With stimulus checks in hand and vaccinations on the rise, economists are anticipating a boost in spending that could have us back to “normal” in no time— some are even predicting better than normal. The United States saw a first-quarter growth rate of over 6% this year and the second quarter is expected to top 10% which would put us on route to an economy we haven’t seen the likes of since 1984. Additionally, experts are predicting that a waning pandemic will mean a booming job market as well. All of this is excellent news, especially for health systems and physician groups who have taken the brunt of the financial devastation caused by COVID-19. Our self-pay early out service, Ensource, is now offering Revenue Cycle Consulting.
With a revenue cycle that’s about to come revving back to life, there has never been a better time to give it that much-needed tune-up.
In order to ensure your organization can get back on track and capitalize on the coming surge that promises to relieve the strain on the revenue cycle created by the pandemic, care must be taken to optimize your existing systems and processes, as well as boost efficiency. With so many other aspects of operations to juggle, it can be difficult to know where to start. That’s where an experienced revenue cycle consultant from Ensource can help.
Ensource’s consulting services take a strategic approach to assessing revenue cycle operations and provide you with a detailed overview that includes options for making improvements based on time, cost, and ROI.
Ensource’s Revenue Cycle Consulting Program includes:
Revenue Cycle Management Assessment
- System optimization analysis
- Process flow improvement
- EMR consolidation and cleanup
- Chargemaster evaluation
- Workflow optimization
- Denial & Insurance Follow-up
- Legacy A/R planning and management
- Billing edit and claim review
Internal Resources Assessment
- Performance/Productivity assessments
- Business office standardization
- Training and morale
Strategic Process Improvement
- Denial prevention
- Automated contracting
- Reimbursement evaluation
- Remittance to Cash posting assessment
Patient Experience Assessment
- Patient access
- Digital-first implementation
- Quality service assessment
With an informed assessment of your revenue cycle operations, you have a guideline for making strategic improvements, focusing on the pain points that are unique to your organization— saving time and resources by tackling the issues that will yield the biggest returns. This calculated approach also allows for incremental changes that won’t overwhelm or over-burden your in-house team.
A finely-tuned revenue cycle results in more than higher profitability, it provides a better patient billing experience and opportunities to focus on improving patient outcomes which will allow you to turn the COVID-economy bounce back into long-term success by establishing strong patient relationships.
Schedule a complimentary consultation with an Ensource Revenue Cycle Consultant today.