Your provider organization should have a revenue cycle program that drives incremental revenue and creates lasting change. And, yes, this is possible!
Baker Tilly specialists can help build a program with the nimbleness and scale you need now and tomorrow. Our revenue cycle team maintains a focus on the ever-changing revenue cycle landscape so they can build a solution that provides:
Baker Tilly’s Advanced Revenue Cycle (ARC®) platform helps healthcare provider organizations increase annual net revenue (by removing human error and manual efforts that lead to revenue leakage) and reduce costs (by utilizing exception-based workflow and robotic process automation to drive higher productivity levels and improved outcomes).
Increase annual net revenue
Through the combination of innovative technologies and best practice process knowledge, Baker Tilly’s ARC® platform strives to dramatically improve annual net revenues by removing human error and manual efforts that lead to revenue leakage. This approach provides a new paradigm to managing and controlling revenue cycle activities.
By utilizing exception based workflow and robotic process automation, Baker Tilly’s ARC® platform has shown that as much as 40% of revenue cycle full-time employee costs can be reduced while producing higher levels of productivity and improved outcomes due to the ability to run processes 24 hours a day, seven days a week and 365 days a year. This allows us to implement a process that only requires a knowledge worker when there is an exception to expected outcomes, drastically reducing the need for human intervention.
Clear visibility and actionable data
Taking advantage of granular, process level data and combining it with process analytic expertise, Baker Tilly’s ARC® platform creates a new approach to allow management teams to better understand revenue cycle performance – and where that performance is not as expected. This allows you to understand the causal factor quickly so that corrective action can be taken and for efforts to be made while problems are still small and not large drains on annual revenues.
Each situation is unique. The combination of highly configurable technologies with revenue cycle process expertise allows the Baker Tilly team to build serious solutions to serious problems, but in a manner that meets each client's unique and operating limitations.
ARC® consists of four unique service offerings that can be leveraged individually or in any combination:
Each phase has been designed to enhance or protect optimization opportunities that may have been missed in the past.
The planning phase
The implementation phase
Our revenue cycle specialists will manage and execute the transformation to ensure positive results – because let’s face it, your team already has a day job.
During the execution, we leverage the Internet of Things (IoT), robotic process automation (RPA) and cloud-based telephony tools.
RPA is the application of technology that allows for the configuration of software or a "robot" to capture and interpret existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems.
The long-term, accountability phase
The monitoring phase