THEN JOIN US IN ATLANTA FOR THE 2020 REVENUE CYCLE TRANSFORMATION BOOT CAMP
WE ALL KNOW WHAT THE DEFINITION OF INSANITY IS? Doing the same thing and expecting difference results. If we hospital leaders know this, why don’t we do things differently? We can no longer depend on others to drive change and implement innovative new revenue integrity strategies to improve our care and our bottom line! Healthcare has changed in the last 10 years and our hospitals have struggled with new standards to improve clinical quality and eliminate hospital-acquired conditions, to provide patient-centered care to improve the patient experience, to follow up with patients post discharge to prevent re-admissions, as well as staying up to date with the complexities of reimbursement. IT’S TIME FOR NEW IDEAS AND CHANGE LEADERSHIP!
EXAMPLE OF DOING SOMETHING DIFFERENT TO GET BETTER RESULTS: A review of coding practices in one hospital I worked with identified gaps in skills and processes and an audit found coding accuracy at only 70%. This is an area of improvement that most rural hospitals can’t measure and have no idea how much is being left on the table. When ICD-10 replaced ICD-9, it tripled the number of codes and introduced 2 new levels of acuity requiring additional documentation and coding that increases reimbursement greatly. Once the audit results were received, the decision was made to outsource the coding to Healthcare Coding and Consulting Services (HCCS) who deployed certified coders for each chart type and quickly automated our manual processes. The hospital coders were re-assigned as revenue integrity analysts on the front end checking medical necessity on every procedure, and as documentation specialists on the floor working with physicians to increase specificity resulting in more accurately coded charts and payments for the care that was provided. The changes with HCCS coding the claims resulted in improved coding quality and CPT accuracy from 70% to 98%, which resulted in $200,000 increased monthly revenue or $2.4 million annualized.
IT TAKES BRAVE LEADERS TO DRIVE CHANGE. Everyone agrees that change is difficult, but with 700 rural hospitals at risk of closure, https://www.ruralhealthweb.org/news/nearly-700-rural-hospitals-at-risk-of-closing bold new leadership driving change and innovation in our hospitals can avoid closure or sale to the highest bidder. Embracing new patient-centered value-based revenue principles will change the dynamics of your hospital and keep the community coming back for outpatient services, surgery, diagnostics and therapeutics, but with improved outcomes, more accountability and more revenue to sustain operations.
ARE YOU A LEADER THAT WANTS TO DO SOMETHING DIFFERENT TO GET BETTER RESULTS? Plan to attend the 2020 REVENUE CYCLE TRANSFORMATION BOOT CAMP on March 18-20 in Atlanta at the Embassy Suites. We believe to achieve your potential reimbursement and realize a 10% increase in revenue; it will benefit C-Level leaders to participate with your revenue cycle team in creating the strategy and action plan that is going to require your support to drive change and innovative ideas to increase your revenue. It’s only one month away, so make sure to REGISTER TODAY!
Join me, along with the experts from Strategic Health Partners, Draffin & Tucker, Quadax, and HCCS to learn how Medicare reimbursement has changed, how to manage Medicare Advantage growing to 50% of Medicare, and to create a revenue strategy for your hospital to capture 10% more revenue in 2020 – with a money back guarantee! COST is only $495.00 per person. $200 discount for 2nd attendee, and the 3rd attendee is Free! This offer and room discounts is good through Feb 26th!
Reserve your room by February 26th at EMBASSY SUITES to receive the special discounted rate