27 percent of respondents said they did not know how much is financially at risk within their organization from a Revenue Integrity perspective.
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What you need to know about: Reducing missing, misclassified or unmaintained documentation
Healthcare professionals weigh in on the conversation.
Revenue Integrity activities have historically been problematic for most healthcare providers and can have a significant impact on annual net revenue levels.
During a recent webinar, the Baker Tilly Healthcare consulting team discussed solutions that reduce revenue leakage in revenue cycle activities. Attendees were asked questions about their current Revenue Integrity programs and automation tools used to improve financial viability and staff outcome contribution. View the infographic to learn more.
Revenue Integrity
Revenue Integrity activities have historically been problematic for most healthcare providers and can have a significant impact on annual net revenue levels.
As reimbursement models continue to evolve, it is important that automation of core processes is used to drive optimal financial results and reduce costs. In this shift from a traditional Revenue Integrity model to a modern and comprehensive Revenue Integrity strategy, these components must be considered:
- Both professional and technical charge management
- DRG optimization efforts
- Continual intersection between Revenue Integrity and CDI initiatives
- Charge Description Master maintenance is still integral to providing care
- Automation and machine learning integration
- Supply chain implications/cost containment
52 percent of respondents said they think their organization would benefit from a modernized Revenue Integrity program.
Respondents were asked what they think is the most important characteristic of a modernized Revenue Integrity program.
- 11 percent said machine learning
- 15 percent said exception based workflow
- 23 percent said robotic automation
- 51 percent said enhanced management visibility/analytics
Key takeaway
It is time for leadership to start thinking about modernized Revenue Integrity programs that implement the best tools and techniques to ultimately optimize performance.
Questions about your revenue cycle activities? Visit bakertilly.com/rcminnovation for more information.
Journey to $1 billion
Baker Tilly is committed to delivering $1 billion back to the provider market in three years.
Related insights:
- The Revenue Cycle Innovation Center
- Revenue cycle innovation webinar series: Reduce missing, misclassified or unmaintained documentation
- Revenue cycle innovation webinar series: The power of automation to reduce human error and drive out costs in revenue cycle activities
- Revenue cycle innovation webinar series: A radical new approach to optimizing revenue cycle operations
- Infographic: What you need to know about: Optimizing your revenue cycle operations
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