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Due to many cut backs and monetary thrift of the federal and state government, hospitals are required to maintain a higher level of productivity with fewer resources. These consequences require management to invest all their time, in putting out the day-to-day operational fires. Reviewing Best Practices and pro active discussions on implementing effective procedures and processes, gets forced to be put on the back burner.
PF Concepts razor focus is on Access, Patient Financial Service areas, and Staff. We work with the staff and management to set goals. At this point, PF Concepts begins onsite involvement within Patient Financial Services, to establish the most effective policies and procedures, along with developing protocols for ongoing communications. In addition, PF Concepts routinely conducts the monitoring of the performance standards, while identifying and implementing Best Practices. Through this whole process, PF Concepts keeps an open line of communication with the Patient Financial Service staff, related hospital departments and management, including the third-party payers, and the support service vendors.
PATIENT ACCESS & PATIENT FINANCIALS
Phase I: On-site Review
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Meet with key management to gain an understanding of their primary concerns and objectives
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Review departmental procedures and revise and or supplement, where necessary
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Observe the working routines of the department staff
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Realign existing staff to optimize department performance
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Establish and implement short and long term performance standards
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Create effective reference files of third-party payer contracts, policies, procedures, outside venders, etc.
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Create, review, and implement the Operations Plan
Phase II: Active Management
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Monitor key reports that impact cash flow
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Patient demographic and financial data
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System financial data and reports
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Performance and Benchmarking reports
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Establish a communication line with third-party payers to resolve contract and reimbursement matters
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Communicate interactive needs with ancillary service departments as needed
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Interpret and communicate, orally and written, regulatory updates to staff
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Conduct focus group meetings with key staff to review department performance and Management’s Task progress
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PF Concepts will provide Progress Reports to all key staff and senior management
Typical Improvements include:
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Increases in Best Practices within the Organization
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Access to experienced professionals in all areas of the Patient Financial Service management cycle
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The accuracy of third party payments
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The achievement of departmental cash goals
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Increases in productivity through talent development, by way of PF Concepts’ “Customized Mentorship and training program.”
