Revenue Optimization
Taking Your Revenue Cycle to the Next Level
At Incisive Consultants, we specialize in maximizing revenue and financial performance for healthcare organizations. Our comprehensive solutions are designed to help you streamline your revenue cycle, enhance operational efficiency, and improve overall financial outcomes. With our expertise and industry-leading strategies, we empower healthcare providers to focus on what matters most—delivering exceptional patient care.
Real-World Example of Optimization
In under 5 months, Incisive Consultants assisted a renowned medical center on the East Coast in enhancing Epic's features.
During this time, they focused on determining prior authorization requirements, implementing work queue scoring, and automating parts of the clinical appeals process using newly released Epic functionality.
The results of these efforts were fewer appointments without authorizations, increased efficiency in managing aging accounts receivable, and reduced effort in completing clinical appeals.
What steps lead to this outcome?
Our four essential pillars are the foundation of our successful engagements. Here are some examples of the activities we perform within each pillar for this service offering.
Value Targeting
Calculate total net revenue improvement and cash acceleration opportunity based on the organization's performance against industry benchmarks or goals.
This helps to set realistic expectations and track progress for direct impacts on the bottom line or cash flow.
Determine potential labor efficiency gains or cost reduction through the increased usage of system automation.
This helps to quantify the potential indirect impact on the bottom line through more efficient labor or reduced labor needs.
Review system configuration and revenue cycle requests sitting with IT to gain a holistic view of the unused functionality that could improve revenue cycle operations.
This ensures that the technology that is already paid for and available is being utilized to its maximum potential to deliver value.
Gather stakeholder input across clinical operations, patient financial services, and IT on identified optimization opportunities to provide context for optimal implementation.
Gathering diverse perspectives on the same issue helps generate solutions that will be more effective with higher rates of adoption.
Reporting
Process Improvement
Utilize reports to uncover quick optimization wins like updates to payor deferment lengths or work queue auto-actions.
This helps to identify areas where quick improvements can be made.
Create executive-level dashboards that show progress on implementing optimization solutions and the impact on targeted KPIs.
This provides senior management with visibility into the progress of the Optimization project and helps them to make informed decisions.
Change Management
Facilitate and collaborate across IT, clinical operations, and patient financial services to revise applicable policies or role expectations based on changes to workflows.
This helps to ensure stakeholder buy-in and alignment and increases the likelihood of successful adoption.
Create tip sheets and quick reference guides to flatten the learning curve for end users for new or changed workflows.
This helps to make it easier for end users to learn the new workflows and increases adoption.
Revenue Optimization
Partner with Incisive Revenue Health and unlock the full potential of your healthcare organization. Our tailored solutions, industry expertise, and commitment to excellence will help you achieve sustainable financial success while delivering exceptional patient care. Contact us today to schedule a consultation with one of our revenue optimization specialists.