Revenue Transformation Services: Achieving High Performance in Health Care

Inadequate revenue cycle management can cost a hospital one to three percent of annual net revenues. Health systems are finding that traditional efforts to reduce expenses do not sustain financial margins, so they seek high performance by transforming back-office activities and revenue-cycle business practices into value-added support services.

Health providers are striving to:

• Increase patient satisfaction by reducing the time patients spend in admitting/registration before being escorted to their treatment area.
• Reduce the number of write-downs and accounts receivable, while increasing net revenue.
• Collect more cash faster at a lower cost.
• Provide patients with self-service capabilities that improve satisfaction while providing significant financial benefits.
• Reduce denials and improve coding accuracy by streamlining and automating processes.
• Implement workflow technologies to sustain these improvements.

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Accenture's experience has shown that health organizations must leverage leading practices and technologies, transforming revenue-cycle processes to improve financial performance and so support the drive toward high performance.

Central to achieving this goal is an integrated solution involving both technology and process improvements. Our approach addresses the entire revenue cycle—from the moment a patient enters the system to final revenue collection.

At Accenture, we continually evolve new revenue cycle approaches to help health organizations improve their financial performance. Our clients have sustained long-term, bottom-line improvements such as reduced bad debt and denials, improved claim processing, variable cost reductions, improved efficiency, and increased cash flow. To help clients transform their revenue function, we use a combination of:

• People: Seasoned professionals with deep industry experience.
  
  
• Process: Leading practice operating models, floor coaching, classroom training, and web-based sessions.
  
  
• Technology: Hands-on experience with virtually all patient accounting systems as well as today's major bolt-on systems.
  
  
• Business and industry acumen: The ability to identify emerging opportunities.

Contact us to find out how to transform your revenue processes and achieve high performance.

Accenture's revenue transformation methodologies are enabled by the Accenture Revenue Cycle Management Workflow Tool—an innovative and automated solution that spans the entire revenue cycle. Supporting processes through advanced technology, this tool runs directly on your in-house network and integrates all system data into a single workflow engine.

Our services for delivering high performance to our clients include:

• Denial management programs: We help increase client revenue and cash flow by reducing denials and improving the timeliness and accuracy of initial claim payments.
  
  
• Cash acceleration strategies: We help to increase commitment or investment of collection resources to improve cash flow.
  
  
• Patient payment strategies: We help our clients to establish equitable, consistent collection policies.
  
  
• Third-party payment compliance: We help our clients' revenue-cycle teams to increase collections from third-party payers.
  
  
• Vendor contract management: We help to reduce contracted expenses, including outsourcing vendors, billing services and bad debt collection agencies.

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