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Cinco de savings – 5 simple steps to spice up your revenue cycle

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Break out your maracas and get ready for your office salsa-making competition – it’s the 155th anniversary of Cinco de Mayo, marking the Mexican army’s victory at the Battle of Puebla and celebrating the unity of Mexican culture.

The best salsa makes generous use of fresh jalapeños. Similarly, finding ways to spice up your revenue cycle can improve your organization’s cash flow! Here are 5 steps to help you do just that:

  1. Stir up your staff. Refine processes or develop new talking points to streamline workflows and address issues and bottlenecks.
  2. Add a pinch of card on file solutions. Patients are fine with keeping a credit card on file to simplify payment of small balances, according to our Patient Payment Check-Up™ Survey, and doing so can greatly improve patient payments.
  3. Add a dash of data. Integrate a healthcare data analytics solution to identify trends in claims denials and stop future denials before they happen.
  4. Substitute digital for paper bills. Go automated and digital. Patients are mobile and online now more than ever. Communicate their balances electronically to speed collections.
  5. Review the whole recipe. Look at your revenue cycle as a whole ecosystem and plot new ways to save time and money by easing transitions between revenue cycle steps, such as moving work from front-end to back-end staff, or automating processes.

Putting these processes and systems in place will give you revenue cycle results worthy of a fabulous fiesta.

Get more revenue cycle insight in our Total Revenue Cycle Management: Pave the Way for a Sound Financial Future white paper.