When someone asks why you tie your shoes using the bunny ear method versus the one-knot method, most of us are likely to respond with "I'm not sure but this is the way I've always done it." How many areas of our life can we answer this question with that same response? Many of us have processes and methodologies we've used for years and have never thought to question. Does it mean it's necessarily the most efficient way or yields the best results? No, but we still don't think to question it. These processes and methodologies are ingrained in our routines, often following them without a single thought. It takes someone outside of ourselves drawing our attention to it and asking the question why to address it or make a change.
This same response we hear time and time again in the healthcare space but if there's one thing that remains constant in the healthcare space, it's change. Yet most healthcare providers, hospitals and facilities keep the same revenue cycle processes and routine, never stopping think about why because they've always done it that way. Unfortunately, this mentality often leads to missed revenue opportunities, compliance issues and impacts cash flow which most healthcare providers and facilities can't afford. That being said, we also hear healthcare professionals express a gut feeling that something isn't right. Whether it's increasing AR, constant coding denials or decreasing revenue, the red flags are there. However, they are challenged with determining where the issue lies because they are too embedded in their existing processes to identify the problem. It often takes a tipping point to raise the white flag and ask for help.
It is crucial for healthcare providers, hospitals and facilities to routinely evaluate their revenue cycle. It also a best practice to get another set of eyes on your processes. Often internal teams are too close to identify breakdowns and missed opportunities. Maybe you have too many billers, not enough bandwidth internally to address aging AR or a coding backlog. Regardless, there are always areas to improve and an outside perspective can help identify these roadblocks, help quickly identify weaknesses and inefficiencies as well as provide suggestions on how to resolve challenges.
As Einstein said, "The definition of insanity is doing the same thing over and over again and expecting a different result.". When was the last time you questioned your revenue cycle and billing processes?
If you're challenged with revenue cycle process or know something's not right but you can't quite put your finger on it, Coronis is here to help.