Revenue Cycle Management Systems in the 2018 Landscape: What’s Old and What’s New
Every year, hospitals and other healthcare providers lose out million-dollar revenue due to unproductive revenue cycle management (RCM) systems. Improvement of revenue cycle performance should be a top priority for health care executives, especially in a competitive environment where price transparency and consumerism deepen while profits decline.
Healthcare organizations should keep themselves abreast of the recent RCM updates and developments to be able to respond to new and emerging challenges.
The Knowledge Group has assembled a panel of key thought leaders who will provide an in-depth analysis of the current trends to help revenue cycle leaders strengthen their RCM. Speakers will also offer significant strategies and tactics that will equip them in increasing their healthcare RCM performance.
Key topics include:
- Revenue Cycle Management (RCM) – Framework
- Significant Developments in 2018
- Current and Emerging Trends
- RCM Risks and Challenges
- Best Strategies & Tactics
Michael L. Duke, Principal, Healthcare Consulting Practice
Baker Tilly Virchow Krause, LLP
- Advanced process analytics needs to be more comprehensive than what is available Revenue Cycle Management Systems
- Sophisticated process automation techniques are required to significantly drive down human error and rework
- Automated workflow management needs to be incorporated into daily tasks so that business rules drive the business and not user preferences
Andrew Hancock, Director of Revenue Management Consulting
- Structure – Organizations must adopt an organizational structure that treats the revenue cycle as a continuum from the front end, middle, and back end, as well as integrates hospital and professional billing
- Long-Term Vision – Through the adoption of enhanced EMRs and technology organizations must think and prepare for the long-term vision and optimization rather than isolating adoption to two distinct conversion and optimization stages
- Consumerism/Patient Engagement – Organizations should involve and/or educate the patient early in the revenue cycle through financial clearance and other pre-service activities
- Integrated Task Forces – Organizations should leverage integrated task forces that include clinical involvement to obtain accurate reimbursement and reduce revenue leakage
Who Should Attend:
- Senior Management from Healthcare Facilities
- Attorneys from Healthcare Facilities
- Healthcare Service Providers
- CFOs and the Finance Team
- Pharmacy Directors and Coordinators
- Chief Operating Officers
- Compliance Officers
- Tax Directors
- Other interested professionals
Michael Duke, is a principal in the healthcare consulting practice of Baker Tilly. Michael has diverse experience and a record of accomplishment in leading people, programs, improving operational outcomes and developing best management practices within the healthcare industry. He has led several successful engagements that demonstrated an ability to develop and implement executive level strategies. Recognized for professionalism, commitment to excellence, and ability to communicate and work with senior management, associates, and customers. He has proven expertise in the areas of: operations management, corporate performance management and revenue cycle management.
Michael was previously employed by an international accounting and consulting firm and had national responsibility for delivering revenue cycle improvement results as well as the design and implementation of proven data analytic solutions for provider clients.
Michael Duke, is a principal in the healthcare consulting practice of Baker Tilly. Michael has diverse experience and a record …
Andrew Hancock is a revenue cycle director with Navigant. He was previously with McKinnis Consulting Services, which was acquired by Navigant in early 2016. In his role as director, Hancock is responsible for project delivery and oversight with a special focus on Epic net revenue improvement/optimization and conversion risk mitigation.
Over the course of his career, Hancock led client engagements focused on leveraging next-generation EHR technology to support best-practice revenue cycle operations at academic medical centers, multi-facility health systems, and community hospitals. Previous engagements have focused on Epic Systems, optimization of patient access processes, designing and implementing revenue integrity departments, and redesigning processes over all facets of the revenue cycle.
Andrew Hancock is a revenue cycle director with Navigant. He was previously with McKinnis Consulting Services, which was acquired by …
Print and review course materials
Method of Presentation:
General knowledge of revenue cycle
NY Category of CLE Credit:
Areas of Professional Practice
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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.