Revenue Cycle Assessment
There are multiple drivers of decreased revenue in healthcare today. And despite the decline in resources, you are being asked to do more with less. Understanding your revenue cycle and identifying the opportunities where you can gain efficiencies, recover revenue and better manage your margins has reached a critical point.
If you are like most healthcare organizations, you may decide to undergo a revenue cycle assessment when there are management changes, a new practice management system implementation, staffing adjustments, workflow augmentations or system and technology conversions. Sometimes it’s because you know that something’s not working and you need to identify it.
Over more than two decades, Hayes has conducted numerous revenue cycle assessments, and while each assessment is different, our methodology is consistent and proven. Each focused assessment provides a comprehensive analysis of your technology, processes, data and staff. And while our methodology provides the necessary stable foundation, it’s worth noting that each assessment is customized based on your distinct business needs, priorities and organization. So, you get the best of both worlds, stability and agility.
Our revenue cycle team offers three assessment options:
- Rapid Assessment includes management interviews, benchmarking, opportunity identification, high-impact recommendations, and a technology utilization overview.
- Deeper Dive adds operational interviews and observation, extended benchmarking, detailed technology/system analysis (setup), and further recommendations.
- Focused Assessment provides recommendations in specific areas, such as the charge capture process, charge master setup, or billing components.
We are different from our competitors in that we believe in complete transparency. As part of our assessments, each of our clients receives a Performance Improvement Roadmap, which is a categorization of our recommendations based on level of impact, effort and cost. The Roadmap allows clients to easily determine which recommendations to implement first (high impact, low cost, low effort), which can be implemented internally, as well as those that require additional implementation support.