Hospitals and health systems seek partnerships that provide solutions to improve revenue integrity. A partner that fosters client success is essential and allows you to manage your revenue cycle more effectively, creating a decreased time-to-money ratio. A sense of urgency, root cause analysis, subject matter expertise, open and consistent communication, and frequent reporting are all factors to consider when seeking out a revenue integrity partner.
A Sense Urgency
Working with a sense of urgency should always be the goal of your revenue integrity partner. Timely filing and decreased time-to-money opportunities are two key metrics that indicate how to work efficiently. A revenue integrity partner who knows how to prioritize your organization’s specific needs isn’t just something nice to have; it’s necessary.
Root Cause Analysis
The best way to reduce denials from occurring is prevention from the start. A strong revenue integrity partner can effectively recommend and implement best practices related to root cause analysis and process improvements. Practical analysis ensures a greater rate of client success and allows for denials prevention. We believe that allocating the necessary time and resources to root cause analysis saves time and money in the long run.
Subject Matter Experts
Subject matter experts (SMEs) are invaluable assets to every team. Clients are setting themselves up for success when a partner employs SMEs in appropriate areas. Not all revenue integrity partners have SMEs that can provide guidance, and it can be a characteristic that significantly improves your success rates. Since SMEs know the ins and outs of specialized subjects, you can be confident that you receive the most accurate information.
Transparent, continuous communication is a critical key for success. Consider how your team can incorporate weekly, monthly, and quarterly meetings. Who needs to be at each session, and what are the goals? Consistent communication is a leading factor in efficient and functional client relationships. Keeping an open communication line with the clinical and operational staff further ensures a more unified discourse process.
Predetermined goals and mutually agreed-upon revenue cycle KPIs are imperative to monitoring client success. Helpful reports include consistently updated KPI status reports, executive summaries, and on-trend reports; combining all three is a great way to stay accountable and reach your goal points.
When considering engaging a revenue integrity partner, a partner that cares about client success is an enormous asset. At Advent Health Partners, our goal is to narrow time to revenue while minimizing denials for our clients. Alongside prioritizing our client’s needs, completing root causes analysis, employing SMEs, fostering open communication, and establishing success metrics, our team of experts is committed to client success processes.
To learn more about how we can customize our services to meet your organization’s claim rates and reimbursement needs, reach out to us to schedule a quick consultation.