What if healthcare providers could improve the revenue cycle for their organizations without increasing costs? Every day, healthcare organizations from around the United States face a growing number of industry challenges, such as MACRA, accountable care and pay-for-performance programs. This requires organizations to focus on the efficiency, quality and financial performance of hospitals and health systems. To help healthcare organizations ensure patients receive the best care, the whitepaper will cover how to best access data flow and implement analytics processes to address problems before they occur and streamline the revenue cycle, including:
Though containing a wealth of information, claims data was not constructed with analytics in mind. However, this data represents a gateway into understanding the claims adjudication results from payers. Healthcare providers can gain a competitive advantage by identifying and overcoming barriers to analytics using claims data.
Though there are a variety of ways for organizations to report on claims data, there is no uniform approach to extracting and analyzing the data for use in analytics. Healthcare organizations must work across the organization to develop a data analytics process that is consistent, reusable and measurable.
It is vitally important for healthcare providers to achieve a healthy revenue cycle to continue to provide high quality patient care. In order to do so they must be proactive in identifying information immediately upon receiving claims data and matching it with their internal data received from other coordination-of-benefits payers.