Today, hospitals and other providers are challenged by ever-increasing operating costs, uncollected revenues and issues retaining staff in key Revenue Cycle departments. These issues are prevalent due to inefficiencies in revenue cycle processes and misalignment of technology, process workflow design and personnel in the total solution. Revenue Cycle Management (RCM) performance can be significantly enhanced through objective assessment, innovative improvement planning and implementation of effective information management systems.

What is RCM?

RCM is a comprehensive approach that evaluates, improves, and manages all components in obtaining patient encounter information and applying it to ensure patient safety, while creating a simplified, integrated workflow designed to optimize and expedite reimbursement.

The Phoenix Health Systems model for RCM incorporates these three integral components:

• Qualified consultants with operational experience in Patient Access, Health Information Management (HIM) and Patient Financial Services (PFS);
• Knowledge of advanced technology for both the automation of repeatable processes such as eligibility verification and claims editing and the validation of accurate, compliant account information; and
• Process improvement capabilities across all departments supporting the revenue cycle.

Our comprehensive RCM services combine people, process, technology and content to distinguish Phoenix from the rest of the industry. We address revenue cycle performance from a multidisciplinary perspective, recognizing financial performance depends on uniting patient access, care management, patient financial services and information systems efforts. We have experience in identifying, developing and managing the operational and workflow structures required for accelerated cash flow and optimal financial performance.

Phoenix evaluates industry-proven and cutting-edge technologies in conjunction with human resources to recommend the customized methods, tools and techniques necessary to ensure successful performance and measurable results. Phoenix’s process includes:

Phoenix evaluates, improves and manages all steps of the revenue cycle from pre-arrival through account disposition, creating a simplified, integrated revenue cycle workflow for our customers. Our proven diagnostic assessment tools, tested process improvement methods, and knowledge of industry-leading technology will allow you to achieve predictable and measurable results that exceed your current cash position.

Phoenix’s approach to revenue cycle consulting encompasses a comprehensive suite of management consulting and outsourcing services designed to meet the needs and demands of our clients:

Operational Assessments
Work efforts inside this classification include conducting a detailed assessment of the RCM functions to identify deficiencies and opportunities for operational and financial improvement. The review includes an evaluation of the functional organization structure, technology usage and performance levels.

Transformational Technology Assessments
Products inside this classification include a detailed assessment of Project Management Processes, Application Build, Testing, Training, Conversion Readiness and Planning, and a review of Compliance and Regulatory Readiness. These assessments are geared toward improving the implementation process and reducing rebuild or remediation activities.

Revenue Cycle Application System Implementations
Products inside this classification include Development of Revenue Cycle Management Business Requirements, Project Planning assistance, completion of the Current State Analysis, Development of the Future State Design and the associated gap analysis. After the future direction is approved, our team will work with you to build the systems to accomplish pre-defined business objectives, and complete comprehensive business and technologies testing with the ultimate goal of taking the system live with a minimal impact on cash flow.

Training Program Development
Our RCM solutions training assistance will work with you to cover all aspects of the business office, including Patient Access department functions, Care Management, Patient Accounting systems, Business Office functions; HIPAA transactions, and the knowledge necessary to understand and streamline usage of information technology supporting revenue cycle functions. We utilize a blended mix of courseware, learning mechanisms and on-the-job support tools to maximize workforce learning and performance improvement.

Process Remediation and Improvement
Process remediation and improvement begins with an assessment of all aspects of RCM. We literally walk through all the steps in the process looking for accuracy, clarity of roles, management oversight and monitoring, staff accountability and ownership.

Interim Operational Management
Our interim management services provide relief during times of change and transition to promote the stability of the organization. Our experience in RCM within our health care provider organizations crosses over many areas of business, clinical and information technology.

Revenue Cycle Management Outsourcing
We contract with our clients to provide management of revenue cycle services. The exact scope of services provided to each client depends on individual business needs. Phoenix will work with you to develop the business case, conduct due diligence and ultimately finalize the Outsourcing deal agreements. We incorporate better-than-industry standard service-level agreements (SLAs) into our contracts to properly align expectations on both sides, and to provide a tool for evaluation. Our SLAs are business-focused, measuring how systems and services impact your objectives.

Customer Value
With Phoenix RCM services, clients benefit from streamlined processes resulting in decreased accounts receivable, increased cash flow, lower processing costs and compliance with RCM requirements. Here are some of the benefits our clients have realized:

Why Choose Phoenix?

For almost two decades, healthcare providers have trusted Phoenix to create a positive business impact by reducing long-term costs, increasing cash flow, assuring regulatory compliance and security, and improving patient safety. Our seasoned leadership team possesses breadth and depth of knowledge and employs proven methodologies gleaned from years of experience in the healthcare and consulting industries.

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