Troy Schlappich’s Post

Revenue cycle is a critical part of the patient journey for the provider. It's not just about spend, but about the top-line health of the hospital and performance management.

Revenue cycle is about more than just costs; it's about patient experience too. Here are opportunities for healthcare organizations to boost their bottom line and consumer outreach.

Revenue cycle is about more than just costs; it's about patient experience too. Here are opportunities for healthcare organizations to boost their bottom line and consumer outreach.

Another great article in Healthcare IT Today on The Challenges and Opportunities of Evolving Revenue Cycle Management Practices to Align with New Payment Models. Our very own Thomas Thatapudi at AGS Health discusses his view on this topic. Article link below: https://lnkd.in/eUhNGEDF #hcit #rcm #revenuecyclemanagement

Here are some tips to capitalize on often-overlooked revenue opportunities in the revenue cycle. The philosophy I’ve upheld for years is that the best way to handle denials is to prevent them. This means a granular analysis of your entire RCM workflow. While the focus is often on the backend - submitting claims and addressing denials as they arise - the genesis of a robust RCM process begins much earlier. From scheduling and registration to upfront payment collections and eligibility checks, each step of patient access plays a crucial role in ensuring revenue integrity. Since these front-end processes encompass payment estimations, prior authorizations, and understanding patient financial responsibilities, optimizations here set the stage for a seamless RCM flow, mitigating denials before they happen. Also integral to success are what I term ‘smart ‘edits.’ These are tailored adjustments made to the RCM process, informed by root cause analyses. Root causes are difficult to identify, and organizations often spend countless resources to reveal them. Utilizing this effort to place “smart edits” strategically where they can mitigate errors in the RCM workflow is a diligent exercise in leveraging denials to go to work for you. Though it seems like common sense for organizations to swiftly act on these insights, I notice that past errors are often repeated, and RCM processes tend to change slowly, if at all. Whether it’s patient access operations or actionable data being neglected by a healthcare organization, the bottom line suffers greatly. Where do you start when searching for missed revenue opportunities in the healthcare provider space? #rcm #healthcarerevenue #healthcarefinance #healthcareoperations

How Healthy is Your Billing Process? Take our FREE Billing Health Check and uncover hidden inefficiencies, identify revenue opportunities, and get your personalized Billing Health Score. It’s quick, easy, and only takes 5 minutes! Plus, you’ll receive actionable insights to help optimize your revenue cycle management. Don’t leave money on the table—start your check-up today! #BillingHealth #RCM #HealthcareFinance #RevenueOptimization #MedicalPracticeManagement https://lnkd.in/gEjpCw35

💡 Revenue Cycle Management: More Than Just Numbers 📊 Key insights from Vizient's Pooja Solanki: Revenue cycle = 3% of hospital indirect spend, but critical for patient experience Post-pandemic challenges: labor shortages, cash flow issues Automation and outsourcing can boost efficiency Focus on performance, not just cost reduction Quick wins: Maximize point-of-service collections Streamline insurance verification Improve coding speed and quality 🔑 Takeaway: Revenue cycle is a vital part of the patient journey, impacting both financial health and consumer satisfaction. How is your organization optimizing its revenue cycle management? #HealthcareFinance #RevenueManagement #PatientExperience #HealthcareTech #OperationalEfficiency

Did you know that practices with effective Revenue Cycle Management systems not only save up to 15% of their total costs, but also experience a faster billing and collections process, solving one of the #1 needs expressed by patients? Sounds like a win-win to us! Click here to read more of our research on the effect that a robust RCM solution has on your #patientexperience and the overall health of your business: https://hubs.li/Q02vd8vh0

Is your revenue cycle management (RCM) system causing headaches?  Are delays, denials, and inefficient workflows costing you money? You're not alone. Many healthcare providers face these challenges, impacting their cash flow and bottom line. But there's a solution!  Join our FREE webinar and learn how to streamline your RCM process for faster reimbursements and increased cash flow. Our RCM specialist, ANSHULI KAUSHIK, will share her insights on reducing denials and improving claim accuracy. Take advantage of this opportunity to get paid what you deserve, faster! Click on https://lnkd.in/g7wvuVGA and Save your seat for the webinar! #webinar #revenuecyclemanagement #healthcareindustry #healthcarerevenuecyclemananagement #RCM

Are Your RCM Practices Costing You? Missteps in the RCM process can have serious repercussions. Effectively navigating Revenue Cycle Management is crucial for maintaining your healthcare organization's financial health. Want to know what common pitfalls you should avoid? I've put together a carousel with insights on 5 critical RCM errors that could be hurting your operations. Slide through the carousel to learn more! Michael Burkhold Annette Fox Aric Coffman MD, MBA #RCM #RevenueCycleManagement #HealthcaLet'sance #MedicalBilling #HealthcareAdministration #ClaimManagement