Advanced Revenue Cycle Analytics: An Overview
Do you know who your most efficient revenue cycle employee is? Do you know which coder makes the most coding corrections? Do you know which physician requires the most coding changes? Many revenue cycle managers think they know the answers to these questions, and many times they are correct. Other times data shines a light on what is actually happening in the revenue cycle, and revenue cycle managers are shocked at what they find!
Data is everywhere. However, data is often meaningless, or even overwhelming, in its raw form. There is so much available data that it can be paralyzing and difficult to translate into useful information. Unlike data, information is actionable and extremely valuable. Actionable information is most valuable in the hands of an expert who can put the information into context and make recommendations based on what he sees in the information.
White Plume worked with clients to create Advanced Revenue Cycle Analytics, which provide insightful information into the changes made by revenue cycle teams in White Plume’s AccelaSMART program. Administrators and Revenue Cycle Directors get visibility into advanced metrics like user throughput compared to encounter change rate; enterprise-wide most frequently changed CPT, ICD-10, and modifiers; provider-specific coding changes ranked high to low; and much more.
Advanced Revenue Cycle Analytics also gives insights into the performance of their revenue cycle and revenue cycle staff. This information can then be leveraged to improve revenue cycle productivity and outcomes. Analytics data provides both a useful glimpse into past performance as well as a glimpse into future opportunities for improvement.
White Plume clients leverage AccelaSMART to achieve the perfect blend of throughput and excellent revenue cycle outcomes. By utilizing comparison analytics, practices can identify patterns within their revenue cycle departments, share best practices across organizations, and find opportunities for increased efficiencies and better revenue cycle outcomes.
White Plume recommends reviewing Advanced Revenue Cycle Analytics on a quarterly basis with White Plume staff. This routine reporting allows the practice to monitor performance and measure improvements made during the previous quarter. It also allows them to plan for potential improvements for the next quarter through automation, training, and best practices. White Plume’s team brings the experience and context of working with other clients and revenue cycle teams across the country to help boost a practice’s efficiency and accuracy. White Plume can give guidance in areas such as correcting physician-specific coding problems, sharing best practices that could double revenue cycle staff throughput, and automating recurring problems that could be easily corrected.