A prominent Level I Trauma Center in the northeast was looking to improve their billing procedure processes to become more efficient and increase revenue. The hospital partnered with Philips to perform a financial performance evaluation and develop a strategic approach for optimal trauma center billing management.
It is well established that the expense of maintaining a trauma center is substantial. If not properly managed, trauma services can become a financial drain on the institution. The hospital had recently undergone two performance improvement initiatives which resulted in improved time to reversal agents from four hours to ninety minutes and a reduced non-surgical admission rate from 28% to 5%, exceeding the national standard of 10%. However, these efficiencies were not translated into expected financial gain.