WHAT WE CAN DO FOR YOU
At Hess III Consulting, Revenue Cycle Management is the convergence of our expertise in Quality Management, Health Information Technology and Finance to further your Business Growth and Development plans. We are upstreamists who look for root causes to your revenue challenges and focus on prevention rather than reactionary solutions. We take a big-picture approach to optimizing your claims & billing process by using root cause analysis and data analysis to improve workflows, increase revenue and eliminate waste. We help you reduce costs and increase profitability while optimizing patient outcomes.
We start at the true beginning of your revenue cycle: your contracts, workflows and technology configuration. Our Experts then resolve the issues that drive claims denials in the first place and help you construct a strong and efficient system that prevents and mitigates errors long before a claim is submitted.
We use Harvard Business School’s time-driven activity-based costing model to streamline the operation of your business – and improve your revenue stream – while eliminating process steps that don’t contribute to patient outcomes, reducing idle time, and maximizing your human resources. We also safeguard your revenue by making sure every service you provide is reimbursed.
Our process improvement strategies address the entire life cycle of a patient’s episode of care, from creation to closure. They include all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue, ultimately increasing the return on investment for your payers and stakeholders. We know that Revenue Cycle Management is a critical component to keeping your business alive and allowing you to serve the vulnerable populations you’re passionate about. Let Hess III Consulting focus on the workflows, technology and process so you can focus on the needs of your clients.
Our Process
We begin with a deep-dive assessment that includes the licensing of your facility, the status and content of contracts, claims data – what’s submitted, what’s denied and which errors are being made. We also study your key performance indicators, reports protocol, training programs, registration process, scheduling method, point-of-service collection procedures and interdepartmental communications.
As Human Resource experts, we also make sure you have the right Revenue Cycle Team in place and that you have the right staff doing the right task at the right time. We review all of your current processes – from patient registration and charge capture to claims processing and accounts receivable follow ups – to identify wasted steps, avoidable errors and long lag times in order to improve your metrics for denials, net collections and lost charges.
We assign a claims & billing specialist to extract claims, submit them to your clearing house on your behalf and then navigate and resolve any denials. Our goal is to get you paid for as many claims as we can.
- Do you have a Revenue Cycle team in place?
- Do you have the right staff doing the right task at the right time?
- Do you have a strong point-of-service collections process?
- Do you have departmental charge capture policies and procedures?
- Is your chargemaster reviewed regularly?
- Does your provider schedule template include regular, consistent appointment slots?
- Do you benchmark and trend key performance indicators?
- Do you actively monitor your payer contracts?
- Is your registration staff accurately collecting all pertinent patient information?
- Does your facility have a formal denials management/elimination process?
- Does sufficient training take place with your clinical staff on proper billing procedures and timeline expectations?
- Do you know which reports are created, reviewed and managed by Clinical Management?
If you answer ‘no’ to any of the following questions, we can help!
- Market, Industry and Competitor Intelligence
- Revenue Cycle Management Tools and Training Curriculum
- Revenue Cycle Management Executive Coaching