Guidehouse's Timothy Kinney on Ensuring Accurate Charge Capture and Improving Revenue Integrity, via Becker's Hospital Review
Health systems commonly inherit a complex array of IT platforms within their various facilities and subsidiary organizations. This discrepancy across the care continuum often leaves leadership seeking ways to create greater alignment for patients. In 2012, a Midwest-based health system began an 18-month journey to replace their revenue cycle platform with goals of moving toward a consistent registration process, single patient statement, and closer integration of systems – all key components of the patient experience.
To improve consistency across each step of financially securing a patient’s visit, the physician practices and hospital revenue cycle team worked collectively to create a single front-end and back-end process, and to mitigate the risk of revenue losses inherent in major revenue cycle conversions.
After the new system went live, the health system returned to baseline charge performance in 14 days. The team drove CFB to under six days (5.9) within 90 days after go-live, while decreasing the historical CFB aging of >45 days to under one day (0.57). The laser focus on getting clean claims out the door ensured minimal disruption to the billing cycle and minimized loss of net reimbursement.