success stories - hospitalrevenuecyclesolutions.com · success stories . 2 hrcs inpatient hospital...
TRANSCRIPT
HRCS SUCCESS STORIES
WWW.HOSPITALREVENUECYCLESOLUTIONS.COM
2 HRCS
INPATIENT HOSPITAL
TOTAL COLLECTION
INCREASE = 32%
YIELD INCREASE
54%
A/R DECREASE
21%
CHARGE INCREASE
13%
RETURN ON INVESTMENT
388%
KEY METRICS
60%
70%
80%
90%
100%
110%
120%
Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
A/R DECREASE & CHARGE INCREASE
AR Charges
3SUCCESS STORIES
OUTPATIENT CARE
TOTAL COLLECTION
INCREASE= 169%
YIELD INCREASE
117%
A/R DECREASE
18%
CHARGE INCREASE
15%
RETURN ON INVESTMENT
1401%
KEY METRICS
60%
70%
80%
90%
100%
110%
120%
Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
A/R DECREASE & CHARGE INCREASE
AR Charges
4 HRCS
SUCCESS SNIPPETS
Who: A not-for-profit health system with over 500 beds in the East Coast
What: Credit balance project that is being done in four stages; the first three stages are complete and totaled almost 8,000 accounts; the final stage is just under 7,000 accounts
Results: Picked up almost $1.4 million in income so far; identified trends that were causing the credits, such as issues with insurance refunds and adjustments
Who: A midwest integrated health system with over 30 locations
What: A/R resolution project
Results: Analyzed, sorted, and acted on 82% of the A/R in one month, totaling more than $10 million; cleared 80% within 6 months
Who: A 40-bed dedicated surgical hospital in TX
What: A/R resolution project
Results: Analyzed, classified, and addressed 58% of the A/R, totaling over $21 million, in less than one month
Who: A medium-sized, mid-Atlantic, acute care hospital that is part of a large network with hundreds of locations nationwide
What: Denial resolution and reduction project
Results: Determined that 41% of the hospital’s first-time denials were eligibility related, even though they were using a standard clearinghouse eligibility verification tool; introduced a process to cut that rate to 4%
5SUCCESS STORIES
Who: A metropolitan pediatric hospital with over 100 beds
What: Unpaid claims settlement
Results: Analyzed unpaid claims and discovered a high volume from a single commercial insurance carrier that were up to 4 years old; worked with executive contacts at insurance carrier to get a $250,000 settlement; scheduled regular call to ensure timely claims processing
Who: A health system in AR with both acute care and rehabilitation hospitals totaling between 150-200 beds
What: Credit balance clean-up totaling over 4,000 accounts
Results: Added $1.2 million in net income for the client
Who: A 400+ bed health system in FL
What: Credit balance clean up totaling nearly 16,000 accounts
Results: Cleared all accounts in under four weeks and added more than $1 million to their bottom line
Who: A short-term critical access hospital with 400-500 beds in KY
What: Credit balance clean-up of almost 50,000 accounts
Results: Increased their income by more than $2 million
