In a climate of growing requirements for population health management and changing reimbursement models, Baptist Health System recently converted to Epic in an effort to manage clinical outcomes, improve revenue cycle productivity, and ultimately ensure financial viability. Although system conversions come with challenges of their own, MedeAnalytics Business Office gave the organization quality, credible data analysis that enabled them to convert to Epic with confidence.
Before implementing MedeAnalytics in 2005, Janice Ridling, Vice President of Revenue Management at Baptist Health System, noticed a lack of quality, credible data analysis. “It was difficult to get the information we needed,” she said. “What we did get were canned reports that weren’t timely. Plus, we were always reporting on the past. We had no predictive analysis and no ability to slice and dice the data.”
With MedeAnalytics, Baptist Health System gained access to real-time insight into the revenue lifecycle, identifying bottlenecks, delays, black-hole accounts and more. The data analytics solution enables the health system to proactively trend AR data, perform comparative benchmarking and drill down into detailed patient accounts and transaction detail.
Baptist Health System came to trust this data over the years and that trust was strengthened during their conversion to Epic. Analyzing the complex data stored within Epic can be time consuming, often requiring assistance from IT. Epic performs at its best when complemented by self-service data analytics solutions, like those from MedeAnalytics. Having easy access to these data insights proved vital to the organization in their attempts to identify and plug revenue gaps.
With MedeAnalytics, Baptist Health System was able to:
- Reduce AR days from 47.1 to 40.1
- Track and trend self-pay and POS collections
- Confidently convert to Epic while maintaining self-service analytics
Baptist Health System’s revenue cycle achievements have also been recognized by HFMA. For the fourth time, the health system won the HFMA Map Award for High Performance in Revenue Cycle this year. Winners of this national award demonstrate inventive, patient-centered revenue cycle practices that deliver sustainable financial performance. Baptist Health System attributes much of their revenue improvements to MedeAnalytics, thanks to the reduction of KPIs and the enhanced management of receivables, which were vital components for the organization’s award recognition.
According to Janice Ridling of Baptist Health System, “MedeAnalytics was a primary factor in our success with our Epic conversion, and we continue to find new and innovative ways to analyze our data.”
Read the full Baptist Health System case study and additional results here.
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