After 20 Years Managing the Revenue Cycle, Here’s One Thing I’m Just Learning Now

It really pays to get a checkup – even before you know something’s wrong. And especially if we’re talking about a revenue cycle management system.

This pearl of wisdom has become increasingly clear to me since I joined GE Healthcare as a process consultant, after two decades in healthcare revenue cycle management at Columbia and Cornell medical centers.

However, as I know from experience in the field, getting a preventive checkup is not the norm. Often, the thinking is that, hey, the organization’s goals are being met in terms of cash flow, net collection ratio, etc. Everything looks OK. You’re too busy to look any deeper. And you’re skeptical of any vendor’s offers of help. They’re just trying to sell you something. Right?

That’s how I used to feel. But now that I’m on the other side, sometimes I wish I could set my former self straight. A simple checkup in the form of a system assessment can help a lot, without requiring much time or new software.

Many billing staff members are overwhelmed by day-to-day challenges. As it turns out, however, this lack of bandwidth is exactly the reason it’s valuable to have an outside expert perform an assessment.

 

What does an assessment involve?

A system assessment by GE Healthcare is the vital health check that your team is probably too busy to do. It’s about asking whether you’re leaving money on the table in the form of:

  • Underpayments
  • Undercoding
  • Missing charges

We can also uncover process Band-Aids – those little workarounds that people do…

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