The healthcare revenue cycle is complex and interconnected. A few flawed processes can weaken the entire reimbursement chain and lead to poor financial results. Fortunately, this also represents an opportunity. Optimizing business office processes, payer relationships, patient flow and information system configuration can bring about exceptional gains in both cash flow and net revenue. This is especially important as organizational structures, reporting requirements, and reimbursement methods are changing to accommodate the new realities of the healthcare system. GE Healthcare Camden Group has a long history of helping medical groups and hospitals achieve dramatic and long-lasting improvements in revenue cycle performance. Our team of revenue cycle experts can:
- Measure the financial turnaround opportunity and develop detailed implementation plans to realize the benefits.
- Redesign business operations for optimal revenue cycle outcomes.
- Create financial and operational dashboard reports that support data-rich decision making.
- Review payer agreements and fee schedules to identify contract management opportunities.
- Assess information system needs and refine operations to support full IT functionality.
- Improve charge capture, reduce denials, decrease days in receivable, improve net collections and increase net revenue.
- Provide interim practice management, as needed, to guide an organizational transition and consolidate operational improvements.