With the healthcare industry in the midst of an unprecedented time of change requiring healthcare providers to analyze and evaluate every aspect of their business. These changes have brought a financial dilemma and burden that could impact a provider’s ability to retain profitability, operational control and effective administration during this era. There has been incredible effort placed on improving operational efficiency and running a lean organization while maintaining the highest level of patient satisfaction. Many organizations have made tremendous improvements prior to service and at point of service entry points all in an effort to increase cash collections along with an improved patient experience. Independent tools such as insurance verification, claims scrubbing, coding and reimbursement solutions, clinical decision support, healthcare predictor scoring, and other analytical tools have been employed to minimize any lost opportunity for recovery but still fall short of desired expectations.
VBC Revenue Recovery’s Revenue Cycle Analytics provides healthcare provider organizations with “real time” and historical insight into billing, collections, denials and staff productivity across the entire revenue cycle. VBC Revenue Recovery aggregates disparate patient accounting data, payer remittances, collector workstation activity, and third-party information to proactively identify trends, bottlenecks and black hole accounts. Using a proprietary business rules engine, VBC Revenue Recovery enables business office staff to intelligently prioritize account follow-up activities and standardize best-practice workflows to maximize net revenue and cash acceleration. The solution also provides a collaborative platform for enterprise revenue cycle reporting and analysis, empowering both executives and analysts to monitor revenue cycle trends, benchmark performance across the organization, and drill down to the root causes of outliers and variances.