LOUISVILLE, Ky., December 1, 2021 (Newswire.com) - As healthcare systems continue to acquire and grow employed provider networks, they must also continue to invest in operational and cultural resources at their hospitals. HSG, a national healthcare consultancy with expertise in strategic planning as well as employed medical group performance improvement, has published a case study that reveals how conducting an ambulatory revenue cycle assessment can support organizational growth. Without sufficient infrastructure and without a culture that aligns communications throughout the system, many healthcare organizations start to notice growing financial losses and cultural chaos within their employed physician networks.
The newly published case study outlines how the healthcare advisors approached a request to perform strategic and operational assessments for a Northeast hospital. The hospital leadership wanted to understand why they were having such severe growing pains in their central billing office and gain some insight into how they could turn their financial performance around. HSG's team of experienced healthcare consultants initiated an Ambulatory Revenue Cycle Assessment. The work included statistical analyses along with onsite evaluations to identify factors affecting the medical group's financial performance as well as patient access.
Lagging employee education on coding practices, as well as claims denials management and coding documentation, are highlighted as key factors negatively impacting the financial performance of the employed medical group. Through a front-end assessment and four months of onsite support from HSG's subject matter experts, denial rates were reduced by 50% and staff were appropriately positioned and educated to manage processes effectively moving forward.
"By taking a step back and evaluating not only data but also the system's environment, our team was able to uncover opportunities for improvement," said Davis Creech, Director at HSG. "We addressed everything from staff levels of expertise, workflows, resources, support, and standardized processes. The insights that were revealed led to significant changes that ultimately reduced denial rates by 50% within a short period of time."
Both the analytical and onsite work, along with subsequent written reports, provided the hospital in the case study with well-vetted, actionable recommendations for hospital performance improvement and long-term sustainability. To read the entire case study or to find out more about the value of revenue cycle assessments and healthcare provider network performance improvement, visit the website at HSGAdvisors.com
HSG builds high-performing physician networks so Health Systems can address complex changes with confidence. HSG, a Louisville-based, national healthcare consultancy firm, can be reached via their website, LinkedIn, by emailing email@example.com, or by calling (502) 814-1180.
Contact: Karolyn Raphael