RCM tip of the day: Invest in automated rules engine to improve revenue cycle performance

Investing in automation tools, such as a rules engine, can help healthcare organizations decrease their administrative workload, according to Andrew Wade, practice administrator at Conway, S.C.-based Coastal Orthopedics.

Mr. Wade shared the following tip with Becker's Hospital Review:

"If we want to truly free up providers from administrative burden and empower them to do the work they love to do — spending more time with patients and delivering quality care — organizations need to invest in tools that automate tasks wherever possible. Thanks to our technology's rules engine, our claims can be automatically verified and some errors automatically resolved based on knowledge gleaned from the network. We are getting cleaner claims out the door, decreasing our accounts receivable to 31 days and dipping our denial rate down to 9.8 percent over the last four months, giving us the best claim-to-cash conversion ratio we've ever had. Our money isn't playing jump-through-the-hoop with the insurance companies anymore."

Read more advice for improving RCM performance here.

If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months