Acorn is specialized in lean methodologies that are increasingly deployed by healthcare providers to improve the billing and collection process in the revenue cycle management.
Lean Revenue Cycle improvement eliminates the myriad mistakes in the billing processes that lead to payment delays, rejections, and write-offs. 4-5 for weeks consultation work is required on average. We will assist our clients by defining, measuring, analyzing, improving and controlling. Embedding a process improvement program within an organization is critical to an organization's performance.
Most hospitals and clinics lose enough money in their revenue cycle that if fixed would ease cash flow crunches and fund investments in new revenue streams on advanced patient care services.
When we perform a Lean Revenue Cycle transformation our clients will stop paying staff to fix errors and gain the leeway to redirect these resources into providing better value care to patients.
Improvement teams comprise of front line staff from all departments involved in the revenue cycle. This enables interdepartmental communication that helps them understand each other’s needs, see the impact of errors, and allows them to work together to redesign their own processes to better serve the whole.
Acorn’s goal is to create a sustainable framework for process improvement with a methodology to transform the revenue cycle management in the healthcare system.
Examples of results to date on a regional and international level include:
- Positive morale changes in the revenue cycle culture. The staff is working together to create change and identify root causes. Employees feel empowered to make changes.
- Employees receive valuable education, training and mentoring to deliver and improve meaningful metrics.
- Process standardization and prioritization has reduced the discharged, not final billed rate. The current backlog is well below the industry standard for inpatient coding.
- A coding worksheet was developed to help coders organize their notes while reviewing charts.
- Streamlining processes in scheduling and registration has improved customer satisfaction by decreasing waiting times.
- An increase in cash flow can be observed due to standardization, transparency in metrics, and more expedient billing.
- Significantly increase in clean claim rate.
- Productivity increase by removing workflow bottlenecks and redundancies.