Maximizing Revenue Cycle Management
Increase Profit and Reduce Costs
Effective revenue cycle management is vital to the life of a rural or community hospital, allowing leadership to measure performance, identify trends, note areas of weakness, and sustain or enhance cash flow.
Revenue Cycle Solutions for Rural & Community Hospitals
Stroudwater’s revenue cycle solutions, particularly our focused departmental reviews, have been used successfully by many rural healthcare organizations as the framework for the development of a financial performance improvement plan, to maximize gross revenue and net reimbursement, and to ensure a compliant billing process.
We facilitate the implementation of process improvements with the goal of increasing gross and net reimbursement while ensuring regulatory compliance. We provide specific direction, training, and follow-up to guarantee the successful implementation of opportunities for improvement.
The Stroudwater Associates revenue cycle team is familiar with the revenue cycle nuances of different healthcare organizations.
Our consultants specialize in providing revenue cycle process improvements for a variety of healthcare organizations, including:
Stroudwater’s Specialized Revenue Cycle Solutions Include
Our coding and chart audit provides an in-depth review of the medical coding processes, helping ensure accuracy and compliance. This is an essential step for revealing discrepancies, optimizing reimbursements, and minimizing risks related to billing inaccuracies or non-compliance.
Our denials management process will review your denial trends to identify the most common reasons for denials and trends related to denials. This will help us to develop a plan to prevent future denials.
As part of that we will review your coding and billing process to ensure that they are compliant with payer requirements and meet industry standards. This will help to reduce the risk of denials and expedite payment.
Finally, our team will provide recommendations for improvement to your denial prevention process and workflow. These recommendations will help you to reduce the volume and severity of denials going forward.
We will review denied claims to determine the underlying reasons for the denial. Our team will also perform an appeal process prioritization analysis, identifying proper resources and methodologies for working outstanding denials.
Our team will develop customized training for your staff on denial prevention and recommend a workflow for denial prevention and management. We will also help develop key performance indicators within the process to track and monitor progress within the denial management area.
Our price transparency, shoppable service implementation, and support are designed to assist healthcare organizations in meeting regulatory requirements while delivering clear, accurate pricing information to patients. We help create a comprehensible, consumer-friendly format that promotes ‘shoppable’ services, encouraging patient engagement, and fostering trust in the pricing structure.
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Meet Our Revenue Cycle Leaders
Stroudwater consultants include experienced revenue cycle advisors from diverse backgrounds, including revenue cycle managers, former hospital financial officers, and performance improvement experts. Our holistic, team-based approach to revenue cycle management provides clients with the combined value of our revenue cycle process expertise and the diverse perspectives of the entire firm, resulting in an analysis that examines the revenue cycle from multiple angles while considering the impact these results may have on the entire organization