Revenue Cycle Management Services
Managing your facility’s revenue cycle is more challenging than ever. As healthcare operating margins shrink, providers continually need to find efficient and innovative ways to capture and collect revenues.
The Rybar Group offers a comprehensive list of solutions to achieve financial benefits quickly and can implement processes that will sustain performance in the future. We will work closely with you, providing proven methods to review and evaluate the various functions and critical points of the revenue cycle, identifying aspects that affect payment, comparing metrics to local and national benchmarks, quantifying opportunities, and synergizing efforts for improvement and enhanced revenue.
BEST PRACTICES SOLUTIONS DEVELOPMENT
Today’s complex healthcare environment creates a necessity for guidelines to assist in identifying deficiencies and opportunities for operational and financial advancement. Programs, such as The Rybar Group’s End-to-End Revenue Cycle Transformation Services and Process Improvement Analysis, provide short- and long-term recommendations for ameliorating the operational and organizational efficiencies and the effectiveness of the accounts receivable/revenue cycle management process. Your facility will get a work plan tailored to your environment; implementation assistance allowing you to recognize immediate outcomes; and monitoring guidelines for continued advancement efforts.
DENIAL REDUCTION FOR IMPROVED CASH FLOW
Understanding the billing and coding requirements of a variety of payors is a significant challenge for providers. The Rybar Group’s Denial Reduction and Management program provides detailed insights into the components affecting your revenue. We can perform in-depth analyses of your claims, remittance advice and denials to determine the root causes, patterns and breakdowns responsible for denials. We can develop effective techniques to streamline your processes, establish corrective steps to prevent future revenue loss or delay, and ensure that you receive optimal reimbursement.
CONTRACT PAYMENT MANAGEMENT REVIEW
Payor contracts get more complex every day, increasing the likelihood that healthcare organizations will be underpaid for many of the services they provide. The Rybar Group’s Contract Payment Management Review can play an essential part in your revenue cycle. By leveraging the latest contract terms, payment rules and adjudication logic, our consultants analyze your payments for payor compliance. Our analysis enables your facility to verify claim prices and reimbursement accuracy to evaluate overall payor contract performance. The results lead to greater efficiency, empowering providers to actively manage their contracts for better cash flow and healthier bottom lines.
Point Of Service Collection Solutions
The implementation of the new health insurance exchanges has created a significant shift in financial reasonability to patients. Higher deductibles, co-pays and the underinsured will all create new challenges, as a higher percentage of net revenue will be coming directly from the patient. We offer programs that will assess your current practices and will implement activities for a successful POS campaign, resulting in decreased bad debt, improved patient satisfaction and better cash flow for your organization.
PATIENT ACCESS CONSULTING AND MANAGEMENT
An efficient, effective start to your patient’s clinical experience is imperative to ensure that your facility has a positive revenue cycle process. Breakdowns on the front end of the process can lead to denied claims and missed revenue opportunities. Our Patient Access Review begins with the establishment of baseline measures and benchmarks, followed by customized review of operations, including interviews with key personnel responsible for the day-to-day activities. Our consultants will provide hands-on participation in areas such as patient scheduling, insurance verification, registration and admissions, validating key information and working to develop detailed recommendations and solutions.
BILLING AND PAYMENT MANAGEMENT REVIEW
Are your days in Accounts Receivable greater than 60? Is the percentage of accounts greater than 90 days 25 percent or higher? If so, your back-end processes could be having a negative impact on your revenue cycle. The Rybar Group’s Patient Billing and Payment Management Review assesses not only your patient financial services practices, but also your charge capture processes. Utilizing a refined process that includes data analysis, structured interviews and a hands-on assessment, our consultants will identify root-cause issues and provide guidance to ensure that you are optimizing your opportunities for long-term success.
MENTORING PROGRAMS AND SUPPORT SERVICES
We understand that a key to your long-term success is to provide education and guidance to your team members. Through day-to-day interactions and structured sessions, our consultants will provide the tools and knowledge needed for the success of your facility’s revenue cycle. Additional support is available on an interim basis, providing continuous on-site and remote support in roles such as revenue cycle manager and patient financial account management.
Just as there are coding conventions, there are also billing conventions that need to be understood and followed. The Rybar Group offers professional training options designed to your team’s revenue cycle-related skills for ongoing efficiencies and success, and to help you take control of your cash flow. Whether it is our Nuts and Bolts of the Revenue Cycle session, or one of the many sessions focused on the core competencies, such as UB-04s or 1500s, participants will leave with a greater understanding and tools for enhancing in their day-to-day efficiencies.