Monitor these metrics to find revenue leaks

#5in5_Blog_BannerTracking, explaining and plugging gaps in your revenue cycle is tough enough without the added challenge of practice acquisitions and mergers.

Joining two systems means standardizing and streamlining policies that may differ greatly from each other.

As consolidation work takes place, health systems can pay close attention to certain metrics to help identify revenue leaks.

We recommend looking at metrics that highlight physician productivity, aged receivables, and payments per relative value unit.

The goal is really to find those levers that health systems can use to drive change financially within the organization.

So ask yourself: Do my doctors need to see more patients? Are services being paid timely and accurately? Are we leaving money on the table?

For a look at additional challenges and opportunities related to the trend toward consolidation, take five minutes to listen to the latest #5in5 episode Growth through acquisition: Meet the demands.

 

About the Author:

TGatchel headshot100Teri Gatchel, MBA, CPC,   brings over 24 years of experience in the health care industry as a practice administrator, operational, and revenue cycle optimization consultant to large health systems and physician organizations.  Ms. Gatchel has worked extensively with health care systems to enhance their financial performance in academic and physician ambulatory based settings.   As VP of Consulting, she leads engagements that deliver value-based solutions to help health systems reach their performance and financial goals.  Her extensive hands-on knowledge of the front and back office processes of the physician organization gives her the ability to identify workflow redesign and overall performance improvement opportunities with an eye towards financial improvement and increased efficiency.

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