Optimize Your Revenue Cycle
5 steps to boost productivity
5 steps to boost productivity
Facing pressures on margins and reimbursement rates, U.S. healthcare organizations are redoubling their efforts to optimize their revenue cycles. But many obstacles stand in their way, including:
Based on our decades of partnership with hundreds of organizations, we believe the following five steps are the best path to optimizing your revenue cycle results.
Set your baselines: Take an objective look at your productivity statistics and performance. Get granular with time and motion studies. This will ensure you begin with an accurate baseline.
Audit your technology: Look across all of your revenue cycle systems. Are they the right ones? Are you maximizing their value? Is there redundancy? Is your staff fully trained on the systems they need to use? Is your reporting integrated, accurate, actionable, and timely?
Benchmark and set goals: With your data and technology information in hand, it’s time to set your goals. Set them in context by benchmarking your performance against organizations similar to yours. Prioritize the issues having the largest impact on your productivity.
Maximize automation: Automate anything you can. Clearly document manual processes to ensure staff productivity and accountability.
Measure and adjust: Leverage available analytics to evolve your goals, technology, and staffing as your needs change.
Want to dig deeper into these productivity best practices? Check out our webinar, produced in partnership with Becker’s Healthcare >
Every day, healthcare organizations turn to us to find their revenue cycle gaps and inefficiencies, solve them, and put technologies and strategies in place for long-term success. We achieve these objectives for our customers through…