This month, Brookwood Baptist Health (Brookwood) and MedeAnalytics sat down with Kristen Lee of SearchHealth IT for a two-part series focused on revenue cycle challenges and successes. Brookwood leveraged MedeAnalytics Business Office solution to pinpoint trends, analyze root causes and ease their transition to a new Electronic Health Record (EHR) to meet the demands of population health and value-based reimbursement.
The first part of the series, Revenue Cycle data analytics helps with value-based reimbursement, MACRA, highlights insights from Rosh Plugge, executive director of revenue cycle at Brookwood. To prepare for the impacts of MACRA, Plugge underscored the important role that analytics will play in tracking some of the unforeseeable changes in how they do business. He said analytics will “really give us the ability to pull whatever type of information is relevant to demonstrating that we’ve met the requirements to achieve those bonuses [and] payments from the payer.” Like any major system change, such as the recent ICD-10 transition, it is important to have the ability to monitor performance on a trended basis very quickly after those changes are made. This ensures that an organization can course-correct in real-time and limits the potential financial or productivity losses that would otherwise occur.
In the second part of the series, Cloud-based software boosts revenue cycle management, eases EHR switch, Lee spoke with Pete Welch, senior revenue cycle analyst at Brookwood, along with both Tom Schaal, director of product management, and Dena Moye, subject matter expert/product strategy, at MedeAnalytics. The piece highlights how Brookwood leveraged MedeAnalytics to better understand their revenue cycle operations to gain deep insights into payer trends, patient satisfaction, relieve pressure on IT-teams and create timely ad-hoc reports.
Welch said, “When somebody, say a CFO, spots a trend and they think [it] looks odd, we’re able to pretty quickly produce several reports that look at what might be causing that.” MedeAnalytics empowers Welch and his team with the ability to drill into the reports and look at the details underneath. He can look at the accounts that are causing fluctuations and, most of the time, this enables the revenue cycle team to respond to the CFO within the same day. Without the appropriate analytics in place, the reporting times could easily extend to a month if not more.
Check out the two-part series here and here. For more information on how MedeAnalytics Business Office can help your healthcare organization – click here.
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