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Turbocharging Your Revenue Cycle: What this means, how to do it, and how healthcare is like the TV show Overhaulin’

overhaulin-chipfoose-300x300Anyone in healthcare is familiar with the phrase “doing more with less.” But like all clichés, it has lost some meaning because it’s been around so long. To put this phrase in better perspective, think about a turbocharger and what it does for cars. If you’ve ever watched a car makeover show like Overhaulin’, you’ll quickly see how important a turbocharger can be. It increases the engine’s efficiency and power output – in short, making cars perform better and go faster.

Rather than doing more with less, think about turbocharging your organization’s revenue cycle: Every task you perform can be better than the day before. Whenever your team sees a denial, they know how to circumvent it in the future. Every time leadership asks how you’re going to solve sluggish cash flow or improve claims first pass rate, you have an answer. If you think this sounds too good to be true―especially since healthcare doesn’t have an Overhaulin’ show―you’re in for a surprise. Turbocharging can happen… if you leverage the power of data analytics.

Houston-based Center for ENT’s (CENT) Practice Administrator Melanie Beltran says it’s her goal for the revenue cycle team to work smarter, not harder. With Navicure® Perform™, her team reduced charge lag by 37 percent and decreased days from claim submission to payment by 34 percent.

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How did they achieve these impressive improvements? Beltran’s key strategy was to identify top revenue-producing codes and then improve processes to reduce errors in the correlating claims. By using data analytics, the CENT team always knows how to turbocharge their work and make high-impact changes.

Interested in leveraging data analytics to turbocharge your revenue cycle too? Download The Center for ENT case study to learn more today!

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