5 News-Worthy Reasons to Adopt Healthcare Consulting

Your business stays stuck in the red. You’ve had to cut much-needed services. You are laying off staff in the middle of a labor crisis while wading through the departure of your CEO and complicated leadership changes.

Your business deserves a break and so does your administration. They have done all that they could to bring your healthcare organization this far. Your employees have survived through the difficulties of the pandemic and should receive some kind of award for continuing to serve the public, tirelessly.

Now, however, the time has come to move on to a level way beyond survival. It is ok to hand over the reins, just for a moment, to people who have overcome tough times like these. Every day brings more complex healthcare news, and you should respond with a team of experts to help you implement savvy, legal, and ethical business practices.

Respond to Complex News With Savvy Consulting

Adopt healthcare consulting and receive the relief of deep expertise like you have never experienced before. This support works like mentorship, not a takeover. So, you can embrace the opportunity to learn from professionals with over 75 years of reviving financial health and revenue cycle operations.

Through a review of your processes, along with training, you will gain preparation for the continuous cycle of multi-faceted healthcare updates. Just like the various parts of the revenue cycle stand interconnected, each end dependent on the other, the impact of current events affects every part of your payment cycle down to your bottom-line.

With management experts at the helm, however, you will have a more informed way to navigate some of the latest newsworthy occurrences. Here is a list of the five newsworthy reasons to try consulting:

1. CEO Departures

You may have experienced the loss of leadership on the clinical and non-clinical end of your business, and even on the executive level. Replacing those roles immediately with an in-house candidate, may seem like the best option, but you could take a more cost-effective course of action. HealthRecon Connect, an RCM provider, offers interim leadership for Revenue Cycle Management roles.

• Interim Management: The space between a CEO or RCM executive’s departure and the time it takes to vet, prepare, and hire another healthcare professional, creates a perfect opportunity for growth. You stand to benefit from a well-rounded evaluation and upgrade of your patient financial services (PFS), information technology (IT), and case management.

• Revenue Integrity: For the short or long term, your interim management will rework your front end, mid cycle, and backend processes. Leave it to them to institute efficiency without enabling abusive consumer practices and disregarding official healthcare standards.

2. The Dreaded Non-Compliance List

Organizations who fail to follow rules, like the price transparency requirement, could receive a fine and appear on a list like CMS’ Civil Monetary Penalty notice. So, before healthcare overseers like CMS, and the Joint Commission, among others, survey your hospital policies, procedures, and processes, your consulting team will conduct their own audits.

3. Price Transparency Regulations

These audits will find and clear away every non-productive procedure that informs how you set and communicate your price list for medical services, procedures, supplies, drugs, and other related items.

• Charge Capture, Charge Description Master (CDM), and Coding audits: Your specialists will leverage this essential mid-cycle process, from documenting charges to billing and coding, to present prices that make sense for you and your patients.

4. Layoffs and Cutbacks

Without fresh guidance on how to productively lower costs, while boosting revenue, you will not have enough cash flow to fund vital services, innovative projects, and most importantly, your people operations.

• Denial and Case Management: Avoid layoffs and cutbacks by allowing consultants to gather intel from your rejections and denials, and shrewdly apply that data to enable timely and error-free processes, from the front end to net gains.

5. COVID Subvariants and New World Viruses

Though Omicron and Monkey Pox could present new RCM challenges, the enhancements your consultants would have implemented, will maintain an efficient revenue cycle. Technologically, and financially, sound processes, transparent billing, and prompt payments will lead to cash acceleration.  

Establish profitable business practices with HealthRecon’s consulting team. Gain as much or as little Revenue Cycle Management support as you need, leveraging all or just a few of HRC’s services. Get in touch with us today and improve upon your processes with effective solutions to complex and newsworthy healthcare events.