Free Services:
- A complete audit of the hospital's cash handling and posting processes.
- Assessment of the hospital's Enterprise Risk Management program.
- Six Sigma Revenue Cycle Balanced Scorecard. This is included with all engagements and can be considered KPIs with impact and not just pretty pictures. You don't pay for its use as other may charge.
- Lost Charge Recovery. Using our proprietary software, we scan up to a year’s worth of detail charges and identify ones that may have been missed or paid incorrectly. These are validated and then rebilled. We are only paid a percentage of the actual cash collected. In essence, if we find you a NEW dollar, a dollar that you most likely would never have received, you pay us a percentage of that dollar. Hopefully, we find you more than a dollar! If we find no lost charges, we are paid nothing, i.e. the service is risk free. You not only realize the benefit of the additional cash collected but the benefit from correcting the root causes of the charge errors accrues indefinitely.
- Cash Acceleration. We have experts who specialize in working with patient financial service departments in accelerating cash collections. They have worked at such hospitals as Stanford Medical Center, Our Lady of the Lake in Baton Rouge Louisiana, and Tucson Medical Center just to name a few. The goal is to collect ALL the cash you are entitled to receive. You benefit from the increase in cash collections and the knowledge you retained of how we increased your cash collections.
Project Based Services:
All hospital areas are subject to an internal audit with the purpose of verifying that proper internal controls are in place and processes are effective. Traditional areas include payroll and time and attendance, cash handling, accounts payable, business contracting, materials management, value-based purchasing, financial reporting, compliance reviews, data access, data center operations, disaster recovery and business continuity, grant administration, construction, coding, and human resources. Revenue Cycle areas include admitting, charge capture procedures for all clinical areas, denials and under payments, billing procedures, follow up effectiveness, collection agency use, and health information management processes.
Specialized areas include 340B Services, fraud investigations, forensic accounting, and new system implementation support. New systems implementation should always include independent active participation an internal auditor with a strong information system background. The risks are very large.
The deliverables for all projects is a comprehensive audit report and a subsequent review and report to verify that all action plans were implemented.
Complete annual plans can be developed in collaboration with senior management and governance. These plans include multiple projects and deliverables.
All hospital areas are subject to an internal audit with the purpose of verifying that proper internal controls are in place and processes are effective. Traditional areas include payroll and time and attendance, cash handling, accounts payable, business contracting, materials management, value-based purchasing, financial reporting, compliance reviews, data access, data center operations, disaster recovery and business continuity, grant administration, construction, coding, and human resources. Revenue Cycle areas include admitting, charge capture procedures for all clinical areas, denials and under payments, billing procedures, follow up effectiveness, collection agency use, and health information management processes.
Specialized areas include 340B Services, fraud investigations, forensic accounting, and new system implementation support. New systems implementation should always include independent active participation an internal auditor with a strong information system background. The risks are very large.
The deliverables for all projects is a comprehensive audit report and a subsequent review and report to verify that all action plans were implemented.
Complete annual plans can be developed in collaboration with senior management and governance. These plans include multiple projects and deliverables.