Wise Health System Improves Clinical Quality and Revenue Lifecycle with Data Analytics
Wise Health System began a clinical documentation initiative to improve coding. Three years later, what began as a revenue cycle priority became a new collaborative culture that improved clinical outcomes. With data analytics as a unifying factor, the health system bridged the gap between financial and clinical areas of the hospital, reduced heart failure readmissions, improved the average A1C rate among diabetics, and increased patient satisfaction scores to a new high.
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.
By 2020, fee-for-value reimbursement is projected to represent 83% of your revenue. 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.