RCM Advisory Services
Expert insights to resolve the root causes of revenue cycle management errors
Revenue Cycle Management Advisory Solutions
Inefficiencies in revenue cycle processes financially impact healthcare organizations. Compliance depends on keeping up with constantly evolving regulations while battling billing errors in coding and documentation that delay payments and hurt patient satisfaction.
Address the root cause of revenue cycle errors
RCM Advisory Services provides expert insights on necessary accuracy adjustments with corresponding rules and regulations to support the recommended changes. Our team remediates coding, billing, or charge processing inaccuracies with targeted education support and workflow calibrations to address errors at their source.
Advantages of Revenue Cycle Management Advisory Services
- Workflow optimization
- Regulatory compliance
- Consultative approach
- Detailed analysis and continuous feedback
Revenue Cycle Management Advisory Benefits
Data Analytics
IKS leverages proprietary data analytics tools to analyze our client’s financial and operational data. We identify legacy process trends, payer denial patterns, and other opportunities for full cycle workflow optimization. Our team leverages data-driven insights to make informed process adjustment recommendations followed by solution impact tracking.
Action Plan for RCM Optimization
Comprehensive assessments identify bottlenecks, inefficiencies, and areas for best practice process improvement to support optimized cash flow and compliance.
Performance Metrics and KPI
At the beginning of every assignment, it’s critical to establish measurable The IKS RCM Advisory Services team monitors key performance indicators (KPIs) to confirm current revenue cycle performance and define goals and objectives. Progress is regularly communicated to all stakeholders for maximum engagement value visibility.
Continuous Improvement
IKS regularly assesses the effectiveness of implemented changes and adjusts strategies as needed to keep up with changing industry trends to stay ahead of the curve.
Workflow Optimization
Our RCM Advisory Services team eliminates unnecessary steps by streamlining our client’s revenue cycle workflow through automating manual processes and helping to implement more efficient technologies. These steps help reduce errors, improve accuracy, and increase the productivity of all team members.
Denials Management Assessment and Action Plan
We work closely with our clients to develop strategies to reduce claim denials and improve the efficiency and results of appeal efforts. This is achieved by experienced analysis of denial trends, root cause identification, and implementation of proactive measures to prevent future denials.
Revenue Cycle Management Advisory Services FAQs
- Total Quality Audits: Examine and identify problematic areas related to coding, documentation, and quality.
- Targeted Reviews: New physician or targeted physician quality review, physician practice merger/acquisition, system integration.
- Pre-bill Audits: Pre-bill function, inclusive examination including MSDRG, hospital acquired condition (HAC Indicators), discharge disposition and charge capture assessment, performed prior to claims submission.
- System Integration Advisory: Consultative services for go-to-live EPIC implementations every step of the way, ensuring financial stability and success.
Yes, IKS Health offers industry leading revenue cycle education and training programs to enhance the skills and knowledge levels of all team members involved in the revenue cycle workflow. Our training ensures all team members are familiar with the latest coding guidelines, compliance regulations, and industry best practices.
RCM Advisory Services helps you stay up to date on all related healthcare coding regulations, coding guidelines, payer policies, and reimbursement rules. We optimize the revenue cycle process while ensuring all efforts support maximized justifiable reimbursements while minimizing any compliance risks.
In-depth guidance on accurate coding and documentation practices ensure proper reimbursement. Our team helps keep healthcare clinicians up to date on the ever-changing coding guidelines, documentation requirements and clinical documentation improvement (CDI) discipline best practices.
IKS RCM Advisory Services engagements begin with a thorough assessment of our client’s revenue cycle operations, financial goals, and defined payer/denial challenges. Each client’s circumstances are unique, so our advisory services are tailored to delivering measurable improvements to what is most important to our customers.