Optimizing Healthcare Revenue Cycle Management: Tools, Tips & Tactics You Must Know
Overview:
The healthcare industry is among the fastest growing and rapidly evolving industries today. With the proliferation of innovation in tools, technologies and platforms, processes like patient intake, payment collection and operational analytics are continual opportunities to drive higher performance for less cost. Coupled with these opportunities are challenges that must be mitigated in order to improve financial performance, particularly in terms of revenue cycle management. Although improved tools and technologies mean eased transactions, these also require new and costly investments.
The challenge for CFOs and revenue cycle leaders lies primarily on how to optimize the revenue cycle while making smart investments that maximize ROI.
The Knowledge Group has assembled a panel of key thought leaders who will provide an in-depth analysis of the current trends to help CFOs and revenue cycle leaders optimize their revenue cycle management, in ways that drive significantly higher value than the initial investment. Speakers will offer significant tools, tips and tactics that can be effectively leveraged to drive higher healthcare revenue cycle management performance.
In a LIVE Webcast, the speakers will discuss:
- Revenue Cycle Management (RCM) – Important Procedures Involved
- The Promises and Perils of RCM
- Significant Developments in 2017
- Current and Emerging Trends
- Tools, Tips & Tactics You Must Know
Agenda:
Baker Tilly Virchow Krause, LLP
- Revenue Cycle Analytics: How organizations can obtain the information they really need
- RCM Robotic Process Automation: What is it and how can it be effectively deployed
- RCM Exception Based Workflow: Real options to significantly reduce operating costs and improve performance
- Why RCM fails: Key factors on why there is constant opportunity to improve RCM performance and outcomes
Huron Consulting Group Inc.
- Increased market competition and a shift toward value-driven growth is fueling the rapid expansion of many employed physician groups. While there are financial advantages for larger groups, the complexities of physician revenue cycle management can often get in the way of realizing these benefits.
- Determining how to invest in your Physician Revenue Cycle can be challenging. The following initiatives will yield great returns for most medical groups
- Operating Model Evolution: Operational efficiency is critical for an effective revenue cycle, with no single model that is best for all. As a result, you must look at your physician group’s unique needs and goals, taking into account the revenue cycle operating model best positioned to support improvement
- The Charging and Coding Enterprise: Develop Charging and Coding as an organizational competency to ensure accurate capture of charges, and consistent and appropriate reimbursement. To do so, organize charging and coding functions into an end-to-end process with clear roles and goals.
- Take Denials Management to the Next Level: A strategy for triaging and handling denials once they occur is important but preventing denials rather than trying to rectify them is more time and cost efficient. Doing this is often easier said than done. We’ll cover key steps to truly advance your denials program.
Who Should Attend:
- Ambulatory Care Providers
- Director of Revenue Cycle
- Revenue Cycle Executives
- Senior Management from Healthcare Facilities
- Billing Managers
- Revenue Cycle Operations Managers
- CFOs
- C-Level Executives
- Finance Executives and Directors
- CEOs
- COO
- Practice Administrators
Michael Duke, is a principal in the healthcare consulting practice of Baker Tilly. Michael has diverse experience and a record …
Craig Nurnberg, is a managing director in the healthcare consulting practice of Huron. Craig has healthcare experience helping providers optimize …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast
Prerequisite:
Experience in financial services law
Course Code:
146835
NY Category of CLE Credit:
Skills
Total Credit:
1.0 CLE
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SPEAKER FIRMS:
About Baker Tilly Virchow Krause, LLP
Baker Tilly is a professional services firm with a specialized healthcare practice, which is comprised of tax, audit and advisory professionals that work with hundreds of hospitals, health systems and health plans developing new strategies for growth. The team has a vast array of financial, operational and strategic expertise covering the full spectrum of advisory services, including value-based service management, risk readiness, managed-care contracting and revenue cycle management. With more than 2,700 employees, Baker Tilly is one of the top 15 accounting and advisory firms in the country. Headquarter in Chicago, Baker Tilly services clients across the United States.
Website: http://bakertilly.com/
About Huron Consulting Group Inc.
Huron is a global professional services firm committed to achieving sustainable results in partnership with its clients. The company brings depth of expertise in strategy, technology, operations, advisory services and analytics to drive lasting and measurable results in the healthcare, higher education, life sciences and commercial sectors. Through focus, passion and collaboration, Huron provides guidance to support organizations as they contend with the change transforming their industries and businesses. Learn more at www.huronconsultinggroup.com.
Website: http://www.huronconsultinggroup.com/
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