Success Story: How UF Health tackled analytics challenges to improve revenue cycle efficiency
A significant amount of waste and financial loss within healthcare organizations can be attributed to inefficiencies within daily processes and programs. Realizing room for increased productivity within their revenue cycle management, University of Florida (UF) Health partnered with MedeAnalytics to catalyze change.
Two not-for-profit hospitals – UF Health Leesburg and UF Health The Villages – were renowned for their clinical procedures and outcomes, but struggled with unacceptably high denial rates, unreliable analytics and reporting, and very time-consuming A/R recovery processes.
MedeAnalytics’ actionable, insights-driven and user-friendly revenue management platform catalyzed significant improvements in analytics and reporting capabilities, including:
- Real-time insights into important RCM opportunities
- Accelerated A/R recovery
- Clear A/R and denials trends, drill downs and causal analyses
- Proactive monitoring and optimization of A/R and denials
UF Health management also gained visibility into staff productivity and efficiency, as well as access to role-based, actionable reports and dashboards (enabling quick decision-making).
- 23% Reduction in Overall Avg Aging A/R
- 34% Increase in Average # of Accounts Worked
- 38% Increase in Overall Monthly A/R Recovery
- 100% Reduction in Write-offs as % of Net Patient Revenue
“MedeAnalytics’ self-service Revenue Cycle Management (RCM) offered the valuable tools and capabilities we needed to start making meaningful change. In less than six months, we saw significant advancements in A/R recovery, reduction in denials, and gains in revenue cycle staff productivity.”
– Leanzy Bailey, Corporate Manager of Denials and Audits