Presented for MCOL by Nancy Chapman Superior Consultant Company, Inc. Nancy_Chapman@superiorconsultant.com. Financial Performance and Operations Improvement: Integrating Revenue Cycle Improvement and Clinical Process Change to Accomplish Greater Financial Results.
Presented for MCOL by Nancy Chapman
Superior Consultant Company, Inc.
Financial Performance and Operations Improvement:Integrating Revenue Cycle Improvement and Clinical Process Change to Accomplish Greater Financial Results
Adding the horizontal viewpoint to identify systemic opportunities for financial and operations improvement
Defining Potential Improvements:the Opportunity Evaluation Process
Financial Performance and Operations Improvement are goals for every process and department in the organization. The traditional, vertical focus of revenue cycle improvement falls short of exploiting all possible opportunities for financial improvement and positive change. When the horizontal focus is added, exponential results can be achieved.
Prior To Services
* Discharge Not Final Billed ** Clinical Documentation Management Program
It is no longer sufficient to describe potential improvements – today’s buyers need quantifiable targets and benchmarks to measure accomplishments and sustain progress
Quantifying Potential Improvements:the Opportunity Evaluation Process
Value Proposition – Sample Hospital $(000)
Note: This estimate of revenue improvement is based upon information believed to be reliable, however, the estimate is provided for discussion purposes only and is subject to material and substantial changes. Additional validation and confirmation of the major assumptions and related revenue potential will be required.
While information systems have been expected to solve problems for years, the buying market largely missed the boat regarding the critical need to change operations and processes that new technologies could support. This phenomena is changing rapidly and returns on investments are being realized.
Financial Performance, Operations Improvement and the Technology Connection
Back-end process improvement
System calculation of allowances
Verify of automated edits
System notes and reminders
Electronic billing folders
Electronic posting/remittance processing
Technology Enabled Redesign
LEVEL OF TECHNOLOGY ADOPTED
The value statement
Key Results Of The Opportunity Evaluation Process:Improved Definition of Prioritized Tasks, Project Teams and Achievable Budgets
Summary Questions and Answers