Return to Business Basics
Return to Business Basics
The days of "quick fixes" to revenue enhancement are gone forcing hospitals more than ever before to take a hard look at operational spending.
There's a lot of change happening in the healthcare industry, and many of those changes are having the impact of reducing or at least slowing the rate of increase of hospital revenues. Things like retrospective RAC reviews, medical denials, increased deductibles, and greater patient responsibilities, etc. have created a level of uncertainty and decrease revenue predictability.
In these uncertain economic times, we recommend hospitals take a step back from the problem, and focus on solutions that minimize risks and capitalize on remaining opportunities. Simply stated, it's time to return to business basics. That means:
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Good governance
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Real revenues
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Careful planning
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Cost control
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Profitability
HWC has developed a range of products and services specifically designed for C-level executives to take advantage of opportunities in these areas. We specialize in accurately predicting revenues, quantifying service-level costs, and measuring profitability. And with this assistance, it allows hospital management to focus on issues of operational management and governance.
Client Case Study #1
HWC identifies hospital's use of the wrong Grouper and performed a retrospective review to recover in excess of $4 million dollars.
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Client Case Study #2
Through cost-finding analysis, HWC identifies a negotiated contract was never entered into the hospital's system, resulting in over $2 million dollars in additional reimbursement due. HWC negotiated with the Payer and had a successful outcome on a material portion of the items.
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Client Case Study #3
Managing new contracts can take time, and most hospital systems aren’t equipped to go backward. Because we are leveraged by the HALCYON DSS, it was not nearly as time-consuming or tedious as it could have been, and our team quickly identified over $2.0 million in recovered revenue.
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Client Case Study #4
We work our clients’ accounts regularly, so we are aware of trends that may be occurring in a hospital. All of a sudden, we noticed the same opportunity for underpayment occurring again and again. It seemed as though CLIENT D was no longer billing for trailers.
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