Revenue Cycle Assessment
HEI Revenue Cycle Assessment
As provider organizations transition from fee-for-service reimbursement to value-based care including population health initiatives, bundled payments, and risk-bearing contracts, the focus on financial performance has never been greater. An assessment of the revenue cycle, encompassing all operational components, is essential to understand where provider organizations are performing well and where opportunity remains. After an HEI revenue cycle assessment, the leadership will be able to answer these questions:
- Compared to top performers, how much additional money remains in the revenue cycle?
- Which areas are performing well and which are not?
- Is the existing technology being utilized to its fullest capability?
- What are the savings associated with removing waste and inefficiencies from current operations by standardizing organizational structure, job functions, and processes?
- What is the organization’s overall quality of workmanship in the revenue cycle?
- Is the organization culturally and operationally prepared for success under alternative, value-based reimbursement methods?
The assessment covers six main areas of the revenue cycle: Pre-Registration and Scheduling, Patient Access, HIM, Case Management, Revenue Integrity, and PFS/Business Office.