Revenue Cycle Optimization

Improve your financial performance.

Lower margins, rising costs, and increased regulations are eroding your bottom line. Let Leidos Health optimize your revenue cycle.

REVENUE CYCLE READINESS WHITE PAPER  CONTACT US

 

Get the most from your processes and technology.

Flat revenue growth, increased costs, changing services, and added regulation costs are eroding your bottom line. Revenue cycle optimization can help improve your financial performance, but where do you begin?  

Optimizing your revenue cycle means looking for opportunities across your entire enterprise—not just the billing office. After all, financial performance is not solely a financial issue. Our Leidos Health team, comprised of health care industry veterans and former hospital administrators with revenue cycle responsibility, offer experience and a trained-eye to find these opportunities.

Our process starts with an efficiency analysis of your people, processes, and technology across the enterprise, looking for ways to reduce defects, cut costs, and create and/or introduce new products or services. As former medical professionals, our consultants understand the value of your people and know how to effectively engage them and make them part of the process. We also understand that every health care system is unique, which means cookie cutter solutions never work. Our approach finds the high impact opportunities for your organization, then applies custom solutions to fix and fine-tune issues so goals are achievable and sustainable.

Revenue Cycle Optimization will help you:

  • Improve referral conversions
  • Reduce costs
  • Increase operational efficiency
  • Eliminate redundancies
  • Ensure appropriate reimbursement
  • Increase patient collections
  • Improve patient engagement

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Discover how Leidos Health reduced Ridgeview Medical Center’s accounts receivable days by 17 days and helped them achieve a 70% clean claim rate.

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An approach to tackle financial performance issues.

Technology can make your revenue cycle more accurate and efficient, helping you reliably verify insurance, reduce missed appointments, ensure precise coding, and limit denials. To identify optimization opportunities, our three-step approach assesses, optimizes, and maintains improved revenue cycle business processes.  

 

Healthcare Technology costs and investment

 

Assess People, Process and Technology
We begin with a rapid, high-level, end-to-end assessment, specific to your vendor environment and inclusive of all significant systems. Through staff interviews, observation, and workflow and data analysis, we evaluate all processes from patient access through customer service, looking for opportunities to improve your revenue cycle. Following the assessment, a report is developed with suggested optimization improvements and their value propositions, where possible.

Optimize the Cycle
Next, we take the list of improvements and develop a roadmap for implementation or redesign. Given our in-depth knowledge of the various systems, we’re able to do more than simply tell you what’s broken. We communicate details for how to fix and fine-tune system issues, and can even provide skilled project managers and technology resources to augment your team to make the needed improvements.

Validate and Sustain Improvements
There are few projects that generate more dramatic and fast ROI than Revenue Cycle Optimization. Our team continues its work with you to capture, measure, and document success, looking at both your month-to-month progress and how you compare to industry standards. Adjustments are made and additional improvements identified—our objective is to ensure the changes maintain and continue to drive positive results.

 

 

Discover how healthcare organizations can better manage spend.

White Paper: Optimizing the Revenue Cycle: Moving Past the Financials

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Let us help you improve your financial performance.

Request a call with a specialist today.

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