Interim Management Services E-mail

The ChallengeImage


Healthcare providers across the country continue to face obstacles in establishing and maintaining acceptable profitable operating margins. Critical operational tasks will become increasingly difficult in the absence of a facility’s Director and or Manager of the Patient Access or Patient Financial Services.


Our Approach to the Solution

Whether you expect to have a suitable candidate for one of these critical positions within weeks or months, PF Concepts has the talent and experience to fill that operational void. We will efficiently manage and improve the performance of the respective department, while you conduct your search.

Our experienced professionals can be on site, fully functioning, within a one week notification of your need. Our expertise encompasses the operations in the following areas:

  • Admissions / Registration
  • Pre Registration
  • Insurance Verification and Financial Counseling
  • Billing
  • Follow-up / Collections
  • Bad Debt / Agency Management

PF Concepts creates applicable benchmarks to measure the provider’s critical financial and revenue cycle performances. We then, provide structured feedback with recommendations for a necessary plan of corrective action. Our management methodically evaluates and assigns the appropriate staff to obtain optimal results from needed areas, during our interim management. We accomplish this goal by:

  • Extracting pertinent information and utilizing the data to create indices and benchmarks comparable to “Best Practices” and then implementing those “Practices”
  • Aging Analysis by Payer
  • Discharged, Not Final Billed Receivables
  • Late Charge Postings by Service Area
  • Days Delayed; Discharged to Final Billed
  • Time line from Billing to Follow-Up
  • Claim Denial Volumes/ Amounts /Types
  • Bad Debt / Bad Debt Recovery Levels
  • Cash Collection to Net Revenue Ratio
  • Cost to Collect

Typical improvements include:

  • Prioritization of daily tasks
  • Increases in the cash flow and staff’s productivity
  • Achievement of department’s cash budget goals
  • Increases in the accuracy of all critical  information
  • Timely verification and processing of 3rd party payer claims
  • Shortened suspense period from discharge to final bill
  • Reduced volume of processing and claim denials
  • Reduced Accounts Receivable days outstanding
  • Reduced bad debt and charity write offs
 
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