Wheaton Franciscan Healthcare Improves All Points of the Revenue Cycle
Wheaton Franciscan Healthcare is a Catholic, not-for-profit healthcare organization serving areas of Wisconsin, Iowa, and Illinois. With 22,000 employees, the organization includes 18 hospital campuses and a number of outpatient, long-term care and home health organizations. Wheaton Franciscan Healthcare uses MedeAnalytics Revenue Cycle and Patient Access to intelligently manage accounts receivable (AR) while also driving collections and efficiency in patient access. By leveraging these solutions, Wheaton has reduced outstanding receivables by $15.4 million, lowered bad debt by $8 million, and increased point-of-service collections by 50%.
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.
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.