Gainesville, VA (PRWEB) October 02, 2013
Convergent Revenue Cycle Management, Inc., the leading provider of healthcare revenue cycle management solutions to top healthcare providers across the nation, announces a new case study focusing on improving operations and performance standards in patient access for a multi-specialty physician group. The revenue cycle study reveals how the provider was having difficulty meeting patient expectations for timely access to care. Frustrated with wait times of as much as an hour, patients often left the offices without being seen by a physician. Patient volumes began to drop, and with them practice revenue. Applying their industry leading standards, Convergent implemented several initiatives focused on technology enhancements, training, change management, and standardization - creating outcomes of 98% accuracy of data gathered at patient registration, up from 61%, and a reduction in claim holds in accounts receivable due to registration errors by 95% with cash collections increasing by nearly 20%.
Much of the patient access problem could be traced back to a lack of standardized policies, procedures and processes for scheduling, registration, intake and patient treatment. The recent switch to an electronic health record also contributed to the slowdown in patient throughput. Physician adoption of the EHR system was low, leaving a paper-based system in place alongside the new electronic one, disrupting patient flow and generating unnecessary costs, including almost 700 hours of overtime per month.
The lack of standardization and lagging adoption of the EHR at the front-end created a backlog in claims processing and patient billing at the back-end. The thoroughness and accuracy of information collected at registration was at just 61% (Note: consistent with how numbers are expressed above), contributing to approximately $500,000 in claims on hold in accounts receivable. Of total cash due at time of service, only 66 percent was being collected.
“In addition to the significant investments made in our patient contact center technology, we are committed to recruiting and retaining some of the best experts in the industry with a high degree of patient access knowledge and experience,” says Derek Pickell, CEO of Convergent’s healthcare division. “This combination of support through leading technology and a five-star workforce has translated to improved patient satisfaction for healthcare providers such as this group, who consistently aim to deliver high levels of productive, efficient and patient-centered care”
Founded in 1992, Convergent’s healthcare division serves hundreds of hospitals and healthcare providers across the nation. Their regulatory expertise and patient-focused contact center technology optimize revenue cycle performance, enhances the patient experience, and improves provider relationships.
To access the entire case study, visit http://www.convergentusa.com/library.
About Convergent Revenue Cycle Management, Inc.
Convergent Revenue Cycle Management is recognized as the premier niche revenue cycle management company in healthcare, providing innovative solutions across the revenue cycle spectrum including patient access solutions, early out self-pay collections, attorney-powered third party reimbursement and bad debt recovery (through Convergent Healthcare Recoveries, Inc.). Our regulatory expertise and consumer focused patient contact center technology optimize revenue cycle performance and improve healthcare provider relationships with patients and physicians. The healthcare division has operation centers in Virginia, Texas, New York, Florida, and Illinois.
About Convergent Resources, Inc. (CRI)
Headquartered in Atlanta, CRI is one of America’s largest revenue cycle, receivables and customer care management companies with thirteen operating centers across four time zones. The company provides healthcare revenue cycle management, consumer contact outsourcing services and commercial receivables management to a variety of healthcare providers, utilities, telecom companies, financial institutions and others.