Academic medical centers are indispensable institutions charged with a mission to provide quality medical education, advanced science and the best care possible. The highly complex nature of this three-fold mission makes academic medical centers even more financially vulnerable to growing economic and regulatory challenges.
A Proven Model for Better Financial Health
McKesson Revenue Management Solutions (RMS) has been helping academic medical centers for over 25 years improve financial performance, control costs and minimize regulatory risk. Without putting a strain on capital resources, our medical billing software and core services integrate with major information technology platforms in order to deliver a seamless flow of data, support and expert revenue cycle management services.
Revenue Cycle Management Self-Assessment Checklist
The following is a quick assessment checklist to help you identify critical points of potential revenue exposure for your organization.
- Do you have unexpected decreases in your revenue that you need to explain?
- Do you post payments to your practice management system within 24 hours?
- Do you know when you should expect to receive the majority of the collections associated with a particular month of service dates?
- Is your ratio of payments to adjustments stable and if not, do you know why?
- Do you regularly audit your encounters and look for appointments kept but that have no associated charges?
- Do you ever have services provided and documented but not subsequently charged and billed?
- Do you have an effective management reporting system that is able to track, measure and report your key performance indicators?
- Do you use real-time practice charges versus historical data to accurately identify annual and monthly expected cash?
- Are you satisfied with your current cash flow forecasting?
- How do you address accurate documentation with your physicians in order to minimize risks?
Please contact us for a no-charge, medical billing and revenue cycle management assessment in order to confirm any financial upside for your organization.
