Revenue Cycle Service Level Agreement

Don Dadds: Depending on the commitment, the amount of financial growth may vary. One of the first things OSF Healthcare is looking at is whether an outsourcing agreement allows us to find revenue sources that we have not pursued so far or where we have not performed as well as possible because we do not have the know-how to achieve the desired objectives. We will then check how much it will cost to seize these opportunities and whether there is a strong king. For example, if a subcontractor can find us a million dollars, but it would cost us a million dollars to do it, it is probably not worth it. To overcome any hesitation about losing control, you need to be sure that there is a strong working relationship between the outsourcing company and key stakeholders in the health organization. Hospital and health systems managers need to feel responsible for the revenue cycle, as before. There must also be accountability to create a sense of security and confidence in how the revenue cycle will be managed in the future. It is also advisable to have an open debate on whether all skills are properly covered. In some situations, it may be helpful for the health organization to retain control over certain areas, such as revenue integrity.B.

It is essential that we discuss the responsibility for what and how responsibility will be measured in order to achieve the right controls and balances of the relationship. Choosing a billing company is a big step forward. The quality of your billing services can make a big difference in your convenient income, for better or for worse. Choosing a billing company that proves wrong for your needs can be a costly mistake, which can not only be recovered from, but also difficult to recognize until it`s too late. All this in a platform to track the evolution of a health organization`s turnover. Doug Hires is Senior Vice President of Corporate Income Operations at Optum360 in Eden Prairie, Minn. One of the frequently cited reasons for consolidating all IT requirements with a vendor is access to dedicated support in case of problems. Choosing creditors based on their SLAs means that customers work with creditors who recognize the value of good service and will likely improve the results they have achieved.

In order to effectively reduce costs and increase operational transparency, it is essential that hospitals work with revenue cycle providers who offer an integrated rcm solution that renders many supplier systems redundant. A culture of accountability must be encouraged to better understand the many moving elements of the revenue cycle structure. Dadds: We determine a ROI in advance and set targets for minimum, medium and high performance with load entry, reduction of refusals, additional revenue, etc. We also look at the provider`s level of service and communication, as we want to ensure that we receive open, honest and timely feedback and that our questions are answered quickly and comprehensively. Regular meetings are important both in a formal on-site and informal structure, which can lead to telephone support and conversations that were not necessarily planned. If we do a new surfboarding, we can temporarily set up weekly contact points until the project begins, then move on to bi-weekly, monthly or quarterly meetings. At the end of the day, it is about keeping the lines of communication open. You should never feel like you are bothering them when you pick up the phone and ask a question.