Future-Proofing Clinical and Financial Outcomes: Understanding the “Mid-Cycle”
As the healthcare industry moves away from fee-for-service and toward fee-for-value, clinical outcomes and related documentation are becoming the foundation for a health system's financial well-being. The Mid-Cycle is the pivotal intersection that helps define financial and clinical performance. Optimizing the mid-cycle allows the offices of the Chief Financial Officer and the Chief Medical Officer to understand their interdependence and to have a common ground for crucial conversations to enable workflows that will improve revenue and measurement of clinical quality.
In this webinar, you will learn:
- How the shifting healthcare landscape is affecting cash as well as quality reporting
- Why the mid-cycle is critical to managing evolving trends related to cash flow and margin performance
- Approaches for fostering conversations between financial and clinical leadership
Patient Access provides critical real-time analytics information during the patient registration and payment clearance processes. With intuitive dashboards and simple step-by-step checklists, front office staff are able to accurately estimate patient cost, improving pre-service collections and reducing back end denials.
The powerful Population Health analytics tool provides unmatched insight into understanding high-risk patient populations. By aggregating data on costs, quality and efficiency measures across multiple sources, it proactively identifies gaps in care and segments at-risk populations, cutting clinical costs and ensuring viability in a fee-for-quality system.
To ensure your financial viability, you need insight into the revenue cycle so you can boost cash collections, reduce bad debt, stop denials, enhance productivity, and guide business strategy. Business Office provides the analytics you need to identify revenue bottlenecks and manage reimbursement trends so you can focus your resources on what matters most: providing quality patient care.
Healthcare reimbursement is changing. By 2020, fee-for-value reimbursement is projected to represent 83% of your revenue—up from 43% today and 14% in 2010. Clinical operations will become vital to your bottom line. It is at the mid-cycle—the point between patient access and the business office—where improvement initiatives will have the greatest impact. Revenue Integrity gives you complete visibility into documentation and coding performance—and that of your peers. So you can quickly spot opportunities to improve revenue capture, minimize audit risk, and measure and monitor the impact of ICD-10 on your revenue.