Identifying Service Line Profitability Through Healthcare Analytics
A leading U.S. hospital GPO management company provided end-to-end revenue cycle management services to over 3,000 hospitals, but was experiencing significant revenue loss due to underpayments and claims errors with no way to identify the source.
Plan2Account performed a complete analysis on A/R metrics to identify all potential areas of revenue loss.
Hospital management software was set up allowing for isolation of the major gaps and errors in the claims transmission process.
Through targeted follow-ups, reimbursement trends were managed providing a complete cause analysis to reduce bad debt.
By partnering with Plan2Account, the client gained a guided business strategy allowing them to identify service line profitability and reduce overall revenue loss. The partnerships also allowed the client to successfully manage reimbursement trends and accelerate cash collections.
The client significantly reduced revenue loss and increased collections through Plan2Account identified opportunities.
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