How Revenue Analytics Can Help Your Practice Balance Staffing Needs
Managing the size, scope, and workload for RCM and billing staff is on the minds of practice administrators everywhere.
Here are five essential questions practices need to answer to effectively staff revenue and billing functions:
- Do we have enough employees to handle current volumes?
- Are resources organized optimally for each function?
- How many years of backlog have accumulated and how many resources will be required to address the backlog?
- How and when can we determine which claims are still collectible and which ones need to be adjusted off?
- How many months will it take to address credit balances and account integrity issues?
In addition, practice administrators must understand their employees’ quality and quantity of work to ensure issues are being resolved instead of snowballing.
If your practice outsources billing functions, additional questions arise:
- Has the appropriate number of staff been assigned to our account?
- Are the assigned resources full or part-time?
- Who’s monitoring quality issues as vendors cycle workers from client to client as issues or staffing shortages arise that cannot be addressed in real-time?
- Are these resources being provided by a subcontractor and if so, what are the implications?
Attempting to address the multitude of concerns can leave RCM leaders and practice administrators frustrated and overwhelmed.
Get Proactive and Find the Answers in Your Revenue Data
The answers you need to balance staffing can be uncovered in your RCM operational data … if you have access to it.
Your existing EHR, practice management software reporting tools, and overlying KPI dashboards may be holding you back from seeing the data you need to manage staff effectively.
Running reports eats up valuable staff time and their outputs result in disappointing glimpses in the rearview mirror. What if there were a way to look ahead to identify at-risk claims, quantify touches per claim, and compute the required time allocation to get caught up … plus stay current in the future?
Now there is.
RCM Data Experts
Developed by operators who understand your unique revenue challenges and software gaps, Viewgol’s comprehensive RCM data analytics and business intelligence solution continuously monitors vital data points and can help practices:
- Uncover hidden opportunities on day one that result in a 5-15% revenue lift
- Develop detailed worklists and visibility on progress and resolution
- Address backlogs with a defined timeline for clearance and resolution
- Optimize RCM and billing team resources
- Access insight on the effectiveness of third-party billing and collection partners
Viewgol offers practices executive-level and operational reporting, not to mention a gold-standard RCM model to proactively prevent denials, mitigate risks, and improve cash flow.
Ready to see the proof for yourself? Contact us today to see more revenue … guaranteed.
Reid Storch, CRO