In any process as complex as revenue cycle (RC) management, correcting problems is equally complex – there’s no quick-fix solution. Relying on an out-of-the-box IT solution to fix RCs and improve collections will deliver minor results. Instead, fixing an RC requires insight and the correct balance of technology solutions and human capital deployment.
Stout’s professionals recently reviewed an RC for a client that had, as a large portion of their business, typical fee-for-service billing. The system, comprising more than 50 clinics and 400 providers, was spread over a large metropolitan area and generated hundreds of millions of dollars per year.
After presenting a thorough assessment to the client, which included data review, interviews, and site visits, we were engaged to remedy systematic issues and help rebuild the RC. Over the course of a year, our team of professionals took the necessary steps that resulted in not only a successful outcome, but a trusting relationship with the client.
In this case study, we discuss our experience in working with this client to identify issues plaguing its RC, provide examples on how we enabled our client to understand their market situation and to clearly visualize the steps to RC improvement, and the action items taken that led to delivering a 15-to-1 return on their initial investment.
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