Challenge
Senior leadership at a financially troubled site required revenue cycle and healthcare systems expertise to help improve financial performance. The site was unable to locate experts who could both communicate candidly in addition to provide the necessary expertise to provide solutions.
Approach
- Hired by the CFO to support and drive leadership’s vision to improve various revenue cycle and operational metrics
- Partnered with the Director of Revenue Cycle and Access to provide guidance and solutions to help positively impact operations
- Placed company resources onsite to develop relationships with key team members and to understand specific challenges
- Conducted weekly billing SWAT team focus groups
- Supported outsourcing of entire billing office to 3rd party vendor
Impact
Perceptive Healthcare decreased site DNFB by 60% or $28 million, over the first 90 days. We improved the site Days Outstanding by 45 days through by solving numerous billing errors and coding challenges. Extended services throughout various mergers and continued relationships with 4 CIOS.