What does it mean to have a truly patient-centric revenue cycle?
In our consumer-driven healthcare environment, patients need early and clear financial communications, accurate and concise information, transparency and integrity in pricing and charging, simplified explanations to understand insurance coverage and their responsibility, and the tools to navigate through financial assistance. Successful healthcare organizations demonstrate dedication to patient engagement and serving their community through financial wellbeing and the adoption of a patient-centric revenue cycle.
The revenue cycle is not just the business office. All too often health systems make the assumption that patient financial services (PFS) is responsible for inappropriate charging, denials, negative financial outcomes, and poor customer service. The truth is that symptoms appear in the area of patient financial services but these results are driven by breakdowns that occur much earlier in the revenue cycle and across various departments within a health system. Dwindling cash, high write-offs, and denials are the after-effects of issues that are systemic and cracked at the foundation of a revenue cycle.
In fact, a transformed patient-centric revenue cycle involves a sequence of processes and events across the totality of the organization that align to generate income, improve profitability, enhance customer service and lower costs.
How do we create a Patient-Centric Revenue Cycle?
Jacobus Consulting travels deep into the root causes of a broken revenue cycle when working with organizations to transform them into patient-centric and revenue generating engines. With our approach, rooted in metric management, your organization can strategize, build, and implement the foundational elements of a fully integrated patient-centric revenue cycle — including the people, processes, and underlying technology to streamline workflow, improve performance, and provide for sustainable proactive knowledge management, without the need to keep us, or other firms, coming back.
We make this happen by working with you to leverage a proven methodology using our tested Patient-Centric Revenue Cycle Pillars. This methodology involves physician practices, patient access, case management, revenue integrity, health information management, patient financial services, reimbursement analytics and care coordination.
We are confident it will work for you as it has for providers who rated us in the most recent KLAS® IT Advisory Services Report.
“What sets Jacobus apart is they understand how the revenue cycle works for a hospital and how to work our particular EMR to best meet those needs.”
You can expect significant results such as the reduction of bad debt, realization of expected cash collections, increased revenue, and improvement in patient experiences through superior customer service and care funding, all while remaining compliant and transparent.
Discover the ROI that our patient-centric revenue cycle methodology can deliver for your organization.
Whether your entire revenue cycle could use a transformation or a single pillar needs an update, Jacobus Consulting will help your organization achieve your goals. With 20 years of revenue cycle optimization experience, Jacobus Consulting has helped clients realize sustainable and superior results. See our client success stories and our KLAS® results for more information.
Contact us: firstname.lastname@example.org or 949.727.0720.