Our accounts receivable assessment services are designed to evaluate the overall

performance of the management of hospital accounts receivable and the subsequent

successful cash collections for services rendered.

Our approach is designed to identify the current state of the revenue cycle and provide

recommendations to allow the hospital to achieve best practices level. Such areas include registration,

billing, denials, follow up, discharged not final billed (suspense days out) and late charge activity.

Accounts Receivable Assessment Services

Potential scope & approach

The overall objective of the assess-

ment is to identify improvements

with people, processes and technol-

ogy that could be implemented to

move the hospital towards a best

practice performing hospital. Our

approach includes the following

three key areas of focus: review of

historical data; assessment of pro-

cesses and systems; and interviews

with key staff.

Transaction Management Assessment

TechnologyAssessment

Staffing & Organizational Assessment

Denials Management Assessment

Reimbursement& Revenue

Enhancement Strategies

Bad Debt & Pre-CollectAssessment

AccountsReceivable

Assessment

Billing & Claims EditingAssessment

• PR

OCESS REDESIGN •

Revenueoptimization

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OLO GY E NABLEM

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Deliverable Our deliverable includes findings and recommendations that highlight key issues impacting the days in accounts receivable. We identify necessary steps to becoming a best practice hospital and compare your hospital benchmarks to best practice metrics such as:

• Cash collections

• Days in accounts receivable

• % A/R > 90 days

• Cash collected as a % to net revenue

• Bad debt and charity write offs as a % to net revenue

• Point of service collections

• Days out scheduling

• Discharged not final billed

1. Historical reports reviewWe conduct an analysis of key accounts receivable reports that include:

• Account receivable aged reports by primary financial class by month to determine trends within a certain financial class • Account payment denial trends by payer and reason• Discharged not final billed reports• Late charge reporting• Cash collections as a % to trailing 60 day net patient service revenue• Bad debt and charity care as a % to gross revenue

2. PeopleWe conduct staff interviews relative to the execution of daily activities to determine the adequacy of skill sets for executing performance. The key considerations include:

• Staff interviews of key personnel• Policy and procedures review• Job description review• Key staff skill sets• Review of organizational structures

3. Processes & systemsWe perform a review of processes and systems to identify major barriers and gaps to effective accounts receivable management. The key areas of focus typically include:

• Patient access operational assessment• Patient accounting operational assessment• Billing processes, procedures, holds (unbilled discharged accounts), and backlogs • Collections processes, priorities, timeliness and effectiveness• Timeliness of account final resolution (collection / bad debt)• Workflow observations• Accountability and productivity• Use of technology• Adequacy of performance of vendors for outsourced accounts if applicable

THE SERVICES MAY INCLUDE THE FOLLOWING: Claims sampling & scoringTo validate observations and findings in the three key areas, we evaluate a sample of claims that provides useful insight into potential improvement opportunities. Our sampling review will focus on:

FRONT ENDQuality scoring of registration key data elements

BACK ENDQuality scoring of billing and collection efforts to obtain payment on first submission

FREEDMAXICK.COM | BUFFALO BATAVIA ROCHESTER SYRACUSE | 800.777.4885Freed Maxick Healthcare is the brand under which Freed Maxick CPAs, P.C. provides services to its clients. Square logo, FreedMaxick, and “Trust Earned.” are trademarks of Freed Maxick CPAs, P.C.