need. HRG feels so strongly about eliminating the negatives that can come with some outsourcing options we renamed our service OutPartnering™. A partnership approach can make all the difference when it comes to utilizing the specialized skills of an outside vendor. When OutPartnering™ with trusted revenue cycle specialists you don’t lose quality, communication or collaboration and gain the relief and results your department needs.
SENIOR DIRECTOR CBO DIVISION FOR HEALTHCARE RESOURCE GROUP, INC.
Cassie Wise's healthcare career began as an afterschool job at a rural hospital in the Inland Northwest. Fifteen plus years later she is leading one of the largest Divisions at HRG and possesses extensive experience with multiple Health Information Systems, Clearing house software, and EHRs,
Cassie's Division provides CBO services to multiple facilities nationwide including: PPS & Critical Access Hospitals, Rural Health Clinics and Indian Health facilities. She and her team provide their CBO partners with the AR tools and economic stability needed to focus on what is really important....caring for their communities.