MedeAnalytics’ Performance Improvement Assessment provides your organization with a detailed evaluation of existing revenue cycle operations, current performance benchmarking, and identification of opportunities for financial and patient experience improvement. Our knowledgeable professionals conduct the evaluation with minimal impact to your organization through a three-step process that includes data gathering and analysis, an on-site review, and presentation of findings.
Data Gathering and Analysis
Data gathering begins with a tailored request for information related to your revenue cycle environment. This includes key financial, operational and organizational data, as well as information on existing revenue cycle management tools and reports. We identify specific performance issues and quantifiable areas of opportunity, both of which guide development of the schedule and agenda for the on-site review.
The onsite review is scheduled in advance with designated people from your organization. We focus on the following specific activities:
- Assessment of the efficiency and performance of key revenue cycle functions including scheduling, pre-registration, registration, insurance verification, financial counseling, case management, medical records, billing and follow-up
- Assessment of the frequency of patient co-payment collections, as well as financial counseling/assistance capabilities
- Identification of revenue cycle workflow and account bottlenecks from the point of referral through the delivery of care to the point of account resolution
- Identification of existing processes and tools used to routinely monitor the performance of revenue cycle functions
- Analysis of the organizational structure and any performance goals related to key functions within the revenue cycle
- Review and evaluation of current policies, procedures and training resources
- Assessment of current staffing levels and evaluation of staff capabilities and competencies
- Evaluation of information systems currently used in the revenue cycle and identification of needed capabilities or opportunities for improvement
Presentation of Findings
After completing our assessment, we make specific recommendations for improved performance, including changes in processes, policies and procedures, organizational structure, technology and staffing. We also estimate the expected impact of each opportunity, including the potential improvement of your key performance indicators and expected financial outcomes.