How to Increase Cash Flow Using Data and Analytics

In business, cash is king, and that’s true for healthcare organizations too. Financial challenges are the number one issue facing hospitals today, according to a2018 survey of hospital CEOsby theAmerican College of Healthcare Executives(ACHE). Among the financial challenges facing hospitals today are decliningreimbursement, rising costs, changes in payer mix, declining inpatient volume, documentation and coding issues, increased payer denials, more regulatory requirements, and bad debt, to name a few. When hospitals face this many challenges at once, it can lead to a negative bottom line. Even if hospitals remain profitable, they need to uphold healthy margins in order to maintain and further the mission of helping patients live healthier lives.

提高财务绩效的常见策略

To maintain healthy margins, hospital leaders must seek opportunities to boostrevenue通过改善财务表现和报销。Some common strategies include the following:

• Improving documentation and coding accuracy.
• 减少未结清的票据持有账户数量。
• Reducing accounts receivable (A/R) days.
• 处理未开终单的卸货情况。

Managing the DNFB Process

While many of these strategies have been around for a long time and are top-of-mind for healthcare leaders, many C-suites and department leaders are unfamiliar with managingDNFB由于编码或文件上的空白而导致账单不完整的情况。根据2019年“使用分析来增加现金流”网络研讨会参与者的民意调查，41%的人表示他们对其设施的DNFB流程“不熟悉”，另外19%的人表示他们“有点熟悉”。只有16%的参与者认为自己“非常熟悉”他们所在设施的DNFB流程。

对DNFB流程的有效管理是医院改善财务绩效和现金流的途径之一。However, without a robustdata analyticsprogram to support these efforts, meeting goals around DNFB improvement remains elusive for many hospitals.

According toHealth Leaders Media, accounts may be unbilled for a variety of reasons:

• The account requires coding that is not yet complete.
• The account is coded but awaiting charges.
• The account is coded but lacks a corresponding charge, often identified during claim-editing.
• 该帐户被编码，但在索赔编辑过程中由于无效的收入代码、不准确的付款人指示符或其他缺失的元素而被拒绝。

Whether these accounts are waiting for a medical coder or physician documentation, they can account formillions of dollarsjust waiting to be processed. The implementation of ICD-10 in 2015 means an additional level of specificity and documentation is required, further compounding the problem for healthcare organizations that don’t get and keep their DNFB process in check.

Identifying Opportunities for Improvement

As hospital bottom-lines shrink, leadership may respond with belt-tightening tactics such ascutting staff or operating costs,which can appear effective initially. However, these cutsoften lead todeclining employee morale and can negatively impact the patient experience. Hospitals need to identify a sustainable approach by analyzing opportunities most likely to deliver the ROI they need, and then focus on those identified areas for improvement. However, without robust analytics to support theseimprovement efforts, targeted goals or benchmarks may not be realized unless healthcare organizations commit to built-in accountability and visibility to ensure sustained improvements.

专注于改进编码和文档编制流程(如DNFB)，可以减轻现金流问题，并在通常耗时的手工流程中提高效率和准确性，从而为医疗保健组织带来巨大回报。手工、低效的流程会导致医疗编码员和医生负担过重，导致工作倦怠。而且，如果组织没有一个合适的分析平台，他们可能缺乏执行这些过程所需的数据，数据可能是无序的，世界杯厄瓜多尔vs塞内加尔波胆预测或者由于缺乏功能，审查数据的过程可能是压倒性的。

正确的分析平台还可以帮助自动化这些耗时的世界杯厄瓜多尔vs塞内加尔波胆预测过程，通过组织、排序和过滤数据，并允许计费部门主动采取措施，避免支付延迟，花更少的时间组织数据，花更多的时间使用数据。一旦到位，分析平台可以帮助确定进一步改进的最大机会领域。世界杯厄瓜多尔vs塞内加尔波胆预测

Using Data Analytics and Process Improvement to Achieve Goals

许多医疗保健组织开始流程改进之旅的第一步是投资于一个开放的、可扩展的分析平台。世界杯厄瓜多尔vs塞内加尔波胆预测虽然过程改进的动力通常是财务方面的考虑，但在分析方面进行投资似乎是违反直觉的，但这是发现并瞄准改进的最大机会的必要步骤。尽管建立和运行分析平台可能需要时间，但通过自动化手动流程和加速陷入困境的账户的现金流，组织可以很快看到他们的底线得到改善。世界杯厄瓜多尔vs塞内加尔波胆预测

In the example of the DNFB process improvement, this might include the following steps:

• Invest in analytics.
• Fine-tune and verify analytic data.
• 与医生和关键部门保持一致的沟通。
• Educate key departments on data and analytics and give access when appropriate.
• Revamp time-consuming processes.
• Revise department structure and create new roles.
• Maintain and augment results through continuous improvement.

In the case ofThibodaux Regional Medical Center, these steps resulted in a $2.4 million increased cash flow, according to the results published inHealth Leaders Media. The organization was able to achieve these results because its analytics platform offered fast and easy access to the information needed. The medical center was also able to improve physician documentation, reduce A/R days, and improve workflow.

Creating Lasting Change

Inaccurate analytic data has little value and can cause resistance to change. When embarking on the process improvement journey, it’s important for healthcare organizations to invest both the time and money that’s needed to provide access and clarity of data to drive change. Consistently sharing data with physicians can help promote engagement and keep them involved and committed to the process. Additionally, having a robust analytics platform, efficient processes, and accountability translates to sustained success.

With declining cash flows, increasing regulatory and reporting requirements, and tightening margins, healthcare organizations need to be mindful of their bottom lines and their cash flows. Improved reimbursement, efficient, automated processes, and proactive action are all needed for hospitals to stay afloat in today’s demanding environment. The right data analytics platform can help organizations identify opportunities, provide timely access to the right data, and monitor trends to maintain and expand their progress.

Additional Reading

Would you like to learn more about this topic? Here are some articles we suggest:

1. Healthcare Data Management: Three Principles of Using Data to Its Full Potential
2. Why Clinical Quality Should Drive Healthcare Business Strategy
3. Linking Clinical and Financial Data: The Key to Real Quality and Cost Outcomes
4. Transforming Healthcare Analytics: Five Critical Steps
5. Prioritizing Healthcare Projects to Optimize ROI

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