Revenue Transformation
Revolutionizing Your Approach to Revenue Cycle Management
At Incisive Consultants, we are dedicated to revolutionizing the way healthcare organizations manage their revenue. With our expertise and cutting-edge solutions, we empower healthcare providers to optimize their revenue cycle and unlock their full financial potential.
Real-World Example of Revenue Transformation
To comply with a new state regulation that required outpatient visits to be provided with cost estimates at the time of scheduling Incisive Consultants embarked on a comprehensive project at a health system. This involved implementing a new workflow for schedulers, updating Epic's functionality, revamping the customer service department, and initiating a coordinated change management program.
Our goal was not only to meet the regulatory requirements but also to make the patient's estimate experience beneficial. Through analysis of past customer service calls and sensitivity analysis, we predicted the potential increase in related calls and used this information to design a new organizational structure, job descriptions, issue escalation and resolution process, and staffing adjustments.
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, cash acceleration, and cost reduction opportunities 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.
Set clear goals for other value markers with less direct impact on the organization’s bottom line, like patient satisfaction or net promoter scores.
This helps to set clear expectations on organizational priorities and target outcomes for the Transformation project.
Reporting
Process Improvement
Create process maps and taxonomies to understand the optimal way to deliver revenue cycle services that align with the organizational goals. Guide the organization on whether services should be decentralized, centralized, or shared.
This ensures that the technology that is already paid for and available is being utilized to its maximum potential to deliver value.
Assist IT with communicating the technology options available to complement the changes to revenue cycle service delivery.
This helps to ensure that the best possible solutions are implemented.
Create executive-level dashboards that show progress on implementing transformational solutions and the impact on targeted KPIs.
This provides senior management with visibility into the progress of the Transformation project and helps them to make informed decisions.
Change Management
Create workgroups with representation across IT, clinical operations, and patient financial services to design or revise processes, job descriptions, or policies based on necessary transformational changes.
This helps to ensure stakeholder buy-in and alignment and increases the likelihood of successful adoption.
Create a communication plan that provides transparency around upcoming organizational changes.
This helps reduce change-resistant behaviors and increase adoption.
Revenue Transformation
Choosing Incisive Consultants as your revenue cycle management partner ensures a seamless transition to optimized financial performance. We are committed to delivering measurable results, reducing operational costs, and increasing revenue for healthcare organizations of all sizes.