- A 2% reduction in bad debt can recover tens of thousands of dollars5
- $40 million in revenue is being lost per year due to 35% of patient cases going to specialists and facilities affiliated with another health system6
Fund transformation by finding revenue leaks
Embrace claims data
- 20-35% of average medical claims are rejected5
- 31% percent of providers still use manual claims denial management7
- $15,000 is spent on the phone calls, investigative work, and claims appeals associated with reworking claim8
Capture reporting data:
- Simplify data preparation for exploratory analytics
- Increase productivity by reducing time required to sieve data and facilitate better utilization
- Bring data directly to analysts to reduce the workload on the internal IT infrastructure
- Improve organizational data usage
Manage risk
- Identify care models and alternative payment opportunities
- Build relationships among providers
- Manage financial risk and utilization to fuel the transformation required to provide value-based care
- Design initiatives that focus on quality at a lower cost
- Establish quality metrics for patients who are vulnerable stakeholders
Positioning care teams
- Get the right data to the right people at the right time
- Allow care coordinators to help their patients navigate the system to close care gaps
- Help highly trained clinical staff focus on the most complex cases
Improve patient retention
- Implement a system to collect, organize, and present price reporting to employers and employees
- Interact with patients to help measure patient satisfaction and patient experience
- Use comparative performance data to reveal important and relevant information
- Be champions of the performance assessment