A recurring theme here on our blog is discussing the powerful effects a culture of analytics can have on hospitals and health systems. In this post, see how Wise Health System used MedeAnalytics solutions to cultivate this type of culture – leading to improved revenue cycle management and enhanced customer care.
Large, Texas-based organization Wise Health System was looking out at massive chasms between various operations strategies, multiple IT systems, and disconnected processes and people. Rather than continue to execute a piecemeal approach to decision-making, Wise aspired to build a culture driven by data and analytics.
In doing so, Wise leadership hoped to empower their staff to accomplish significant clinical quality improvement, enhance work flow and collaboration between and within financial and clinical teams, integrate technology more effectively, and improve clinical documentation practices.
With MedeAnalytics Revenue Cycle Management, Wise Health System created efficiencies in patient access, mid-cycle processes, and business office functions. These improvements included:
- Real-time analytics to improve point-of-service collections
- Opportunities to improve revenue capture, minimize audit risk and succeed with ICD-10
- Identification of black holes, bottleneck and outliers to improve cash flow and collections
- Self-service dashboards and reports providing visibility into A/R and denials
These meaningful shifts brought about remarkable operational value and clinical outcomes. Beyond that, a shared source of data and insights allowed various teams and sites of care to work together more seamlessly for the benefit of the patient.
- 34.7% Increase in Case Mix Index
- 11% Improvement in Patient Satisfaction Scores
- 26% Reduction in readmission rates for heart failure
- 129.2% Improvement in CC/MCC Capture Rate
“The analytics and insights-driven collaborative culture has enabled us to grow, evolve and make Wise Health System a great place to work.” – Lynn Giddens-Branscum, Vice President of Revenue Cycle Management and Audits
Get our take on industry trends
10 Strategies for Engaging Providers in Data Dashboards
Payer organizations should be dialed in on data engagement as a key indicator of financial sustainability, successful care delivery, and…Read on...
4 tactics to harness data analytics for patient access engagement and efficiency
As healthcare consumers and regulatory bodies push for more transparency in medical services and transactions, provider organizations are applying greater…Read on...
Proactively predicting ER visit trends with augmented analytics to improve revenues, asset utilization and patient outcomes
Mission critical emergency departments (EDs) are the most valuable revenue generating asset for hospitals. While visits decreased during the pandemic,…Read on...
Conversations at HIMSS23
HIMSS23 was nothing short of outstanding. I was thrilled to see the familiar faces of colleagues and clients, mingle with…Read on...