Covid-19 Revenue Cycle Response And Strategies - Aaham
4/14/2020COVID-19 REVENUE CYCLE RESPONSEAND STRATEGIESPresented to: American Association of Healthcare Administrative ManagementApril 15, 2020CohnReznick LLP11
4/14/2020TODAY’S SPEAKERCaroline Znaniec is a Managing Director in Healthcare Advisory atCohnReznick LLP. Caroline has 24 years of combined industry andconsulting experience within the healthcare revenue cycle. She is arecognized industry speaker and author in such areas as coding anddocumentation, charge description master (CDM), charge capture,pricing, governance, technology, revenue integrity, compliance andrevenue cycle transformation.Caroline can be reached at Caroline.Znaniec@CohnReznick.comMore COVID-19 Insight can be found e-center222
4/14/2020WEBINAR OBJECTIVESThis webinar will provide an understanding of the disruptions in the healthcare revenue cycle due toCOVID-19. At the completion of this session, you will gain a better understanding of how crises, such asthe COVID-19 pandemic, can be best approached to maintain the health of the revenue cycle. Strategiesfor prioritizing work efforts, managing remote capabilities and staffing, communicating opportunities,identifying new risks and opportunities will be provided.Learn specifics on: Understanding the impact of COVID-19 on the revenue cycle Identifying practical strategies for managing the people and business of the revenue cycle Implementing strategies for managing the revenue cycle during a pandemic or other potential crisis333
4/14/2020POLLING QUESTION 1What type of provider organization do you represent?A.B.C.D.E.HospitalHealth SystemPhysician GroupPost-AcuteOther444
4/14/2020UNDERSTANDING THE REVENUE CYCLE Edit ReviewClaim ProcessingDenials ReviewCash PostingCollectionAuditBackFront Middle Documentation and CodingUtilization ReviewCharge CapturePricing/Contracts555
4/14/2020REVENUE CYCLE INTERDEPENDENCEDefining Interdependence Stakeholders and stakeholder processes are mutually reliant on each other Trust is maintained to also provide for stakeholder independence Support is given to other stakeholders for the benefit of allInterdependence Strategies Encourages StakeholdersPromotes Critical ThinkingProvides for a Variety of InsightsDecreases Stress and AnxietyIncreases Productivity and Improves ResultsImproves Stakeholder and Staff Retention666
4/14/2020POLLING QUESTION 2Would strongly would you agree that your organization, prior to thepandemic, had an interdependent strategy or culture?A.B.C.D.E.Strongly Agree – our stakeholders work seamlessly together and communicate regularlyAgree – our stakeholders have defined roles and meet somewhat regularlySomewhat Agree – our stakeholders make it work and meet as neededDisagree – we work in silos and lack communicationNot Applicable777
4/14/2020INTERDEPENDENCE IN TIMES OF CRISIS888
4/14/2020REVENUE CYCLE PERFORMANCE KPIS, IN CRISISFront Medical Necessity Check Rate Point of Service Payment Eligibility/Verification RateMiddle CDM Maintenance Turnaround Coder Productivity/Backlog Query Statistics Late ChargesEnd Bill Hold/DNSP Clean Claim Rate Biller Productivity Claim Editing Corrections Account Aging999
REVENUE CYCLESTAKEHOLDERMIDDLECoder Productivity/BacklogFRONTBetter PracticeKPIInpatient 24/dayOutpatient 40/dayEmergency 120/dayAncillaries 240/dayCoder Productivity/BacklogQuery StatisticsTranscription TurnaroundXXXXClaim DenialsXXOverall Cost to CollectAccount AgingClaim Rejection TurnaroundNet Days in A/RClaim Editing CorrectionsXClean Claim RateLate ChargesBill Hold/DNSPBiller ProductivityBACKCharge Description (CDM)File MaintenanceXMIDDLERegistration Error RatePoint of Service CollectionsPoint of Service PaymentRequestEligibility/ InsuranceVerification RatePre-Registration RateMedical Necessity Check Rate4/14/2020TROUBLESHOOTING KPIS, IN CRISIS - EXAMPLEINTERDEPENDENCE TO OTHER METRICSSOURCE: CohnReznick LLP Healthcare Advisory Revenue Cycle KPI Interdependence Table101010
4/14/2020POLLING QUESTION 3Has your organization developed and provided clear strategies foraddressing the health of the revenue cycle?A.B.C.D.YesNoUnknownNot Applicable111111
4/14/2020REVENUE CYCLE MANAGEMENT STRATEGIES, IN CRISISPrioritizing Work EffortsManaging RemoteCapabilities and StaffNew Risks andOpportunitiesCommunicating Change121212
4/14/2020REVENUE CYCLE MANAGEMENT STRATEGIES, IN CRISIS131313
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4/14/2020REVENUE CYCLE MANAGEMENT STRATEGIES, IN CRISIS161616
4/14/2020KEY TAKEAWAYS171717
4/14/2020QUESTIONS181818
COVID-19 REVENUE CYCLE RESPONSE AND STRATEGIES Presented to: American Association of Healthcare Administrative Management April 15, 2020 1. 4/14/2020 2 2 . REVENUE CYCLE STAKEHOLDER Better Practice KPI INTERDEPENDENCE TO OTHER METRICS SOURCE: CohnReznick LLP Healthcare Advisory Revenue Cycle KPI Interdependence Table 10. 4/14/2020 11 11
Strategies to Optimize Your Pharmacy Revenue Cycle 9/2/2020 5 Presentation Outline 1. Optimal Revenue Cycle Management Program 1. Creating a case for a revenue cycle program 2. Revenue cycle program structure 3. Involving pharmacist leadership 4. Put a revenue cycle program to practice 2. Revenue Improvement and Preservation Strategies 1.
Revenue Cycle team Revenue Cycle Management Presented by: Kimberly Moore Director, Health Care Revenue Cycle Consulting 701.239.8673 . Cash Collection as a % of Adjusted net Patient Service Revenue: Indicator to accurately report effectiveness for converting Patient Service Revenue into
REVENUE CYCLE SOLUTIONS To request a custom scorecard for your facility, or to learn more, contact us today at: RCSAnalytics@AMNHealthcare.com AMNH1010023 rev 10-20 About AMN Healthcare Revenue Cycle Solutions AMN Healthcare Revenue Cycle Solutions is the industry's most experienced mid-revenue cycle provider. We use business intelligence
A successful revenue cycle is a complex process which involves multiple areas of your organization requiring constant interaction. THE REVENUE CYCLE. . Discharged Not Final Billed -DNFB 5 days of average daily revenue: Credit Balances 1 day of daily revenue: Denial Write-Offs 1% of monthly net revenue: Point of Service Collections
RFP - H21-0026, Revenue Cycle Service Provider H21-0026, Revenue Cycle Service Provider Page 5 of 16 4. Scope of Services CCH seeks to identify a competitive and qualified contractor to provide end-to-end revenue cycle services and detail reporting on performance and outcomes. This service will provide additional support in all areas of revenue .
Overview of the Revenue Cycle 4 The Healthcare Financial Management Association (HFMA) defines a revenue cycle as "All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue." 1 The Revenue Cycle begins with Medical Record / Encounter creation, and ends with Collection / Write-off.
contribute to the capture, management, and collection of patient service revenue. November 19, 2021 4. Revenue Cycle Management and RevenueCalculations PwC. Question #1. . There are many revenue cycle touch points along the patient journey including pre-service and post service touch points. The is key influencer on a
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