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.Read More
Some organizations measure the value of a self-pay department exclusively on its ability to collect cash. Cash collection is an important aspect of this department but fails to recognize the importance the of the self pay team in providing exceptional patient experiences. To adequately measure your self pay department you should be looking at a variety of Key Performance Indicators (KPIs) on a regular basis. These KPIs should have a balanced focus that includes measurement of staff performance, utilization of technology and patient experience. Within your self pay department there are several simple KPIs with easy-to-monitor best practice metrics.Read More
Creating a successful OutPartnering™ relationship depends greatly on finding a partner that you have synergy with, one who is in it for the long run. When engaging with a new partner focus on meeting your immediate objectives for today but also ensure that you have goals for future growth.
Productive and lasting relationships can be enhanced through regular meetings with your vendor. Weekly or bi-weekly meetings via conference call can allow both parties to voice concerns, find resolution to current issues, find opportunities for improvement and establish common goals for the future as well as celebrate successes.Read More
Do you spend sleepless nights thinking about how to maximize throughput within your revenue cycle functions? Throughputs can include increasing cash, decreasing days in revenue outstanding, improving customer satisfaction or maintaining compliance standards and the available strategies are often complicated by external factors such as: consumerism, newly insured patients, increases in patient liability, sophisticated payer edits, denials for payment and staff turnover.Read More