Key Revenue Cycle Management Initiatives
By Robert Vaughan, Director of Revenue Cycle Management
Through the incredible hard work of all those involved in The Centers for Advanced Orthopaedics, we have accomplished much to be proud of during our inaugural year as an organization. Always pushing for greater innovation, we are excited to share with you three new Revenue Cycle Management initiatives that are underway to help The Centers stay ahead of the curve and operate more efficiently.
PQRS & Meaningful Use
In order to avoid potential two percent penalties on reimbursements, we have taken action to complete the necessary deadline steps for Meaningful Use and the Physician Quality Reporting System (PQRS). Led by CEO Jennifer Searfoss, we are working with SCG Health to perform site visits at each division to assess our existing EMR systems and paper records. Based on their findings, we will partner with a technology firm to extract data and share patient records so we can measure our quality outcomes. These necessary steps will put us in a better position to avoid declining reimbursements, and can provide the opportunity to receive increased fees through incentive programs aimed at rewarding those who can prove the quality of their medical care.
Compliance Reporting
As with any organization of our size and stature, implementing a strong compliance program is a crucial task moving forward. Without proper compliance controls, we risk putting ourselves at great financial and reputational risk. To ensure we have the right protocols in place, we have hired Kohler Healthcare Consulting, a leader in the risk management industry with offices in Woodstock, MD. They have been tasked with analyzing the processes we currently have in place with the goal of mirroring a government audit. This way we are protected and prepared as we continue to grow and prosper throughout the regions we serve. Lastly, based on their thorough analysis and in-depth knowledge of trends in the healthcare industry, Kohler will be providing recommendations for what we need to focus on for the future, and will be working closely with both the Revenue Cycle and Quality Improvement Committees to achieve these goals.
Hyland Phase ll
Constantly striving to improve our billing processes, we are working with Hyland and JP Melvin to move forward to create a Phase ll implementation program, which will provide more transparency while adding features aimed at making everything more user-friendly. Through embracing certain automation technologies, we will create efficiencies that will make the revenue cycle process run smoother, and better analytics will allow us to find solutions quicker.
I’m looking forward to traveling to Hyland’s headquarters in Cleveland this month for Phase ll training, and we are then planning to host a tutorial program in November to help all the staff that handles billing adopt the improved system.
All of the momentum we have built would not be possible without the dedication of the entire organization – from doctors to administrators and staff. It has been a pleasure to personally visit with many of the divisions, and the insights gleaned have been invaluable in making sure we are constantly refining our approach to make everyone’s lives easier. It’s certainly an interesting time in healthcare, and we are proud to be leading the charge working as a cohesive group to put The Centers on the best possible footing.