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Revenue Cycle Transformation
Maintaining near-perfect balance
A winning balance beam performance means pushing skills to the limit while maintaining near-perfect balance on a surface less than four inches wide. Health care providers today face a similar challenge—delivering high quality patient outcomes and desired profit margins while adhering to a growing array of regulatory requirements and other dynamic forces.
Stretching the limits
Deloitte’s Revenue Cycle Transformation practice works with health care providers to help them identify ways to increase their net revenue, accelerate cash flow, and reduce costs by addressing people, process, and technology components across the revenue cycle spectrum. Our professionals employ a prescriptive, yet tailored, approach that focuses on delivering shared services model sustainability, process standardization and integration, workflow automation, technology improvements, training, and enhanced patient experience.
Revenue Cycle Transformation services
- End-to-end transformation – delivering comprehensive revenue cycle services including process redesign, technology enhancement, organizational design, and performance management.
- Revenue cycle business intelligence – conducting a root cause analysis of revenue leakage to identify net revenue, reduce bad debt, and accelerate cash collections through our proprietary RevenueIntellectTM tool.
- Charge integrity and reimbursement – driving net revenue improvement through enhanced middle-revenue-cycle methods and processes.
- Patient experience – developing and delivering a focused approach to improving patient experience, driving competitive advantage, encouraging customer loyalty, and increasing market share.
- Compliance and regulatory risk – evaluating and monitoring systems and processes for risk management and regulatory compliance purposes.
- ICD-10 – assisting with preparation, remediation, and implementation required to comply with ICD-10 requirements.
- Revenue cycle systems implementation – planning, designing and implementing technology systems for commercially available technology.
- Revenue cycle tools – automating workflow processes and enhancing reporting capabilities through our proprietary RevenueProtectTM and RevenueRecoverTM applications.
Potential bottom-line benefits
- Net revenue improvement and cash acceleration
- Enhanced patient-focused service under standardized and shared service models with significant return on investment
- Improved data quality and accuracy
- Improved regulatory compliance
- Increased confidentiality, availability, and integrity of protected health information across the revenue cycle
- Process automation and standardization
- Workforce capability and training enhancements
Through revenue cycle transformation, providers address uncommon operational and technology issues that currently hinder or prevent quality outcomes and margin improvements.