MDapproach™ to Improve Your Revenue Cycle
MDapproach™ is Hayes'Multi-Dimensional approach used to assess optimization opportunities at all stages of the revenue cycle. Combined with Hayes' revenue cycle expertise,MDapproach provides clients with actionable strategies to improve their revenue cycle, operations, key performance indicators (KPIs) and ultimately, the bottom line.
Questions answered
To manage the revenue cycle well, you need to know answers to questions
such as:
- Is your organization leaving money on the table?
- Where can you improve the patient experience? Bottom line?
- Are providers coding and documenting correctly? Are your avoidable denials too high?
- Is your staff adequately trained for their roles? Do your processes align with your systems, regulations and people?
- How can you leverage technology to free up resources for other initiatives?
- How can you best balance the needs of competing priorities?
- How can you measure, monitor and report on your revenue cycle?
MDapproach leverages the interdependencies of the entire revenue cycle to identify opportunities for lasting improvements.
We have categorized the revenue cycle into three interdependent areas:
- Patient access
- Clinical workflow
- Receivables management
Through a series of interviews, proprietary tools and analysis, we assess:
- Patient access activities, critical to capturing accurate patient demographic, insurance information, referrals and authorizations, collection of point-of-service payments, charge capture, etc.
- Clinical processes that support workflows, coding and documentation
- Receivables management activities, key to timely and accurate claim submission, effective denial management and patient communication
- Technology and systems that support the revenue cycle
- Analytics required to be successful
Hayes works with clients in a participatory manner throughout the engagement to develop solutions that will work in their unique cultures and environments. At the end of the engagement, we deliver findings and prioritized recommendations. The client can then perform the work internally or ask Hayes to assist.
Learn more
If you have concerns about your revenue cycle, or are unsure whether your processes are performing optimally, enlist Hayes' revenue cycle experts. Call us at 617-559-0404 or email us at info@hayesmanagement.com.
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