Becker’s Hospital Review: How One Health System Cut 5 Days in Accounts Receivable
Baptist Health System, based in Birmingham, Ala., converted to the Epic enterprise EHR in 2013. The system complemented its new EHR with its established data analytics provider MedeAnalytics. Cindy Elder, manager of revenue systems at Baptist Health, describes her system’s experience working with the combination of Epic and MedeAnalytics for revenue cycle management.
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.
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.
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.