True Partnership and Teamwork are Key to Increased Revenue and Improving Customer Satisfaction with Revenue Cycle Services
A top provider of information solutions and revenue cycle management services in the outpatient space was facing substantial loss of revenue stemming from workflow-related problems with their offshore revenue cycle partner. Management of the workflow was inconsistent with little communication between departments. “Things” were falling through the cracks, most notably, revenue. During a time of rebuilding and renewed emphasis on customer satisfaction, these issues had to be resolved. However, the customer’s leadership team was understandably hesitant to consider another offshore partner.
Issues leading to revenue loss:
- Departments were working independently instead of as a cohesive unit
- Workflow not well defined and ambiguous
- Management tool did not support the workflow neede
Clearly define the revenue cycle workflow to increase revenue.
Access Healthcare’s revenue cycle experts first set to work defining the workflow and understanding the customer’s business from top to bottom. The ambiguity of the workflow caused some challenges, but a fully customized solution emerged leveraging Access Healthcare’s best practices engine, the arc.in workflow management platform, and a needs-based compliment of services. The customer’s 35 clinics were segmented into regions, each clinic receiving a single team to manage workflow from start to finish. Issues involving communication between, for example, AR and Denial Management are resolved in mere minutes eliminating those proverbial cracks.
In an effort to demonstrate true partnership, Access Healthcare aligned incentives by participating in a revenue sharing model. As a result, the customer achieved their highest collection rate… ever. Additionally, customer satisfaction is at an all-time high.
- Days to Bill – 26% reduction
- Credit balance – 16% reduction
- AR > 90 – 13% reduction
- Collections – 26% improvement ($1.5 million improvement)
Are your results demonstrating that you are meeting your goals?
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