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Hayes Review: Summer 2009

Note from Pete

By Pete Butler

Pete ButlerWelcome to our summer newsletter (although it’s approximately 50 degrees in Boston).  In my client travels over the past few months (California was much warmer), I continue to hear this question: “How much money are we leaving on the table and how can we operate more cost effectively?”  I tell them and you that there are several “quick hit” opportunities for making business process or operational changes that result in real ROI in the short run.  Here are some examples of “Hayes’ Quick Hits”:

  • With our EDIminer™ software tool, we have been able to help our clients quickly target avoidable denials, fix the operational functions causing those denials and positively impact the cash flow.  One of our clients was certain that they had discovered all avoidable denials; and indeed, they did run a tight ship. However, with EDIminer’s capabilities to drill down further, we found more than $1.4M in avoidable denials in services billed over a two month period.
  • Our revenue and patient access cycle assessment methodology, MDapproach™ has helped clients automate much of the manual operational tasks. Most organizations “mean to” optimize their systems, but for a variety of reasons, have not. We have found a surprising amount of revenue opportunities in functionality that was simply underutilized.
  • My last example has to do with interfaces. Some of our clients have cut their interface maintenance and labor costs in half when we helped them consolidate their existing interfaces with our Interface Simplification Assessment.

Just when our clients think they’ve exhausted all their revenue gaining and expense reduction opportunities, we find more.  In our experience, there are always plenty of ways to make the business of healthcare more efficient and improve the bottom line.  You probably know intuitively where you could reduce costs, but just need the data, cultural support and resources to prove it and make the necessary changes.  Ask yourself honestly, “What can I do today to positively enhance business operations?”  If you find yourself scratching your head, or if you come up with ideas but have resource issues, call us.  We can show you a path to success with a major return on your investment in our services.

I look forward to hearing from you soon.

Pete Butler

 

 

 

 

 

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