In any field, maximizing profitability requires managing the most important financial aspects of the business. Revenue cycle management is the lifeblood of any business, but some patient billing solutions can delay payments, drain profit margins and restrict cash flow.
Partnering with HORNE Healthcare enables you to access the latest revenue cycle solutions within a cost-effective framework. We provide customized revenue cycle management options designed to maximize reimbursements, improve financial performance, and free you from time-consuming tasks so you can focus on improving the patient experience.
Is your collection percentage too low? Are your claim denials too high? We use industry benchmarks and best practices to determine exactly where your performance is lagging. Then we leverage industry-leading technology to:
- Analyze each claim to maximize revenues and reimbursements
- Enable real-time monitoring of underbilled claims
- Automatically resubmit or rebill underpaid claims
- Provide a revenue cycle dashboard that tracks key performance indicators
We help you establish meaningful revenue, reimbursement and performance benchmarks. Then we provide comprehensive analytics reports that enable you to monitor your progress and identify areas for improvement:
- Cost and Profitability
- Contract Management
- Evaluation & Management Coding
- Revenue Opportunities
- Charge Lag
- Collections and Receivables
- Meaningful Use Metrics
- Physician Quality Reporting System
- Patient Safety or Patient Support Programs
- Accountable Care Organization Metrics
Our Annual Cost Analysis goes beyond providing a breakdown of cost categories. We take a holistic look at your entire business and examine costs in every area, including clinical, operations, staffing, vendor costs and more. We then use benchmarks and our own industry expertise to formulate recommendations that will have a measurable impact on your business. For example:
- Have any compliance risks been overlooked?
- What are your most promising areas reducing costs or waste?
- Are there areas where benchmarks are not in place?
- What are the biggest areas of variance, compared to industry norms?
Utility Cost Analysis
Utilities are one of your largest recurring costs. Inefficiencies or overcharges in this area can result in a drain on profitability — each and every month. Our approach to utility analysis has helped 82% of clients realize substantial savings or refunds, and larger healthcare organizations often realize five- to six-figure savings on annual utility costs.
Coding and Compliance Review
The complexities of coding, combined with changing regulations, can lead to lost revenues, incorrect reimbursement, and even possible charges of fraud or abuse. HORNE helps you enhance revenues and decrease compliance risks with services including:
Retrospective Coding Reviews that identify past instances of incorrect coding and provide a plan for resolving recurring issues.
Outsourced Pre-bill Coding Services that integrate seamlessly into your existing systems and that help you ensure compliance and proper reimbursement.
Provider and Staff Education to keep your team up to date on issues and developments that concern coding and compliance.