REVENUE CYCLE SERVICES
Optimize Your Organization’s Revenue Cycle
Novia Strategies’ Revenue Cycle Services emphasize comprehensive integration of your interdepartmental workflow and technical processes to maximize revenue management performance. Our approach focuses on developing customized business solutions adapted to your specific clinical, payor, and patient environment. We provide experienced consultants with extensive Financial and Revenue Cycle backgrounds who collaborate with your organizational leaders to chart an effective, self-sustaining course of operations improvement. This process achieves results and sets into motion a cycle of sustained superior receivables management and cash flow performance. We pride ourselves on ensuring the gains are sustained by our consultants transferring knowledge and leaving you with an operational dashboard for Revenue Cycle Services.
BENEFITS OF OUR REVENUE CYCLE SERVICES:
We will work with you to develop and implement strategies and tools that provide:
- Increased collections
- Reduced days in AR
- Minimized rebills
- Improved payor communication/relations
- Reduced labor costs
- Effective utilization of automation
- and more . . .
OUR APPROACH – REVENUE CYCLE SERVICES:
We utilize a four step process in our consulting which is tailored to the level of support you need. These four steps typically are as follows:
- Evaluate your entire case management system or specific areas identified and make recommendations for improvement
- Develop an action plan to guide the improvement work for either your team or a combined hospital-consultant team
- Provide project leadership or hands-on support for implementation as needed
- Provide an operations dashboard and training that allows the organization to monitor and ensure the gains are maintained.
Assessment Planning and Implementation
Phase One – Assessment: Optional areas of focus during our Assessment:
- Insurance verification and point of service collections
- CDM and fee schedule review
- Case management
- Revenue capture and clinical documentation
- Collections and follow-up
- Accounts receivable management
- Contract profitability and management strategies
- Staff development
- Staffing targets
- Operational policy and procedure
- Performance tracking and evaluation
Phase Two – Key Components of our detailed Action Plan:
- What work needs to be completed to get the improvements targeted
- Who is on point for each activity/outcome
- Identification of key considerations for success
- By when should work occur with attention paid to both prioritization and sequencing
Phase Three – Implementation Optional Support Available:
- Strategic leadership to assist in positioning and managing barriers
- Project leadership to drive the work to completion
- Revenue Cycle Subject Matter Expert support:
- to provide insight into best practice
- to share various approach options and lessons learned from other project experiences
- to provide objectivity
- to challenge the status quo
- Staff support to do the work in organizations where resources are tight
Contact Us to learn more about our Revenue Cycle Services.
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