Issue link: https://beckershealthcare.uberflip.com/i/1473998
Revenue Cycle – From Care Delivery to Collections, It's All About the Patient Keith Cantrell, Chief Revenue Officer, SCP Health Revenue cycle management is a time-consuming and resource- intensive initiative, but it is also the revenue driver of health care, doing the essential work of putting a monetary value on care delivery. In a value-based system, organizations and clinicians not only have to prove they delivered care, but also that their care is valuable, made the patient feel better, and will help them continue on the road to recovery. Turning care delivery into dollars starts with data. It is critical in RCM to capture the right data elements to translate the value of care rendered at the bedside. The first step in this process is to identify what clinical quality delivery elements are necessary to prove the value of services and then train clinicians to document patient encounters with comprehensive and accurate information. Once the data is collected, it's about finding its intersection with meaningful outputs and quality measurements in order to quantify the value of care delivered and pursue reimbursement. In order to receive the highest possible reimbursement rate, patient experience must also be a priority. Patient experience is integrally tied to value-based care and, in that respect, rev cycle has nearly as much bearing on patient experience as clinical treatment. The first impression of the health care experience is during the clinical encounter, but revenue cycle is often the last contact or impression the patient has. It's critical for both experiences to be as positive as possible. Patients must feel they have been taken care of and that their claim was handled appropriately. The future of revenue cycle management centers around technology, driven by health care consumerism and the need for standardization and streamlined workflows. Patients want 24/7 connectivity to clinicians and are moving to self-service — the use of an app or mobile phone — so revenue cycle must also provide that option. Clinicians want to optimize their time and keep things simple. Mobile clinician-facing technology standardizes documentation processes and embeds them within the patient encounter workflow, creating the opportunity for better data in less time. With such options, clinicians can spend more time with patients, healing, and less on administrative paperwork. At the end of the day, the patient is the health care consumer, and we have to ensure the consumer has a quality experience clinically and a positive experience when it comes to financials in order to gain the highest probability of satisfaction. Our philosophy at SCP is that it's all about the patient. Even though we are a business operation, if the patient did not exist, we wouldn't have a business. We support every aspect of our patient-centered mission by providing talented clinicians and operational experts with the tools and technology needed to deliver exceptional patient care. Discover What Together Can Do Clinical Staffing & Workforce Optimization Care Delivery Documentation & Revenue Cycle Virtual Health Advanced Care in the Home SCP Health is where healing meets performance. Our solutions balance the unique needs of health care organizations to propel clinical and operational progress. Scan To Discover More Solutions